Simplifying Financial Aid for Students Act of 2015

Summary

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.

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Timeline

1. 27 July 2015

   Introduced

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

   Source: IntroReferral

2. 27 July 2015

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 27 July 2015 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 27 July 2015

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 27 July 2015

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 27 July 2015

  Open at official source

Sponsors

• Sen. Booker, Cory A. [D-NJ] · D · Sponsor
• Sen. Hirono, Mazie K. [D-HI] · D · Sponsor
• Sen. Franken, Al [D-MN] · D · Sponsor
• Sen. Stabenow, Debbie [D-MI] · D · Sponsor
• Charles Schumer · D · Sponsor
• Timothy Kaine · D · Sponsor
• Sen. Mikulski, Barbara A. [D-MD] · D · Sponsor
• Sen. Tester, Jon [D-MT] · D · Sponsor
• Edward Markey · D · Sponsor
• Christopher Murphy · D · Sponsor
• Brian Schatz · D · Sponsor
• Jeff Merkley · D · Sponsor
• Gary Peters · D · Cosponsor
• Sen. Brown, Sherrod [D-OH] · D · Cosponsor
• · sshr00 · Standing

Related records

• related to ← Simplifying Financial Aid for Students Act of 2015