President Obama will join Department of Education Secretary Arne Duncan’s cross-country bus trip stops at North High School in Des Moines today, Sept. 14, before Duncan continues on to Cedar Rapids on Tuesday. While the two Iowa stops draw national attention to the education conversation, today’s visit will also include a major announcement of a change in the FAFSA (Free Application for Federal Student Aid) allowing families to use prior-prior year tax information in order to file the application in a timelier manner. The FAFSA allows students to be considered for many state and federal grants and scholarships, as well as provide colleges with the information needed to match students with grant and aid packages.
Previous FAFSA regulations required families to file with the current year’s tax information, making it much more difficult for families to file the FAFSA before school deadlines for financial aid, many of which came before the traditional April15 tax deadline. President Obama’s Executive Order will ease that difficulty by allowing information to be taken from income information that has already been reported on tax returns the previous year.
For more information on the new change to FAFSA, the National Association of Financial Aid Administrators has created a video that details the benefits of the new FAFSA allowance. The video can be viewed at their website.