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ERIC Number: ED558522
Record Type: Non-Journal
Publication Date: 2014
Pages: 12
Abstractor: ERIC
Reference Count: 2
ISBN: N/A
ISSN: N/A
The Campus-Based Formula. NASFAA Task Force Report
National Association of Student Financial Aid Administrators
The primary purpose of the National Association of Student Financial Aid Administrators (NASFAA) Campus-Based Aid Allocation Task Force was to examine the formula by which congressional appropriations for the Federal Supplemental Educational Opportunity Grant (FSEOG), Federal Work-Study (FWS), and Perkins Loan programs are distributed to schools, and, in consultation with appropriate groups, develop proposals for changes to the allocation formula as part of the Association's reauthorization recommendations. The task force was charged to produce proposals for incorporation into NASFAA's recommendations for the reauthorization of the Higher Education Act that: (1) More accurately and equitably reflect the comparative need of the student populations of schools applying for campus-based aid allocations; (2) Evaluate the efficacy of current reallocation rules for released funds; (3) Give new participating schools a fairer chance to obtain funding; and (4) Include an assessment of the shifts in funding among current program participants that would result from recommended formula change(s). The guiding principles of the Campus-Based Aid Allocation Task Force were to: (1) Promote fairness and equity for students across all sectors of postsecondary education; (2) Promote policies that address the needs of disadvantaged students; (3) Recommend policies that accommodate the diversity of academic delivery models; and (4) Support recommendations with research and data analysis. Based on the research and discussions the task force developed, and the NASFAA Board accepted and endorsed, the following recommendations are detailed in this report: (1) Reconstruct the income bands used to determine institutional need for campus-based programs to more accurately report student need; (2) Eliminate the Base Guarantee and include phase-in protection so that no institution has a decrease or increase of more than 10% per year; (3) Restructure the FSEOG formula to be based on the amount of Pell funding received by the institution, including a phase-in provision whereby no institution has a decrease or increase of more than 10% per year; and (4) Increase the percent of self-help assumed in the undergraduate institutional need calculation of the Federal Work-Study and Perkins Loan formulas to 35% self-help, including a phase-in provision whereby no institution has a decrease or increase of more than 10% per year. The task force conducted its work between October 2013 and June 2014, and its recommendations were accepted and approved by the NASFAA Board of Directors in June 2014.
National Association of Student Financial Aid Administrators. 1101 Connecticut Avenue NW Suite 1100, Washington, DC 20036. Tel: 202-785-0453; Fax: 202-785-1487; e-mail: membership@NASFAA.org; Web site: http://www.nasfaa.org
Publication Type: Reports - Evaluative
Education Level: Higher Education; Postsecondary Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: National Association of Student Financial Aid Administrators (NASFAA)
Identifiers - Laws, Policies, & Programs: Higher Education Act 1965; Perkins Loan Program