Thursday, August 28, 2008
HEADLINES
Students Win And Lose Under Private Loan Provisions
The Higher Education Opportunity Act (HEOA) includes several provisions that will affect how students, schools, and lenders work with private student loans. Title X of the HEOA, dubbed "The Private Student Loan Transparency and Improvement Act of 2008," makes changes to the Truth in Lending Act and the Higher Education Act. This article summarizes the private student loan certification process outlined in the law.
ED Corrects Email Address For FAFSA Comments
The Department of Education has informed NASFAA that the correct email address for submitting comments on the draft 2009-10 FAFSA is FAFSA.comments@ed.gov. ED will be correcting its IFAP notice. Please submit a copy of your comments to NASFAA at FAFSAComments@nasfaa.org.
The American Council On Education Releases Summary Of New HEA
The American Council on Education (ACE) has compiled a 10-page summary and analysis of the new Higher Education Act (P.L. 110-315) which President Bush signed into law on Aug. 14. The ACE summary highlights selected key new provisions and is not comprehensive. The summary focuses on programs and provisions with broad application to all aspects of higher education. It intentionally excludes programs and provisions that have a narrower or more targeted reach. The summary is available online in PDF format.
U.S. DEPARTMENT OF EDUCATION
2008-09 ISIR Analysis Tool Web Demonstration Site
Federal Student Aid is pleased to announce the addition of 2008-09 ISIR Analysis Tool functionality to the Central Processing System (CPS) Web Demonstration (demo) site, located at http://fafsademo.test.ed.gov. This demo site, which automatically preloads with 500 test ISIR records, enables schools interested in using the ISIR Analysis Tool to examine features such as standard and ad-hoc report generation in a mock-production environment.
FINANCIAL AID IN THE NEWS
NATIONAL NEWS
College Board Reports Most Diverse Class Of SAT Test-takers On Record (Diverse Issues in Higher Education)
"This year's class was the most diverse class on record with historic increases in the number of Hispanic, Black and Asian American students taking the test," Diverse Issues in Higher Education reports. "Minority students accounted for 40 percent of test-takers, and 36 percent were the first in their families to attend college. Nearly one in seven low-income students was eligible to take the test for free."
S.F. Lender To Students Is Clearing Out (The San Francisco Chronicle)
"Education Finance Partners, one of the companies at the center of New York Attorney General Andrew Cuomo's investigation into student-lending practices last year, has abruptly ceased making loans and is clearing out of its San Francisco headquarters," The San Francisco Chronicle reports. "The timing was especially bad in this case."
Helping Future Millionaires Become Financially Literate (The Greentree Gazette)
"When it comes to student loan debt, there are some students to worry about more than others," The Greentree Gazette reports. "Future teachers, public defenders and social workers ... [But] there is another group of students who should be on the radar: medical students. Conversations with several confused and concerned medical students on campus convinced Candi Frazier that her office should do more than exit interviews to help WVU students."
States Capitalize On The Energy Boom To Expand Training And Research (The Chronicle of Higher Education)
"Throughout the eight states of the Mountain West, college officials have reported receiving greater attention and more money from their lawmakers," The Chronicle of Higher Education reports. "Even states that cut back on appropriations for higher education this year trimmed less than they had during past economic downturns."
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