FAFSA Simplification Technical Corrections Act

To make technical corrections to the FAFSA Simplification Act. 1. Short title This Act may be cited as the FAFSA Simplification Technical Corrections Act 2. Early implementation of FAFSA simplification (a) FAFSA Simplification Act The FAFSA Simplification Act (title VII of division FF of Public Law 116–260 (1) in section 702— (A) in subsection (n), by adding at the end the following: (3) Implementation In carrying out the amendments made by paragraph (1)(A)(i), and paragraph (1)(A)(iv) to add subsection (s) to section 484 of the Higher Education Act of 1965, or any regulations promulgated under such amendments, the Secretary of Education may waive the application of— (A) subchapter I of chapter 35 Paperwork Reduction Act (B) the master calendar requirements under section 482 of the Higher Education Act of 1965 ( 20 U.S.C. 1089 (C) negotiated rulemaking under section 492 of the Higher Education Act of 1965 ( 20 U.S.C. 1098a (D) the requirement to publish the notices related to the system of records of the agency before implementation required under paragraphs (4) and (11) of section 552a(e) of title 5, United States Code (commonly known as the Privacy Act of 1974 ; and (B) by adding at the end the following: (q) Early effective date; implementation (1) Effective date Notwithstanding section 701(b) of this title, the Secretary of Education may implement the amendment made by subsection (l)(1) of this section, which pertains only to foster youth and unaccompanied homeless youth, before (but not later than) July 1, 2023. The Secretary shall specify in a designation on what date, under what conditions, and for which award years the Secretary will implement such amendment prior to July 1, 2023. The Secretary shall publish any designation under this paragraph in the Federal Register at least 60 days before implementation. (2) Implementation In carrying out the amendment made by made by subsection (l)(1) of this section, which pertains only to foster youth and unaccompanied homeless youth, or any regulations promulgated under such amendment, which pertains only to foster youth and unaccompanied homeless youth, the Secretary of Education may waive the application of— (A) subchapter I of chapter 35 Paperwork Reduction Act (B) the master calendar requirements under section 482 of the Higher Education Act of 1965 ( 20 U.S.C. 1089 (C) negotiated rulemaking under section 492 of the Higher Education Act of 1965 ( 20 U.S.C. 1098a (D) the requirement to publish the notices related to the system of records of the agency before implementation required under paragraphs (4) and (11) of section 552a(e) of title 5, United States Code (commonly known as the Privacy Act of 1974 ; and (2) in section 705, by adding at the end the following: (c) Implementation In carrying out the repeal made by subsection (a), or any regulations promulgated under such repeal, the Secretary of Education may waive the application of— (1) subchapter I of chapter 35 Paperwork Reduction Act (2) the master calendar requirements under section 482 of the Higher Education Act of 1965 ( 20 U.S.C. 1089 (3) negotiated rulemaking under section 492 of the Higher Education Act of 1965 ( 20 U.S.C. 1098a (4) the requirement to publish the notices related to the system of records of the agency before implementation required under paragraphs (4) and (11) of section 552a(e) of title 5, United States Code (commonly known as the Privacy Act of 1974 . (b) Technical amendment to cost of attendance (1) In general Section 472(a)(13) of the Higher Education Act of 1965, as amended by section 702(b) of the FAFSA Simplification Act (title VII of division FF of Public Law 116–260 , or the average cost of any such fee or premium, as applicable on such loan (2) Effective date The amendment made by paragraph (1) shall take effect as if included in section 702 of the FAFSA Simplification Act (title VII of division FF of Public Law 116–260

Summary: FAFSA Simplification Technical Corrections Act This bill allows the Department of Education to waive specified procedural requirements regarding the implementation of certain changes to the Free Application for Federal Student Aid. The bill also allows an institution of higher education, for purposes of calculating federal student-aid eligibility, to include in a student's cost of attendance the average cost (instead of the specific cost) of a loan fee, origination fee, or insurance premium.