Senate Democrats Request Increased Funding for Office of Federal Student Aid

Earlier this week, Senator Elizabeth Warren (D-MA) and 16 other Senators sent a letter to the Senate Appropriations Subcommittee on Labor, Health and Human Services, Education, and Related Agencies regarding the need to increase funding for the Department of Education’s Office of Federal Student Aid (FSA). In the letter, Senator Warren and her colleagues request an appropriation of $2.7 billion for FSA for fiscal year 2024. This increase in funding will assist with the implementation of reforms to the student loan system, including improvements to the Public Service Loan Forgiveness (PSLF) program and a new income-driven repayment (IDR) plan for borrowers.

The Senators write in the letter, “FSA’s responsibilities have increased to protect students and borrowers, but its federal funding has remained stagnant. The lack of adequate resources creates more barriers for students to continue their education. We believe this funding request is needed to provide FSA with the resources it needs to fulfill its goal of ensuring that all eligible students and families can access federal student grants, loans, and work-study funds to pursue education and training beyond high school.”

In February 2023, CGS submitted comments to the Department of Education concerning proposed changes to the IDR plan.