NASFAA and NCAN Suggestions Questions that May Need to be Asked - PowerPoint PPT Presentation

Agenda • Purpose of FAFSA Simplification • Unexpected Implementation Issues • NASFAA and NCAN Suggestions • Questions that May Need to be Asked • Benefits and Challenges of PPY • Discussion – What’s Going On

Purpose of FAFSA Simplification  Recognition for students already determined to be needy.  Remove unnecessary questions that are not related to determination of need.  Simplify the process for parents and students.

Unexpected Implementation Issues  Postsecondary institutions only receive student/parent data but not other institutions receiving the data.  State Agency Data Modifications -School listings -School order listings -States that changed deadlines -Impact for students, institutions, and state budgets

Early FAFSA and Prior-Prior Year in States • Impact on student filers • First-come, first-served states • Will PPY cost more?

National College Access Network Streamline Suggestions • Those receiving support from means-tested benefit program. • Families who file taxes but do not utilize schedules. • Families who file taxes with tax schedules. • Estimated costs.

NASFAA Simplification Suggestions • Means-tested benefit: SNAP and SSI only • Simple Form Tax Filers: No schedules • Tax Filers with Schedules All asset questions Expand the DRT information that could be pulled in Disallow negative income

Questions that May Need to be Asked • Is income (AGI) a true indicator of need -Negative income could mean you have income • How do tax schedules convey wealth or need • Is FAFSA simplification fair to all -What about the middle

Questions that May Need to be Asked • Is completing a FAFSA really complicated? • Can DRT be mandated? • Is Verification fair to all? • What other processes will be challenging?

Benefits of PPY • Prospective students would receive awards earlier • More time to make tuition payment arrangements • More time to make enrollment decisions

Challenges of PPY • Institutional timelines • FAFSA completion initiatives • Increase in students with need may mean additional support programing needed on campuses.

The Only Constant in Financial Aid is Change ! Questions and Discussion Ron Gambill Edsouth rgambill@edsouth.org Karen Hauser Vanderbilt University k.hauser@Vanderbilt.edu