NACAC, representing, along with its 23 state and regional affiliates, more than 20,000 high school counselors and college admission officers nationwide, supports Education Reconciliation: The Student Aid and Fiscal Responsibility Act.
As education professionals dedicated to helping all students make the transition to postsecondary education, NACAC members consider improving college access to be the number one educational priority for the association. The SAFRA Act will provide affordable postsecondary education opportunities for a generation of Americans. NACAC particularly applauds inclusion of the following investments:
• $36 billion for the Pell Grant Program
Need-based financial aid programs are the most successful federal college access programs. Aligning the grant with cost-of-living increases will preserve the purchasing power of these grants and further improve college access.
• $750 million for the College Access Challenge Grant Program
Through this program, professional development for school counselors and college admission officers, as well as college-preparatory information for students and families, will increase the number of low-income students who are prepared to enter and succeed in postsecondary education.
• $1.5 billion for Income-Based Repayment Program
Capping monthly federal student loan payments at 10 percent of discretionary income with balance forgiveness after 20 years makes borrowing more affordable.
• $2 billion for Community Colleges
Preparing students and workers for competitive jobs will help strengthen our economy and keep America competitive.
NACAC also appreciates the provision that all new federal student loans will be originated through the Direct Loan program, which the Congressional Budget Office and the Department of Education's Inspector General note is more stable, effective, and cost-efficent than the Federal Family Education Loan program. This conversion is reliable for students and cost-effective for taxpayers.
“College access and success occur across a continuum during which students encounter financial, academic, and personal obstacles,” stated Joyce Smith, NACAC CEO. “We believe SAFRA addresses multiple points along this continuum, and constitutes an historic investment in student assistance.”
About NACAC:
NACAC is an Arlington, VA-based education association of more than 11,000 secondary school counselors, independent counselors, college admission and financial aid officers, enrollment managers, and organizations that work with students as they make the transition from high school to postsecondary education. The association, founded in 1937, is committed to maintaining high standards that foster ethical and social responsibility among those involved in the transition process, as outlined in the NACAC Statement of Principles of Good Practice. More information about NACAC is available at www.nacacnet.org.