U.S. Sen. Richard Burr (R-NC), along with a bipartisan group of five fellow lawmakers, introduced the FAST Act on Thursday, which would simplify the application process for federal funding to attend college, discourage over-borrowing and simplify repayments.
The bill, which is also backed by Sens. Lamar Alexander (R-Tenn.), Michael Bennet (D-Colo.), Cory Booker (D-N.J.), Johnny Isakson (R-Ga.) and Angus King (I-Maine), would eliminate the cumbersome, 108-question FAFSA form, replacing it with a simple two-question “Student Aid Short Form” application on a postcard.
The FAFSA form is used by high school students during their junior year to determine the amount of federal aid they will receive to assist them in paying for college. Currently, the form is more than 10 pages long, and asks a multitude of questions that require research of bank statements, tax forms and other documents.
The proposed new form would be reduced to just two questions: What is your family size? And what was your household income two years ago? With the answers to these questions, students could immediately refer to a chart to locate the amount of aid they are eligible to receive.
“The FAST Act dramatically simplifies the process for answering the two biggest questions students face when going to school,” Burr said. “(They want to know) which college can I afford, and how much assistance can I expect from the federal government? I am happy to lend my support to this legislation, which will make the process for filling out the FAFSA form a snap.”