Washington, DC, May 27, 2011 --(PR.com
)-- The National Association of Student Financial Aid Administrators (NASFAA), a nonprofit membership organization that represents nearly 20,000 financial aid professionals who administer aid to more than 16 million college students, has published a federal student aid primer to provide basic information about the major aid programs.
Several factors, including rising college costs, economic uncertainty, and record enrollments, have fueled an unprecedented growth in the number of students and families who participate in the federal student aid programs. Data from the U.S. Department of Education's offices of Federal Student Aid (FSA) show that the number of students applying for federal financial assistance rose from around 12.9 million in 2006-07 to nearly 19.5 million in 2010-11. The total amount of federal financial aid awarded to students jumped from $62.1 billion in 1999-00 to an estimated $146.5 billion in 2009-10, an increase of 136 percent.
Despite the increasing importance of federal aid programs, most Americans and many policymakers still have a poor understanding of the federal student aid system and its programs and processes. To help increase understanding of these vital programs and how they work, NASFAA has produced the "2011 Federal Student Financial Aid: A National Profile of Federal Financial Assistance Programs for Postsecondary Students."
This National Profile provides the latest detailed information and data about each of the programs authorized under Title IV of the Higher Education Act, including:
-- descriptions of the federal student aid programs;
-- recent trends in federal program appropriations;
-- income levels of students and families who receive aid; and
-- a description of the federal student aid application process.
The full report can be downloaded at: http://www.nasfaa.org/EntrancePDF.aspx?id=5328
The National Association of Student Financial Aid Administrators (NASFAA) is a nonprofit membership organization that represents nearly 20,000 financial aid professionals at 2,800 colleges, universities, and career schools across the country. Each year, financial aid professionals help more than 16 million students receive funding for post secondary education. Based in Washington, D.C., NASFAA is the only national association with a primary focus on student aid legislation, regulatory analysis, and training for financial aid administrators. For more information, visit www.nasfaa.org.