This bill would make it easier to apply for financial aid when entering college. Students would be allowed to use their family’s tax data from two years before the application to determine their eligibility for aid. Under the current system, students can only use tax data from one year prior, which can sometimes delay the process of determining whether a student is eligible to receive aid.
The bill would also making filling out the 108 question Free Application for Federal Student Aid form (FAFSA) less time-consuming. Students would be able to link their FAFSA form to their family’s tax data through the Internal Revenue Service (IRS), which would allow students to automatically fill some of the questions on the FAFSA form. Additionally, the Dept. of Education would be required to create an app for mobile phones for filling out the FAFSA form.