"After years of effort, the IRS will be allowed to share tax information with the Department of Education. The shift comes as a result of President Trump signing the Future Act in December. Just what does this mean for students and those repaying student loans?" New Tang Dynasty reports.
"Policymakers and other stakeholders have been working for years to get permission to share data between the IRS and the Department of Education—it is supposed to make paperwork easier for Financial Aid Applicants and those repaying their student loans.
The National Association of Student Financial Aid Administrators (NASFAA) Director of Policy Analysis Karen McCarthy said: 'It’s a win-win because it’s very helpful for students, it simplifies the process, but it also is sharing IRS information directly. So there’s less room for error, there’s less room for fraud type situations. So it really kind of has that program integrity element as well.'"
NASFAA's "Notable Headlines" section highlights media coverage of financial aid to help members stay up to date with the latest news. Articles included under the notable headlines section are not written by NASFAA, but rather by external sources. Inclusion in Today's News does not imply endorsement of the material or guarantee the accuracy of information presented.
Publication Date: 1/13/2020