S 1872 114th Congress Senate Education Higher education Student aid and college costs Tax administration and collection, taxpayers

Simplifying Financial Aid for Students Act of 2015

Introduced: July 27, 2015 Introduced by: Booker, Cory A. Democratic · New Jersey See on congress.gov

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Jul 27, 2015

Read twice and referred to the Committee on Health, Education, Labor, and Pensions.

Jul 27, 2015

Introduced in Senate

Plain-English summary Congressional Research Service

Simplifying Financial Aid for Students Act of 2015

This bill amends title IV (Student Assistance) of the Higher Education Act of 1965 to require the Department of Education (ED) to provide for the use of tax information from the second preceding tax year (the "prior, prior year") to determine a student's financial aid eligibility. It requires data sharing between the Internal Revenue Service and ED, pursuant to taxpayer consent.

The bill also increases from $23,000 to $30,000 the adjusted gross income threshold used to determine whether a student qualifies for an automatic zero expected family contribution (EFC) in the calculation of such student's financial need. A dependent student is eligible for an automatic zero EFC if the student's parents have adjusted gross income up to $30,000. An independent student with non-spouse dependents is eligible for a zero EFC if the student and spouse have adjusted gross income up to $30,000.

What's happening now July 27, 2015

Read twice and referred to the Committee on Health, Education, Labor, and Pensions.

Committees of jurisdiction 1