Changes to the Free Application for Federal Student Aid, or Fafsa, will allow people to make contributions to their 401(k) without it impacting the amount of financial aid they receive.
WSJ personal-finance reporter Oyin Adedoyin joins host J.R. Whalen to discuss.
PHOTO: ISTOCKWASHINGTON—Senators are taking fresh aim at legacy and donor preferences for admission to college, as advantages given to certain students and groups come under increasing scrutiny following a recent Supreme Court ruling striking down the use of race in college admissions.
and Tim Kaine (D., Va.)—called the MERIT Act—would try to end legacy admissions at colleges and universities.
The bipartisan legislation would add a new standard for accreditation under the Higher Education Act that would prohibit institutions from giving preferential treatment during the admissions process based on an applicant’s relationship to alumni or donors.
Persons:
Oyin Adedoyin, Whalen, Todd Young, Tim Kaine, —
Organizations:
Federal Student Aid, WASHINGTON —, Sens, Higher
Locations:
Ind, Va