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Student Financial Aid Simplification Act

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5/16/2013--Introduced. Student Financial Aid Simplification Act - Amends title IV (Student Assistance) of the Higher Education Act of 1965 (HEA) to determine students' need and eligibility for title IV assistance, unless they qualify for the simplifi...[more]

Sponsor

  • Rep. Peter Welch [D, VT-0]

Cosponsors (1)

  • Rep. Mike McIntyre [D, NC-7]

Sponsor: Rep Peter Welch (D-VT)

Summary:

  • Would determine students' need and eligibility for title IV assistance, unless they qualify for the simplified needs test or expect no family contribution, by using tax return information regarding those students or their parents that this Act authorizes the Secretary of Education to obtain from the IRS. Would require those students to submit to the Secretary certain supplementary information not available from the IRS.
  • Would require the Secretary to provide IHEs and states with that tax return information, without charge, for the purposes of processing loan applications and determining need and eligibility for institutional and state financial aid.
  • Would amend the Internal Revenue Code to authorize the SecrTreas to disclose tax return information to the DoEd regarding taxpayers or their dependents whose need and eligibility for assistance under title IV of the HEA is based in whole or part on their income or their parents' income.
 
Talking Points:
 
  • Use of IRS information to determine FSA eligibility.
 
Status:
 

5/16/13 – Introduced and referred to the Ed and Workforce Cmte and the Ways and Means Cmte.

7/08/13 – Referred to Subcommittee on Higher Education and Workforce Training.