Simplifying the Application for Student Aid Act
(Sec. 2) This bill amends title IV (Student Assistance) of the Higher Education Act of 1965 to require the Department of Education (ED) to use tax information from the second preceding tax year (the "prior, prior year") to determine a student's financial aid eligibility. It requires data sharing between ED and the Internal Revenue Service (IRS), pursuant to taxpayer consent.
(Sec. 3) The bill revises the annual adjustment percentage calculation used to determine the total maximum Federal Pell Grant award by measuring inflation over the most recent fiscal year instead of calendar year.
(Sec. 4) ED must develop and maintain a consumer-tested technology tool to allow a federal financial aid applicant to complete, save, and submit electronic forms (e.g., the Free Application for Federal Student Aid) using a mobile device.
Additionally, ED must make every effort to allow applicants to utilize the existing IRS data tool to automatically populate the electronic forms with tax return information.
ED must report to Congress on: (1) efforts to simplify the federal financial aid application process, and (2) the needs of limited English proficient students.