FY 2015 Budget

Lawmakers have reached an agreement on a $1.1 trillion spending package for fiscal year (FY) 2015 that will avert a government shutdown, with small increases for some key student aid programs. FY 15 budget decisions will impact funding for award year 2015-16. Find the latest news, resources and information in this budget center.

Articles & Resources

Spending Bill Funds Max Pell, Provides Modest Increase to Some Programs - NASFAA's Summary of Student Aid Changes

December 11, 2014 - The Consolidated and Further Continuing Appropriations Act, also given the moniker “cromnibus”, combines 11 appropriations bills into one, along with a continuing resolution (CR) for the Department of Homeland Security. Given the fiscal environment of austerity and sequestration, the federal student aid programs fared relatively well in the bill, with some programs even receiving modest increases. In addition, the spending package partially re-instates the ability to benefit option, a provision that was eliminated just a few short years ago in the final FY 2012 spending bill.

Congress Releases Details of FY15 Funding Bill

December 10, 2014 - The House and the Senate released details of an omnibus spending bill that will combine eleven of the appropriations bills into one, along with a CR for the Department of Homeland security. This combination of an omnibus and CR is a result of political concerns from President Obama’s executive action on immigration and has given rise to the moniker “cromnibus” to describe the legislation.

Budget Tool PreviewFederal Budget Process Tool

To better understand the budget process, check out NASFAA's interactive tool. 

NASFAA Monograph - A Primer on the Federal Budget Process

Download this in-depth review of the federal budget process.