NASFAA Offers Tool to Help Navigate Upcoming Fiscal Processes
Congress provided temporary relief to “fiscal cliff” fears through passage of the American Taxpayer Relief Act in early January, which delays sequestration—the across-the-board cutting mechanism—until March, 1 2013. That date, and the subsequent threat of sequestration, is fast approaching. Whereas seasoned observers originally speculated that Congress would find a way to stop sequestration, many now speculate that it will in fact occur. Sequestration is a 10-year process and would impose large cuts to most of the student aid programs beginning with the 2013-14 award year.