"Higher education administrators say a change in the federal student aid formula could mean lower levels of financial aid for children whose parents run family farms or small businesses, and they want Congress to take action," Inside Higher Ed reports.
... "Karen McCarthy, vice president of public policy and federal relations for the National Association of Student Financial Aid Administrators, said it’s difficult to estimate the effect of removing the exemption."
"'Because we weren’t asking the question before, we don’t really have any good way of estimating how many FAFSA filers do have a small business or a family farm that would now be required to report on the FAFSA,' she said."
"McCarthy said NASFAA has heard from members in farming communities who are concerned about the change. In a recent survey of financial aid administrators, 39 percent said the provision would place a greater burden on financial aid offices, and 25 percent said more guidance was needed."
"She said that she doesn’t know what the Education Department has planned for the question on the net value of a family farm or small business. More information is expected when the department unveils the draft FAFSA, which she said should be later this month."
"McCarthy said that it’s getting late in the development of the new FAFSA to make significant changes."
"'Our primary goal is to have a clean, smooth implementation,' she said."
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: 3/21/2023