Scrolling Headlines:

UMass women’s basketball suffers disappointing loss to St. Bonaventure at Mullins Center Thursday -

January 19, 2017

REPORT: Tom Masella out as defensive coordinator for UMass football -

January 19, 2017

Zach Lewis, bench carry UMass men’s basketball in win over St. Joe’s -

January 19, 2017

UMass women’s basketball handles Duquesne at home -

January 16, 2017

UMass men’s basketball’s late comeback falls short after blowing 15-point first-half lead -

January 15, 2017

UMass hockey outlasted at home against No. 6 UMass Lowell -

January 14, 2017

Hailey Leidel hits second buzzer beater of the season to give UMass women’s basketball win over Davidson -

January 13, 2017

UMass football hosts Maine at Fenway Park in 2017 -

January 12, 2017

UMass men’s basketball snaps losing streak and upsets Dayton Wednesday night at Mullins Center -

January 11, 2017

UMass women’s track and field takes second at Dartmouth Relays -

January 10, 2017

UMass hockey falls to No. 5 Boston University at Frozen Fenway -

January 8, 2017

UMass professor to make third appearance on ‘Jeopardy!’ -

January 8, 2017

UMass women’s basketball suffers brutal loss on road against Saint Joseph’s -

January 7, 2017

UMass men’s basketball drops thirds straight, falls to VCU 81-64 -

January 7, 2017

UMass men’s basketball drops tightly-contested conference matchup against George Mason Wednesday night -

January 4, 2017

Late-game defense preserves UMass women’s basketball’s win against rival Rhode Island -

January 4, 2017

AIC shuts out UMass hockey 3-0 at Mullins Center -

January 4, 2017

UMass professor to appear as contestant on ‘Jeopardy!’ Thursday night -

January 4, 2017

Penalties plague UMass hockey in Mariucci Classic championship game -

January 2, 2017

UMass men’s basketball falls in A-10 opener to St. Bonaventure and its veteran backcourt -

December 30, 2016

Why SAFRA will benefit students

Amidst the impending doom of federal stimulus money evaporating next semester and the inevitable annual fee hike along college campuses, students last week got at least a glimmer of hope when the Student Aid and Fiscal Responsibility Act (SAFRA) passed the House of Representatives.

The bill, which passed by a 253-171 voting margin, is designed to restructure financial aid for college students, increase federal grant money, cut out private lenders from the student loan process, and, according to the bill’s backers, save $87 billion for taxpayers in a 10-year period. 

It’s great news and a distinct improvement for college students everywhere – except for that last part.

The estimate, which stems from the Congressional Budget Office’s analysis, has been the target of a great deal of criticism since the vote. And rightly so.

Although the bill’s aim is to cut costs and save money by simplifying and streamlining the currently clunky financial aid system by allowing students to take out loans directly from the government through their university, the impact on taxpayers is not expected to be so beneficial. In fact, opponents of the bill have come forth claiming that, rather than saving money, the damage of the retooling and increase in financial aid will be around $50 billion dollars out of taxpayers’ wallets.

While the price tag of the proposal is under siege, the bill’s restructuring of the financial aid system will be beneficial to students.

First, the bill will simplify the Free Application for Federal Student Aid (FAFSA). Rather than go through an entirely different process, the FAFSA forms will take the same information that goes on tax returns.

Second, students will handle their loans through their respective universities and colleges to receive money from the government. This change will eliminate the middle man from the loan equation, but will not push lenders out of business. While not handling the loans, private companies will still collect and service the loans.

Despite this, it’s far too early for students to hail SAFRA as the end of college debt. The changes placed in the bill will be beneficial to college students and improve the system, but the fiscal claims that are coming out from its supporters are far too outlandish to be taken seriously.

When one side predicts almost $90 billion in savings while the other projects almost $50 billion in cost, someone’s wrong. And with the way the financial aid system has been implemented in the past, the inevitable conclusion is that the outcome will be closer to the latter. While the bill’s feared cost didn’t get any flack in the house, the Senate opposition is expected to put up a bigger fight.

It’s impossible to argue the benefits of the SAFRA bill. It’s the best thing that’s come out for college students for a while. But with estimates so radically different, the underestimation of spending costs in recent legislature and the overall status of the nation’s economy, it’s too early to put away the picket signs.

Unsigned editorials represent the majority opinion of The Massachusetts Daily Collegian editorial board.

Leave A Comment