Financial Aid Rules are Burdensome on Colleges, Report Finds
May 16, 2013
The Government Accountability Office recently released a report analyzing the requirements institutions must comply with in order to qualify for student financial aid funds under Title IV of the Higher Education Act of 1965, reports The Chronicle of Higher Education. The agency interviewed 18 higher education experts, including college financial aid officers, representatives of higher education associations, and researchers who study financial aid, to examine the burden of federal aid program rules on colleges and universities.
According to the report’s findings, numerous information gathering requests that colleges must complete to receive federal funds can divert time and money from their mission to educate students.
The experts interviewed mentioned difficulties with certain consumer disclosure requirements, such as providing information about enrollment, graduation rates, cost of attendance, and campus safety. Problems arise because of the time and difficulty needed to gather information, because reporting periods can vary for different types of information.
Additionally, some of the experts said that rather than one particular requirement creating a burden for institutions, the cumulative burden of several requirements for compliance presents a “substantial challenge.”
Related Links:
GAO Report “ Higher Education: Experts Cited a Range of Requirements as Burdensome
https://www.gao.gov/products/GAO-13-371
The Chronicle of Higher Education
https://chronicle.com/article/Report-Examines-Burden-of/139217/?cid=at&utm_source=at&utm_medium=en
Michelle Cormier Mott
share