FAFSA reform a progressive step forward
September 22, 2015
Money matters for many students and families, applying for financial aid is a crucial step in overcoming the hurdle of college tuition.
President Barack Obama has proposed a plan to reform the current financial aid application process to alleviate the pressure on prospective students and increase the accessibility of college.
The plan has conjured up nearly unprecedented bipartisan and bicameral support, signifying that this reform is a positive step forward for the sake of students in higher education.
Currently, over 16 million students fill out the Free Application for Federal Student Aid, or FAFSA, each year. This number is a staggering indication that college has become increasingly unaffordable for a large portion of American students.
Prior to this reform, the FAFSA consisted of 153 probing questions to determine one’s eligibility for financial aid. Students who have grappled with this form before know that the level of inquiry the FAFSA requires can be maddening.
Families often equate this process to walking through a mine field, petrified that one question could mean the difference between hundreds or thousands of dollars in aid.
One benefit of Obama’s reform strategy is the “prior-prior” system. This would allow students and families’ months of extra time to fill out the FAFSA and organize their finances.
An issue with the current application process is the scarce amount of time families have to put together tax returns and financial statements.
High school seniors and current college students must scramble to input all of their financial information and answer the daunting 153 questions within the FAFSA.
Prior-prior would allow for high school juniors to be aware of their financial award 2 years in advance, as well as current college students. This reform grants families an extra year to organize finances and make decisions for the future.
Politicians on both sides of the aisle agree that decisions that bear the weight of a student’s future should not be hurried or made in a state of stress. Under this reform, students would have time to weigh their options and make an informed decision.
Another stride this reform is taking is cutting back the number of questions the FAFSA asks, alongside eliminating ambiguous questions about unverifiable assets. The FAFSA would consist of only 108 questions, cutting back its unnecessary probing by about 30 percent.
After this reform is enacted students should feel a weight lift from their shoulders and make an effort to take the reigns of their future with informed decision making.
This policy is meant, first and foremost, to help students realize that higher education is still a viable option for those with financial hardships.