today’s news for Thursday, May 14, 2015

NEWS FROM NASFAA

Based on the outcome of yesterday's auction of the 10-yr Treasury note, NASFAA projects that interest rates on student loans for the 2015-16 academic year will be 4.29 percent for Federal Direct Stafford Loan (Subsidized and Unsubsidized) for undergraduate students, 5.84 percent for Federal Direct Unsubsidized Stafford Loan for graduate or professional students, and 6.84 percent for Federal Direct PLUS Loan for parents and graduate or professional students. These rates should not be considered official until the Department of Education makes an announcement in the coming days or weeks on IFAP.

Not able to keep up with the recent Today’s News coverage of negotiations on the proposed new income-driven repayment plan, REPAYE? In chart form, NASFAA has summarized the terms and provisions of the REPAYE plan and compared it to the other income-driven repayment plans. As a reminder, the proposed regulations applicable to the new REPAYE plan will appear in the Notice of Proposed Rulemaking expected in July, which will be open for public comment. To catch up on the negotiations on REPAYE, see NASFAA’s negotiating rulemaking page.

NASFAA President Justin Draeger, National Chair Eileen O'Leary, and Ethics Commission Chair Mary Sommers reviewed the organization's Code of Conduct, Statement of Ethical Principles, and enforcement procedures that will take effect July 1, 2015 in a webinar Wednesday. Catch up on the highlights and check back soon to view the entire presentation in the Webinar Archive.

Three NASFAA member institutions have deployed particularly promising tactics to help their homeless students succeed in college, according to a new report from the National Center for Homeless Education (NCHE). Financial support is a common theme among all three.

For financial aid offices around the country, summer sessions can bring a whole new set of challenges and complications. This webinar will provide an overview of some of the basic concepts related to awarding and disbursing Title IV aid for summer. The topics discussed will include: important issues to consider first when awarding summer aid, selecting summer program formats, selecting the award year EFC, prorating summer EFCs, calculating summer COAs, and determining enrollment status. The webinar is offered at no additional cost to NASFAA members, but pre-registration must be completed by Monday, June 8 at 3:00 pm ET.

To date, there have been 1,042 NASFAA Professional Credentials earned by 547 people across 12 subjects. View our Credentials Honor Roll to see our growing list of Credential earners, and learn how to receive your Professional Credentials. Once you’ve earned yours, you can add it to your resume in NASFAA's Career Center and narrow down your job search to positions that are looking for applicants with NASFAA Credentials.

U.S. DEPARTMENT OF EDUCATION

The Department of Education's federal offices as well as its Title IV processors and contact centers will be closed on Monday, May 25, 2015 to observe the Memorial Day federal holiday.

FEDERAL REGISTER

In accordance with the Paperwork Reduction Act of 1995 (44 U.S.C. chapter 3501 et seq.), ED is proposing a new information collection.

In accordance with the Paperwork Reduction Act of 1995 (44 U.S.C. chapter 3501 et seq.), ED is proposing a revision of an existing information collection.

HEADLINES

National News

"The nation's top consumer watchdog is stepping up its oversight of student-loan servicers, the agency announced on Thursday," The Chronicle of Higher Education  reports. "...In February the National Association of Student Financial Aid Administrators issued a report recommending ways to improve the sector."

"The interests of former students of defunct Corinthian Colleges Inc. who could potentially have billions of dollars in claims against the for-profit educator are getting an official voice in company's bankruptcy case, a win for students seeking a greater sway in the case's outcome," The Wall Street Journal reports.

"College enrollment numbers tend to be cyclical. A poor economy forces many adult learners into the classroom to retrain or hone their skills, but when it improves, enrollments decrease as they return to the workforce," Inside Higher Ed reports.

"Since the recession, tuition has skyrocketed at public universities across the country, but schools in some states raised their costs more than others," CNNMoney reports.

"The record high American graduation rate masks large gaps among low-income students and those with disabilities compared to their peers. There are also wide disparities among states in how well they are tackling the issue," according to The Associated Press.

State News

"A small for-profit college with campuses in Charlotte and Greensboro said Wednesday that it is shutting down," The Charlotte Observer reports.

"Starting in the 2015-2016 school year, Salt Lake City, Utah-based Knod will offer a bachelor's degree in general business or business management and leadership for under $13,000, in partnership with New Charter University," EdSurge reports.

Blogs and Think Tanks

"'I don't think you'd notice if the whole department was gone tomorrow,' Rand Paul said of the U.S. Department of Education at a University of Chicago Institute of Politics panel last year. ... But what would happen if indeed, there was no Department of Education?" ThinkProgress asks.

STATE AND REGIONAL NEWS

”This spring I had the opportunity to take a NASFAA University course in Direct Loans. The 8-week course covered an in-depth study of regulations in the specific topic. The NASFAA University online courses vary in length depending on the amount of material to cover. This course was structured with assigned reading material each week, a few short videos to introduce the material, an online get-together that you could join live or watch later, required discussion questions, one group project, two independent projects, and a weekly quiz,” Melissa Haberman writes for the MASFAA Moments blog, offering her advice to others considering a course.

NASFAA UNIVERSITY

• Complimentary Training Video - Overview of the Financial Aid Programs  
• New Verification Self-Study Guide Now Available  
• Professional Credentials Do Matter - NASFAA U Testimonials  

NASFAA CAREER CENTER

• Accounts Receivable/Financial Aid Support Specialist (Senior Staff Assistant), SUNY Oneonta, Oneonta, New York  
• Principal Data Analyst, University of California, Davis, Davis, California  
• Assistant Vice President & Chief of Staff, Division of Enrollment Management, University of Oregon, Eugene, Oregon