On March 15, Mark Wiederspan, executive director of Iowa College Aid, sent a letter to Senator Chuck Grassley highlighting concerns about how future changes to the FAFSA will impact students whose families own family farms and/or small businesses.

Specifically, the FAFSA Simplification Act will require the net worth of a family farm or small business to be reported as an asset on the FAFSA, beginning with the 2024–2025 FAFSA. Family farms and small businesses (100 or fewer full-time employees) are currently excluded from reportable assets on the FAFSA.

If you share Dr. Wiederspan’s concerns, you can contact your legislators in congress. To lookup your legislators, click here.

— Ryan Zantingh, Director of Financial Aid