Today's News

Today's News for Monday, March 30, 2015 
Brought to you by 

For over 20 years, ELM Resources has provided open and lender-neutral choice. As a trusted, not-for-profit name in the student loan industry, over 1,600 implemented schools use ELM's Web-based solutions, including ELMNet, ELM NDN and ELMSelect for private loan processing and disbursements. For more information, visit


Congress Establishes FY16 Road Map

On Friday the Senate capped a marathon session of amendment votes by voting 52-46 to pass a budget resolution that proposes to cut $124 billion from student aid programs over the next 10 years. This followed action taken earlier in the week by the House to pass their own budget resolution that likewise took aim at spending on student aid, trimming it by $150 billion over the same 10-year period.

AskRegs Knowledgebase Answers: Should the Portion of a Savings Account Balance Consisting of a Student Aid Refund Be Reported As an Asset?

Learn the answer to this question and learn how to instantly find credible and reliable solutions to your most pressing regulatory and compliance questions with NASFAA's AskRegs Knowledgebase. The Knowledgebase guide and video tutorials highlight the many features of this tool.


NASFAA is here to help you stay up to date on the top policy events occurring throughout the week in Washington, D.C. and, when applicable, across the country. Make sure to check back in to Today's News each morning for coverage of some of the events, and email us at if you're aware of upcoming policy events that could be of interest to the financial aid community.


  • The House and Senate are in session the week of March 30.





3-27: 2015-2016 Federal Work-Study Program Community Service Waiver Requests

Section 443(b)(2)(A) of the Higher Education Act of 1965, as amended (HEA) and the implementing regulations at 34 CFR 675.18(g) set forth the community service expenditure requirements under the Federal Work-Study (FWS) Program that a school must meet unless it is granted a waiver from the Secretary. The following information explains how a school requests a waiver of the community service expenditure requirements under the FWS Program for the 2015-2016 Award Year.

3-27: COD Processing Update

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.


Notice: National Advisory Committee on Institutional Quality and Integrity Meeting

This notice sets forth the agenda for the June 25-26, 2015 meeting of the National Advisory Committee on Institutional Quality and Integrity (NACIQI), and provides information to members of the public on submitting written comments and on requesting to make oral comments at the meeting.


National News

U.S. To Identify Colleges Under Scrutiny

"The U.S. Department of Education plans to name the colleges whose access to federal money it has restricted because of concerns about the risk they pose to students and taxpayers. And most of the institutions placed on those financial sanctions in recent years have been for-profit colleges, newly disclosed federal records show," Inside Higher Ed reports.

Professional Salaries Up 2.2%

"Professional positions in higher education administration saw an overall median base salary increase of 2.2 percent in 2014, according to a report issued today by the College and University Professional Association of Human Resources," Inside Higher Ed reports.

Little Progress On Incentive Comp

"The U.S. Education Department's Federal Student Aid office has done too little to carry out regulatory changes adopted five years ago to crack down on colleges' use of incentive compensation to reward employees, the department's inspector general said in a highly critical audit this week," Inside Higher Ed reports.

Mix And Match

"The student strike in Quebec in 2012 did not just bring down the province's government; it also revealed deep cultural differences in ideas about university funding. French Canadian students, influenced by European thinking, were outraged that their government had proposed raising tuition fees from C$2,168 ($2,168) a year to C$3,793; the rest of Canada, used-American-style-to much higher fees, was baffled by their fury," The Economist reports.

State News

At U-Va., A Price Hike For Some Will Fund A Price Cut For Others

"For Virginians in financial need, leaders of the state's flagship university just approved what amounts to a cut of up to $10,000 in the price of a bachelor's degree," The Washington Post reports.


Opinion: The Dangers Of Tuition Discounting

"The announcement of Sweet Briar College's closing has sent shock waves throughout independent higher education, with some viewing this as the tip of the iceberg and expecting more closings to follow," James L. Doti, president of Chapman University, writes in an opinion piece for The Chronicle of Higher Education.

Blogs and Think Tanks

Dropouts, Grads, And Terrible Counting

"Ashley Smith's IHE story Thursday got few comments and drew little notice, but it should have made national headlines. It gives the lie to a great many tales being told about community colleges," according to Inside Higher Ed's Confessions of a Community College Dean.

Financial Aid Award Letters: Eschew Obfuscation

"For years, a good friend of mine had the words 'eschew obfuscation' posted on his office door. ... I am reminded of his phrase at this time of year, as I read financial award letters from various institutions when families send them into my office for comparison's sake," W. Kent Barnds, executive vice president of Augustana College, writes in The Huffington Post's The Blog.

Largest For-Profit University In U.S. Loses Hundreds Of Thousands Of Students

"The University of Phoenix, the largest for-profit university in the United States, has lost a few hundred thousand students in the last five years, according to its parent company," The Washington Post's Answer Sheet reports.

When We Say 'Consumer,' We Mean 'You.' Here Are 5 Protections You Should Know About

"People tend to tune out when they hear the phrase 'consumer protection,' and that's probably because we don't really think about ourselves as 'consumers.' But we do think about ourselves as a 'mom,' or 'dad,' or 'student borrower,' or 'employee,'" according to The White House Blog.


TASFAA Offers Clyde Walker Professional Development Scholarship

To encourage new members to pursue professional development opportunities and to enhance success within the financial aid profession, TASFAA is proud to offer the Clyde Walker Professional Development Scholarship.




Subscribe RSS

This RSS feed is provided to allow private individuals to view headlines and text excerpts from NASFAA within newsreaders or RSS-enabled web browsers for personal, non-commercial use. The ability to access and read certain complete articles may be restricted to NASFAA members. Approved NASFAA-affiliated state and regional financial aid associations may additionally distribute our RSS feeds and incorporate headlines (which may include text excerpts) from NASFAA into their official website, blog, or other digital publication for the benefit of their members as long as no fee is charged. We may disable, change, or discontinue these feeds at any time. If you wish to make any other use of our RSS feeds, please contact us for permission.