By: Raymond AlQaisi, Senior Manager of Policy and Advocacy
Reading time: 5 mins.
Last week, Richard Cordray – chief operating officer at the Office of Federal Student Aid (FSA) – spoke to the 1,200 NCAN members and partners in attendance at the NCAN 2022 National Conference.
Dr. Sujuan Williams Boutté – Executive Director of the Louisiana Office of Student Financial Assistance and NCAN Board Member – provided introduction for Mr. Cordray and set the stage for a discussion around equitable student access to federal aid, college
affordability, and the essential tools and strategies employed by NCAN members to support students in college-going and degree attainment.
Mr. Cordray framed his remarks in context of FSA’s mission, and the work to transform the trajectories of millions of individuals and families through student assistance. This spirit also rings true among our members and the college access and success
community’s efforts. Mr. Cordray described this work as “not just patriotic, it’s personal,” speaking to his own familial experiences with higher education and FSA’s directive to invest in students' educational aspirations.
All Things FAFSA
Mr. Cordray commended the NCAN membership and partners for all their work to support students. When discussing completion rates for the Free Application for Federal Student Aid (FAFSA), he referred to NCAN as a "critical ally." He also spoke to states
efforts to boost FAFSA completion, such as those who have implemented Universal FAFSA policies; and recognized Alabama and Texas for impressive gains made this past cycle, noting “We will
be interested to see further progress ahead.”
He also discussed FSA’s improvements when it comes to the verification of information provided by students and families on the FAFSA. NCAN has long supported reforming the process to reduce undue burden for students and those that help students complete the FAFSA, while still maintaining program integrity. He cited progress on this issue, explaining that in recent years, FAFSA verification rates have gone down thanks to more accurate selection based
on a “machine learning model.” In stark contrast from recent highs of a 30% verification rate (in 2016), the upcoming cycle that starts Oct. 1 is expected to only have an overall 7% of FAFSA filers experience this process. Cordray concluded by saying,
“We will keep listening and learning to lower the FAFSA verification rate and ensure that filers get all of the financial aid that they can.”
FSA Capacity
Mr. Cordray’s remarks at NCAN's National Conference come at a very busy time for FSA. In addition to the routine processing of federal student aid and the opening of a new FAFSA cycle, FSA is also working through implementing
FAFSA simplification—a longstanding and hard-fought for priority of NCAN’s.
Additionally, the Department of Education and FSA are also working on several major regulatory changes, the limited-time PSLF Waiver,
return to repayment and debt cancelation for federal student loan borrowers. And this is not an exhaustive list.
In closing and when asked about FSA’s overwhelming concurrent initiatives, Mr. Cordray replied “We are trying to do a lot of things at once, we want to do them well, and it is taxing us to the utmost.” While he admitted there is a “full plate” afoot for
FSA, Mr. Cordray expressed confidence that his team will meet the moment.
NCAN will keep our members updated on the variety of current student aid issues that FSA is working through this fall.
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