...Through the ages!

Financial Aid and the games people

play

First Scholarship Established at Harvard

University

The early (early) years…

First Student Loan Program Established at Harvard University

The Game of Life

Creation of US Department of Education

Senet - the oldest board game known to

exist.

Mah Jongg

2000BC

Bingo

15303500 BC 1643 1840 1867 1860 1880

Snakes and Ladders

‘30’s ,‘40’s and ’50’s…

John Monro of Harvard Presents First Need Analysis

Formula

CSS Introduces the Parent's Confidential

Statement (PCS)

National Defense Education Act

1944

GI Bill

Parker Brothers produces Monopoly

1935 1953

College Scholarship Service (CSS)

Created

1954 1956 1958 1957

Risk is released

1948

Scrabble

CSS Introduces the Married Student Supplement which

later evolved into the Student's Financial Statement (SFS)

National Association of Student Financial Aid Administrators

(NASFAA) Created

‘60’s…

Health Professions Educational Assistance Act of 1963 (student

loans)

Economic Opportunity Act of 1964 (started college work-study and

authorized Head Start, Upward Bound, and VISTA)

Civil Rights Act of 1964

Higher Education Act of 1965

Password introduced based on TV game show

1961 1963 1964 1965 1968

1962

CSS introduces the Financial Aid Form

‘70’s…

Harry S Truman Memorial Scholarship Act

Department of Education

Organization Act

Educational Opportunity Grant (renamed Supplemental

Educational Opportunity Grant)

Basic Educational Opportunity Grant (origin of the Pell Grant, first federal

need analysis formula)

Education Amendments of 1972

Student Loan Marketing Association (Sallie Mae)

established

Family Educational Rights and Privacy Act

(FERPA)

Education Amendments of 1976 (added SAP requirements and state loan-

guarantee agencies)

Dungeon board game precedes Dungeons and Dragons video

game

1972

1973 1974 1975 1976 1979

1977

Penté created by a dishwasher at

Hideaway Pizza in Stillwater, OK

US Department of Education elevated to a cabinet-level

department.

Montgomery GI Bill - Active Duty

‘80’s…

The Consolidated Omnibus Budget Reconciliation Act of

1985

Supplemental Loans to Students Reform Bill

Omnibus Budget Reconciliation Act

(Federal student loans depend on financial need again and add an

origination fee)

Defense Authorization Act of 1982/1983

(Selective Service registration required for financial aid eligibility)

Reauthorization of the Higher Education Act

Tax Reform Technical Amendments (created Education Savings Bonds)

Student Loans Reconciliation Amendments

Trivial Pursuit becomes an obsession in the US

1980 1981 1982 1982 1985 1986 1988 1989

‘90’s…

Omnibus Budget Reconciliation Act of 1990

(elimination of student aid eligibility at high default schools)

Higher Education Amendments of 1992

Establishment of FinAid web site

First free large online scholarship search database

(FastWeb)

Veterans' Educational Assistance Amendments of

1991

Student Loan Reform Act (established direct lending, added income

contingent repayment)

1990 1991 1992 1993 1994 1995

Introduction of Jumanji

‘90’s…

Direct Lending introduces loan discounts

Default Rate Changes. A steady decline in national student loan default rates began in 1998 with

several changes introduced by the Higher Education Amendments of

1998

The introduction of FAFSA on the Web

(leads to significant shift from paper applications to electronic applications.)

US 5th Circuit Court of Appeals ruling in Hopwood

v. Texas (prohibits the use of race or ethnicity in admissions and

financial aid in Texas, Louisiana, and Mississippi)

Higher Education Amendments of 1998

(renamed SSIG as LEAP, created GEAR UP, suspended student aid

eligibility for drug convictions, and added Extended Repayment)

1996 1997 1998 1999

A New Millennium…

The Health Care and Education Reconciliation

Act of 2010

Public Law 107-139 (changed education loan interest rates from variable rates to fixed rates for new loans issued after

July 1, 2006. The interest rate on Stafford Loans will be 6.8%. The

interest rate on PLUS Loans will be 7.9%)

Higher Education Reconciliation Act of

2005

Economic Growth and Tax Relief

Reconciliation Act of 2001

FY2006 Federal Budget cuts 1% from all discretionary

spending, including student aid.

Section 220 of the Bankruptcy Abuse Prevention and Consumer Protection

Act of 2005

The Tax Relief and Health Care Act of 2006

(P.L. 109-432, December 20, 2006), also known as the omnibus tax extender bill

extended the Tuition and Fees deduction for two years (2006

and 2007).

2001 2002 2005 2006 2007

The Revised Continuing Appropriations

Resolution of 2007

Lenders and colleges agreed to abide by a new code of conduct that bans

certain practices

2008

Reauthorized the Higher Education Act of 1965 after more than a dozen

extension acts. The Higher Education Opportunity Act of 2008

2010

• Financial Aid is constantly changing.

• Financial Aid (like board games) have rules and

require strategy!

• Adhere to the regulations but find a strategy for

administering aid that maximizes your efforts.

• Make good use of the FA network!

• The financial aid profession is like a geek network.

Different people have different experiences and

approaches to solving complex problems.

Get to know your colleagues and let us help you!

So what does this mean?

• National Association of Student Financial Aid Administrators (NASFAA)

• www.nasfaa.org

• NASFAA News

• Southern Association of Student Financial Aid Administrators (SWASFAA)

• Arkansas, Louisiana, New Mexico, Oklahoma, Texas

• www.swasfaa.org

• Texas Association of Student Financial Aid Administrators (TASFAA)

• www.tasfaa.org

• TASFAA listserv

• US Department of Education

• FSA Conference

• Software Providers

• Attend conferences, trainings, get involved, network!

Who Can Help Me?

We hope you have a wonderful week of learning!

SORRY! if we overwhelm you with information