Simplifying Financial Aid for Students Act of 2014 - Amends title IV (Student Assistance) of the Higher Education Act of 1965 to require the Secretary of Education to provide for the use of data from the second preceding tax year when and to the extent necessary to carry out the simplification of applications used in estimating and determining financial aid eligibility. Requires such simplification to include data sharing between the Internal Revenue Service (IRS) and the Department of Education, pursuant to taxpayer consent.
Increases (from $23,000 to $30,000) the limit on the adjusted gross income that parents, in the case of dependent students, and students and their spouses, in the case of independent students with dependents other than a spouse, may make if those students are to be considered as having zero expected family contribution in the determination of their need for financial aid.
[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[S. 2340 Introduced in Senate (IS)]
113th CONGRESS
2d Session
S. 2340
To amend the Higher Education Act of 1965 to require the Secretary to
provide for the use of data from the second preceding tax year to carry
out the simplification of applications for the estimation and
determination of financial aid eligibility, to increase the income
threshold to qualify for zero expected family contribution, and for
other purposes.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
May 14, 2014
Mr. Booker introduced the following bill; which was read twice and
referred to the Committee on Health, Education, Labor, and Pensions
_______________________________________________________________________
A BILL
To amend the Higher Education Act of 1965 to require the Secretary to
provide for the use of data from the second preceding tax year to carry
out the simplification of applications for the estimation and
determination of financial aid eligibility, to increase the income
threshold to qualify for zero expected family contribution, and for
other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Simplifying Financial Aid for
Students Act of 2014''.
SEC. 2. USING DATA FOR SECOND PRECEDING YEAR.
Section 480(a)(1)(B) of the Higher Education Act of 1965 (20 U.S.C.
1087vv(a)(1)(B)) is amended to read as follows:
``(B) Notwithstanding section 478(a) and beginning
not later than 180 days after the date of enactment of
the Simplifying Financial Aid for Students Act of 2014,
the Secretary shall provide for the use of data from
the second preceding tax year when and to the extent
necessary to carry out the simplification of
applications (including simplification for a subset of
applications) used for the estimation and determination
of financial aid eligibility. Such simplification shall
include the sharing of data between the Internal
Revenue Service and the Department, pursuant to the
consent of the taxpayer.''.
SEC. 3. ZERO EXPECTED FAMILY CONTRIBUTION.
Section 479(c) of the Higher Education Act of 1965 (20 U.S.C.
1087ss(c)) is amended--
(1) in paragraph (1)(B), by striking ``$23,000'' and
inserting ``$30,000''; and
(2) in paragraph (2)(B), by striking ``$23,000'' and
inserting ``$30,000''.
<all>
Introduced in Senate
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
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