Congressional Committee Directs Ire at Runcie
"James Runcie’s resignation as chief operating officer of the Office of Federal Student Aid was the subject of heated discussion at a House Oversight and Government Reform Committee meeting on Thursday," Diverse: Issues in Higher Education reports
"The hearing in question related to improper payments made in FSA’s Direct Loans and Pell grant programs. FSA manages a portfolio of student loans that now totals nearly $1.3 trillion and distributes approximately $125 billion in student aid annually. ...
A major source of improper payments, however, come from 'unverified, self-reported financial data provided by aid applicants,' according to Justin Draeger, president of the National Association of Student Aid Administrators (NASFAA), who testified on Thursday.
The IRS Data Retrieval Tool was a recent effort to streamline the process of applying for federal financial aid. The data retrieval tool automatically filled in portions of the FAFSA form using IRS data, ensuring the veracity of the information applicants were submitting to FSA."
NASFAA's "Headlines" section highlights media coverage of financial aid to help members stay up to date with the latest news. Inclusion in Today's News does not imply endorsement of the material or guarantee the accuracy of information presented.
Publication Date: 5/26/2017