On Monday, President Obama traveled to Des Moines Iowa to talk about FAFSA. What is FAFSA, you ask? I asked it and found the answer on the Internets! FAFSA is “Free Application for Federal Student Aid” and is the form that parents and kids need to fill out to get federal aid for college.
… here’s the thing — just as higher education has never been more important, let’s face it, it’s never been more expensive. And that’s why [Secretary of Education] Arne [Duncan] and I have been working to try to make college and post-high school education more affordable. We’ve increased scholarships. We reformed our student loan system that funneled billions of taxpayer dollars into big banks — we said, let’s cut out the middleman, let’s put that money directly to students. We created a new tax credit of up to $2,500 to help working families pay for tuition and books and fees. We’re helping people cap their federal student loan payments at 10 percent of their income. So if you want to be a teacher, or you want to be a social worker, or some other profession that may not make a huge amount of money, you can still do that, knowing that you’re not going to go — you’re still going to be able to afford to support yourself and your family while doing it. And we’re fighting for two years of free community college for any student that’s willing to work for it. (Applause.)
The bottom line is, is that no young person in America should be priced out of college. They should not be priced out of an education.
(Transcript below the fold)
A higher education is one of the most important investments Americans can make in their future. To help students and families make that investment, the Obama Administration has taken steps to make it easier than ever before to apply for and access federal grants and loans. […]
The President will announce a new initiative to allow students and families to apply for financial aid earlier – starting in October as the college application process gets underway – rather than in January. In addition, students filling out the FAFSA will be able to electronically retrieve tax information filed for an earlier year, rather than waiting until tax season to complete their applications. Learning about aid eligibility options much earlier in the college application and decision process will allow students and families to determine the true cost of attending college – taking available financial aid into account – and make more informed decisions.
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