Today's News for
Friday, April 18, 2014
Great Lakes. Ready for end-of-semester aid
processing tasks? We can help! Check out our SmartSessions™
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designed to help you meet critical training needs throughout the
NEWS FROM NASFAA
A new white paper, released Tuesday by American Student Assistance (ASA), calls for better data on the number of students negatively impacted by student loan debt. The paper posits that in order to get more loans in repayment and out of delinquency and default, the federal government must start reporting student loan repayments in way that reflects how well borrowers are eliminating their debt, rather than just whether borrowers have gone into default within two or three years of entering repayment.
Nick Prewett, of the University of Missouri, and Tony Lubbers, from Friends University in Kansas, joined NASFAA’s policy team yesterday in visiting with staff members who work for Sens. Roberts and McCaskill and Reps. Takano and Davis to advocate for federal aid policies designed to benefit our nation’s neediest college students. The groups discussed Pell Grant proposals, consumer information disclosures, student loan indebtedness, and the benefits of using prior-prior year income when performing needs analysis. Learn more about the Advocacy Pipeline and explore ways you can get involved, too.
This task force, chaired by Wayne Harewood of Kingsborough Community College, will help identify and provide suggestions to the NASFAA Board of Directors on how the association can best meet the needs of our diverse membership. Expected tasks include submitting multiple conference sessions for NASFAA's National Conference and producing a report for the NASFAA Board of Directors that recommends a diversity policy. Members will serve June 2014 through January 2015 and will be required to attend one meeting at the conference and one meeting in the fall in Washington, D.C. Conference calls and emails will round out the extent of the work. Please view the task force charter and complete the volunteer form by April 30 if interested.
NASFAA's Student Aid Index, now available in beta form, compiles important financial aid topics into sections for each term, so you have the information you need in one convenient, mobile-friendly tool. Each high-level term is divided into standard sections, including related regulations, legislation, and synonyms. Navigate through terms on the left side of the tool, or use the search function to quickly locate a topic. Want to learn more about the Index? Visit www.nasfaa.org/index to view the 1.5 minute video and read testimonials from your colleagues.
Did you know... The Hermitage, home of Andrew Jackson, the 7th President of the United States, boasts a driveway in the shape of a guitar? Legend says that the driveway was so shaped to please his daughter-in-law, Emily. Nashvillians like to think it was a good sign of things to come. Highlights of a visit to The Hermitage include President Jackson’s mansion, spectacular gardens, and a museum filled with historical information. The Hermitage is located 20 minutes from downtown Nashville. Register now for the 2014 NASFAA National Conference. Early-bird registration ends May 30.
U.S. DEPARTMENT OF EDUCATION
Attached to this Electronic Announcement is the 2014-2015 FAFSA Verification-IRS Tax Return Transcript Matrix. The matrix will help financial aid administrators map 2013 IRS Tax Return Transcript information to FAFSA/ISIR data, as the IRS Transcript does not have line or item numbers and uses wording that may be different from what is used on the FAFSA.
The COD Processing Update provides information related to COD System processing and includes the following sections: COD News and Updates, Current Issues (with a subsection for All Programs, Direct Loans, and Grants), and Reminders.
"The Education Department, which has been roundly criticized by
historically black colleges over changes in the underwriting
criteria of its PLUS-loan program, is considering softening its
standards for awarding the loans," The Chronicle of HIgher
"Americans needing federally subsidized student loans for
undergraduate or graduate programs at colleges and universities
will pay a higher interest rate in the coming academic year,
according to new projections from the Congressional Budget Office
(CBO). And the cost of borrowing money to finance a college
education will continue to rise in the coming years as a result of
a bipartisan deal on Capitol Hill - despite President Barack
Obama's 2012 pledge to fight against raising the debt burden on
graduates," Al Jazeera America reports.
Blogs and Think Tanks
"The Federal Reserve Bank of Chicago is investigating Higher
One, the leading issuer of campus debit cards, and one of its
former bank partners for potentially engaging in unfair or
Credit.com's Blog reports.
"A new study from a Washington, D.C.-based higher education
association concludes that it's misplaced for the federal college
ratings plan, announced last year by President Barack Obama, to try
to enhance consumer access and institutional accountability through
one tool," U.S. News and World
Report's Morse Code reports.
"Washington has failed young Americans for too long. Millennials
struck out with Congress and the White House, winning nothing but
minor concessions as their financial and job fortunes continue to
stagnate. Now they're striking back," Brad Chase of Capitol Media
Partners writes in The Huffington Post's The
A select group of up to 25 Florida State University freshmen this fall will make up the first class of Presidential Scholars and benefit from exceptional support and experiences.
NASFAA CAREER CENTER