Booker supports financial aid reforms

Stefanie Botelho's picture

With college costs outpacing most salary increases across the country, state Sen. Cory Booker, D-N.J., introduced legislation last week designed to make higher education more affordable by making financial aid applications easier.

The legislation — the Simplifying Financial Aid for Students Act of 2014 — would permit applicants to submit tax forms from the prior year when applying for financial aid. For example, a student applying for aid in early 2014 could submit their 2012 tax information instead of 2013 figures, if bill S-2340 passes.

Because financial aid is issued on a first-come, first-served basis starting Jan. 1, families who receive their tax statements later in the year are met with a competitive disadvantage.

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