Financial Aid Form Simplification and Access Act

Financial Aid Form Simplification and Access Act - Amends the Higher Education Act of 1965 to revise the process of applying for student assistance.

Revises requirements for the simplified needs test to take into account dislocated workers and recipients of means-tested federal benefits.

Directs the Secretary of Education to develop and use a simplified paper application form of the Free Application for Federal Student Aid (FAFSA), to be called the FAFSA-EZ, for students who meet the requirements of the automatic zero expected family contribution.

Requires the Secretary to: (1) phase-out by the 2009-2010 award year the paper form (the long form or full FAFSA) for students who do not meet the requirements for a FAFSA-EZ; and (2) produce, distribute, and process common forms in electronic format, including a simplified electronic application form on the Internet.

Directs the Secretary to make every effort to provide students with early information about potential financial aid eligibility, both through a widely disseminated printed form and the Internet or other electronic means.

Directs the Secretary to make special efforts to notify: (1) students who qualify for specified means-tested federal benefits of their potential eligibility for a maximum federal Pell Grant; and (2) middle school and secondary school students of the availability of student financial assistance.

Requires the Secretary to contract for or establish a toll-free telephone service to provide an application mechanism and timely and accurate information to the general public.

Revises requirements for determining the income contribution of dependent students, independent students without dependents other than spouse, and independent students with dependents other than spouse (generally increasing allowances).

Provides, for students with special circumstances, a simplified determination of independence and a tailoring of electronic applications.

Revises the purposes of the independent Advisory Committee on Student Financial Assistance to reflect this Act.