We can make college more accessible
Sen. Angus King
(I-Maine)
Maine students and their parents shouldn’t need an accountant to help them apply for federal student aid or pay back their student loans. But anyone who’s gone through the process knows that it can be difficult, daunting, and down-right frustrating.
It’s January, and as many prospective students continue to apply to colleges and wait to hear back from those they’ve already applied to, the time has come to work on a new round of applications: the financial aid forms. For many Maine students, the decision to continue with their education hinges on receiving some amount of financial assistance – either from the federal government or the schools.
Unfortunately, the process to apply for financial aid can be cumbersome – if not prohibitive – for people in Maine and around the country. The problem: the dizzying length and complexity of the Free Application for Federal Student Aid, better known as the FAFSA. This form, which is used by the federal government and most colleges and universities to determine a student’s aid package, has a whopping 108 questions. That’s right, 108! And they’re the detailed sort of questions that seem more appropriate for a financial advisor rather than a college applicant.
When it comes to our students getting the help they need to go to college, simplicity should rule the day. That’s why I’ve joined with a group of Senate colleagues to try and replace the FAFSA with a single postcard called the Student Aid Short Form, which would consist of two simple questions: What is your family size? And, what was your household income two years ago? This common-sense proposal is part of the FAST Act, a bill led by Sens. Lamar Alexander (R-Tennessee) and Michael Bennet (D-Colorado) that I am proud to cosponsor.
The FAST Act would also make life easier for students and parents by creating a look-up table that would tell high school juniors the amount of federal grants and loans for which they are eligible. This would give them an earlier picture of what they can expect for support as they look at their college options. The bipartisan legislation would also streamline federal student aid programs, restore year-round Pell Grants, discourage over-borrowing, and simplify loan repayment options. The repayment aspect is critical – as we work to simplify the application process, we also must make it easier for student borrowers to navigate their options when paying back their loans.
The current maze of overlapping and duplicative federal student loan repayment programs, though well-intentioned, is downright confusing. To address this issue, Sen. Richard Burr (R-North Carolina) and I have re-introduced the Repay Act, a bill that would consolidate the many current repayment programs into two plans: a fixed repayment plan and a single, income-driven repayment option. Much like the FAST Act, the Repay Act enjoys strong bipartisan support. Sen. Susan Collins is one of several colleagues who have joined us in this important effort.
In the 21st century, higher education is more important than ever. The rising cost of college is a significant obstacle for students across America, and we need to make college more accessible and affordable – and we can start by simplifying programs and reducing paperwork. By removing the mountain of application paperwork and fixing the maze of complicated repayment programs, these complementary, bipartisan bills will go a long way in helping Maine students advance their education and build towards a brighter future.
Encouragingly, President Obama has voiced his support for the FAST Act, and Senator Alexander, the Chairman of the Heath, Education, Labor and Pensions Committee, has already identified both of these bills as priorities for the committee as it takes up higher education reform.
My hope is that when prospective college-goers sit down next January to figure out their options for financial aid, they’ll have less paperwork to sift through, and a greater understanding of their options and opportunities.
