Federal financial aid bill is delayed
The U.S. House of Representatives has approved HR 3784, extending by three months the deadline to reauthorize the Higher Education Act. The Act was due to expire on September 30.
The reauthorization bill contains a provision that would provide equivalent financial aid treatment for 529 prepaid tuition plans and 529 savings plans. Under the existing law, prepaid tuition plans are treated more harshly and reduce aid eligibility on a dollar for dollar basis.
The House version of the HEA reauthorization is HR 609 and the Senate version is S 1614. Once passed in the House and Senate, these bills will have to be reconciled before final passage.
Return to 529 News centerThe reauthorization bill contains a provision that would provide equivalent financial aid treatment for 529 prepaid tuition plans and 529 savings plans. Under the existing law, prepaid tuition plans are treated more harshly and reduce aid eligibility on a dollar for dollar basis.
The House version of the HEA reauthorization is HR 609 and the Senate version is S 1614. Once passed in the House and Senate, these bills will have to be reconciled before final passage.