EXTENDING THE IMPLEMENTATION TIMELINE OF FAFSA SIMPLIFICATION ACT BY ONE YEAR.

SEC. 102. EXTENDING THE IMPLEMENTATION TIMELINE OF FAFSA SIMPLIFICATION ACT BY ONE YEAR. (a) [20 U.S.C. 1001note] Amendments to the FAFSA Simplification Act.—The FAFSA Simplification Act (title VII of division FF of Public Law 116-260) is amended in section 701(b)— (1) by striking “July 1, 2023” both places the term appears and inserting “July 1, 2024”; and (2) by striking “award year 2023-2024” and inserting “award year 2024-2025”. (b) Amendments to the Higher Education Act of 1965.—The Higher Education Act of 1965 (20 U.S.C. 1001 et seq.), as amended by the FAFSA Simplification Act (title VII of division FF of Public Law 116-260), is amended— (1) [20 U.S.C. 1070a] in section 401(b)— (A) in paragraph (5)(A), by striking “award year 2023-2024” and inserting “award year 2024-2025”; (B) in paragraph (6)(A)— (i) in clause (i), by striking “fiscal year 2023” and inserting “fiscal year 2024”; and (ii) in clause (ii), by striking “fiscal years 2023 through 2033” and inserting “fiscal years 2024 through 2034”; (C) in paragraph (7)(B)(i), by striking “or 2022” and inserting “2022, or 2023”; and (D) in paragraph (8)(A), by striking “fiscal year 2033” and inserting “fiscal year 2034”; (2) [20 U.S.C. 1087kk] in section 471, by striking “award year 2023-2024” and inserting “award year 2024-2025”; (3) [20 U.S.C. 1087ss] in section 479(a), by striking “July 1, 2023” and inserting “July 1, 2024”; (4) [20 U.S.C. 1090] in section 483, by striking “award year 2023-2024” each place the term appears and inserting “award year 2024-2025”; and (5) [20 U.S.C. 1092f] in section 485E(b)(2)(B), by striking “award year 2023-2024” and inserting “award year 2024-2025”. (c) [20 U.S.C. 1070a note] On-time Effective Date Permitted.— (1) In general.—Notwithstanding section 701(b) of the FAFSA Simplification Act (title VII of division FF of Public Law 116-260), as amended by this division, the Secretary of Education— (A) may implement on or after July 1, 2023, but not later than, July 1, 2024, the amendments made by— (i) section 702(b) of the FAFSA Simplification Act regarding cost of attendance; (ii) section 702(i) of such Act regarding discretion of student financial aid administrators; (iii) section 702(l) of such Act regarding special rules for independent students and definitions; and (iv) section 703 of such Act regarding only the period of eligibility for grants under subsection (d) of section 401 of the Higher Education Act of 1965, as amended by the FAFSA Simplification Act; and (B) shall specify in a designation on what date and for which award years the implementation of amendments described in subparagraph (A) are effective on or after July 1, 2023, and prior to July 1, 2024, and shall publish any designation under this paragraph in the Federal Register not less than 60 days before implementation. (2) Student aid index as expected family contribution.—For purposes of implementing the amendments described in paragraph (1)(A) before July 1, 2024, the term “student aid index” as it appears in such amendments to the Higher Education Act of 1965 shall mean “expected family contribution”, as calculated under part F of title IV of the Higher Education Act of 1965, as in effect on the date of the implementation.