President Obama traveled to Des Moines on Monday and appeared alongside Education Secretary Arne Duncan. At the event, Obama announced a series of new initiatives related to how students apply for college and receive financial aid.

Students attending college every year must fill out the Free Application for Federal Student Aid (FAFSA). One of Obama’s initiatives calls for an “earlier, easier” process for financial aid.

• FAFSA will be available earlier — allows students to file starting in October, instead of January.
• Simpler application — allows students to use electronically received information about their parents’ taxes.
• More students benefiting from pell grants — the simplified process will allow more students to benefit from financial aid.
• Reduces burden on college — colleges will save time with the simplified process and it will be easier to verify information.