DEVELOPMENTS IN HIGHER EDUCATION

It is not uncommon today to learn of distressful events that are experienced by students enrolled in higher education programs. One example of a negative impact on some individuals is that they complete their formal learning period with a mountain of student loan debt, which is most difficult to repay because of low employment salaries upon leaving the academy. As a consequence, it may be more difficult for them to achieve what their parents were able to accomplish much more easily, such as being able to purchase a home or retire at a relatively early age.

Nonetheless, some benefits of a higher education continue to persist. An infogram developed on November 10, 2012 by the American Council on Education (ACE) reveals that increased annual earnings are available at each level when moving from the category high school diploma or equivalent ($31,956) to the category graduate or professional degree ($75,495). Whereas only 6% of adults holders of a bachelor's degree or higher are less likely to smoke, among the group with a high school diploma or equivalent, that figure is 23%. Adults with a bachelor’s degree or higher (65%) are more likely to meet exercise guidelines than possessors of a high school diploma or equivalent (43%). Moreover, adult degree holders and those with some college, but no degree, represent a larger share of workers (69%) than those with a high school diploma or less (32%).

Impact Burden Of And Solutions For FAFSA Verification

The Free Application for Federal Student Aid (FAFSA) unlocks access to federal financial aid programs, including the cornerstone of need-based aid: the Pell Grant. Millions of postsecondary students complete the FAFSA annually, but a significant portion of them cannot receive their aid without completing an additional, lengthy process called verification to confirm that their FAFSA is accurate. Without completion of this audit-like process, students are unable to access federal financial aid, and in many cases state or institutional financial aid. Verification recently has come under scrutiny for its questionable value to the taxpayer and the burden it places on students and institutions. Concerns include the question, is the burden worth the impact on financial aid offices when one in five financial aid administrators spend at least half their time on the verification process?

The National College Attainment Network (NCAN) and the National Association of Student Financial Aid Administrators (NASFAA) joined together to survey both financial aid administrators as well as college access and success advisers on the impact of verification on their students and their work within this landscape of verification relief and scrutiny. In a paper released by the two organizations in November 2021, an exploration looks at those experiences and offers recommendations to decrease the burden verification places on students and financial aid administrators alike.

CBO Cost Estimates For The Build Back Better Act

The Congressional Budget Office (CBO) was requested by Capitol Hill legislators to prepare a cost estimate for the current version of H.R. 5376, the Build Back Better Act (Rules Committee Print 117-18). Provision of this information likely will affect the vote eventually taken on this bill. Several provisions of this proposed legislation pertain to higher education. Title II, Subtitle A, Part 2 discusses these components of H.R. 5376. One example is increasing the maximum federal Pell Grant for enrollment of students at institutions of higher education. A related aspect involves an increase in these grants for recipients of means-tested benefits.

Another provision focuses on retention and completion grants to enable various eligible entities to carry out specific activities, such as expanding evidence-based reforms or practices to improve student outcomes at institutions of higher education in the State or system of institutions of higher education, and how an eligible entity will sustain such reforms or practices after the grant period ends. Priority will be given to entities that propose to use a significant share of grant funds for groups, such as students of color and low-income students.