"The majority of U.S. college students get some kind of financial aid to help cover the cost of school, according to the National Center for Education Statistics," WABE reports. "The process of applying for and receiving aid can be complicated. Congressional lawmakers are trying to streamline that process through the reauthorization of the Higher Education Act. The bill, introduced in the U.S. House, trims the procedure by getting rid of some long-standing programs."
"Megan Coval is the vice president of policy and federal relations for the National Association of Student Financial Aid Administrators. She says some of the changes in the bill are good for students.
'It calls for the elimination of origination fees, which are fees that are imposed on students when they’re first taking out their federal loans,' Coval says. 'So, we were glad to see those eliminated.'
The legislation also simplifies a long form called the Free Application For Student Aid (FAFSA). All students who apply for federal aid have to fill out the long, detailed form.
However, the bill also does away with some popular provisions, like the Public Service Loan Forgiveness Program. The plan waives the balance on students’ college loans if they end up working in a service profession, like policing, nursing or teaching."
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: 12/11/2017