Higher Ed Policy Roundup: Vol. 8 - Issue 15

On Tuesday, Education Department (ED) Secretary Miguel Cardona testified before the Senate Appropriations Subcommittee on Labor, Health and Human Services, Education, and Related Agencies detailing President Biden’s $82 billion fiscal year 2025 budget, though many questions focused on the Free Application for Federal Student Aid (FAFSA). Recall that the FAFSA has been plagued with issues stemming from delays due to the implementation of the FAFSA Simplification Act. When asked by committee members why ED failed to implement the FAFSA properly and whether ED will meet the October 1st deadline for the upcoming cycle, Secretary Cardona acknowledged that ED could have been better prepared to roll out the FAFSA and that ED is working hard to ensure it meets the October 1st deadline. You can watch the Appropriations Subcommittee hearing.

Last Friday, ED announced that chief operating officer of the Office of Federal Student Aid, Richard Cordray, will be stepping down from his position amid fallout from the FAFSA rollout. Cordray, whose three-year appointment ends this month, will stay on until June to oversee ongoing projects but will not seek another term.

A study on the lifetime rate of return for college education found it varies significantly by major and by a student's gender, race, and ethnicity.

Using data from the National Center for Education Statistics, a recent report found that incoming college freshmen will, on average, accrue $37,000 in student loan debt.

There were no relevant student-aid related bills recently introduced for consideration by the 118th Congress (2023-2024).