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2012-2013 Important Changes to Federal Student Aid
Office of Financial Aid
Important Changes to Federal Aid Programs for the 2012-2013 Award Year
On December 23, 2011, President Obama signed into law the Consolidated Appropriations Act, 2012 (Public Law 112-74). The new law significantly impacts the Federal student aid programs
authorized under Title IV of the Higher Education Act of 1965, as amended (HEA). As a result, there have been several changes to the Federal Student Aid (Title IV) programs and eligibility for the 2012-2013 award year and beyond. To keep you informed and prepared, we are providing the following information to all SUBR Students, Faculty, and Staff. Please review all of the following information to determine how it will affect you, your students (faculty), and family members.
- IRS Data Retrieval Process
- FASFA Application selected for verification
- Congress changes maximum timeframe for Pell Grant eligibility form 18 to 12 semesters (For Everyone)!
- Pell Grant Expected Family Contribution (EFC) Eligibility decreases from 5273 to 4995
- Loss of Subsidized Loan Eligibility for Graduate and Professional Students