Buchanan, Doggett Bill Simplifies Student Aid Process

Statement

Congressmen Vern Buchanan (R-FL) and Lloyd Doggett (D-TX) last week introduced the bipartisan Student Aid Simplification Act to make it easier for students to apply for federal financial aid. The bill would simplify a complex application process by allowing the Internal Revenue Service to share a student's financial records with the federal Education Department.

Students currently must obtain their own tax information from the IRS and submit it to complete the Free Application for Federal Student Aid (FAFSA) form. Current law does not allow the IRS to share taxpayer data.

The Buchanan-Doggett bill would allow the Internal Revenue Service to provide that financial data to the Education Department on behalf of the student, simplifying the process and saving families time when completing their financial aid application.

"This legislation is a common-sense measure to simplify and streamline the student aid application, while also helping to reduce improper repayments as more precise records are conveyed," Buchanan said. "I look forward to working with Congressman Doggett on this bipartisan initiative."

Doggett said, "After a decade of seeking to streamline the financial aid process, I still find FAFSA too complicated, confusing, and underutilized. Our bipartisan bill encourages better coordination between federal agencies so more students can apply for financial assistance by importing necessary financial information with one-click. We can simplify the application process while maintaining reasonable taxpayer privacy."

According to the National College Access Network, 90 percent of high school seniors who complete the FAFSA proceed directly to college, versus only 55 percent who don't complete the FAFSA.

The Student Aid Simplification Act would also make it easier for borrowers on income-based repayment plans to pay their loans by simplifying their recertification process. Department of Education data shows that more than 55 percent of borrowers on income-based repayment plans fail to submit their paperwork on time, putting them at risk of default.

Source