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Today's News for Friday, October 24, 2014 
 
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NEWS FROM NASFAA

NASFAA Summary: PLUS Final Rules Change Credit Requirements, Require Loan Counseling for Certain Borrowers

NASFAA policy staff provide an in-depth look at final rules published yesterday by the Department of Education that modify the definition of "adverse credit history" in the PLUS Loan program and require loan counseling for PLUS borrowers with adverse credit who have extenuating circumstances or who have an endorser.

New Petition Pushes For Universal PAYE

The Department of Education is expanding the Pay As You Earn Program, but some say it's not enough.

Behavioral Science Group Examines Enrollment, Retention At Two Colleges

While financial aid can play a role in a student's success, other behavioral factors can play a significant a role in enrollment and completion, ideas42 said in a webinar on Thursday. The webinar highlighted ongoing work the group is doing to address the low national completion rate by examining enrollment and retention at two schools - LaGuardia Community College in New York and San Francisco State University.

Two Reasons To Attend This Year’s Leadership & Legislative Conference & Expo

The NASFAA Leadership & Legislative Conference & Expo has been expanded to serve even more current and future financial aid leaders than it has in the past—and registration just opened! The conference will now offer two pathways: one for new and aspiring aid directors who want to grow their management skills, and another for rising volunteers – or those who want to volunteer one day – at the state, regional, or national level. Check out what the co-chairs had to say about the upcoming Conference & Expo, and join us March 1-3, 2015 in Washington, D.C. for what’s sure to be a great event!

U.S. DEPARTMENT OF EDUCATION

10-23: Final Regulations Strengthening and Improving the William D. Ford Federal Direct PLUS Loan (PLUS Loan) Program

On August 8, 2014, the Secretary published a Notice of Proposed Rulemaking (NPRM) (79 FR 46640) in the Federal Register to strengthen and improve the administration of the PLUS Loan Program.

10-23: OUTAGE ALERT- G5 Web Site Outage November 19-24, 2014, Impact to Federal Student Aid Processing and on Funds Availability for Title IV Programs

During the period of November 19-24, 2014, the Department of Education (the Department) will perform extended system maintenance to its core financial systems, including G5. Please review the following information to determine how processing at your school will be affected.

HEADLINES

National News

Is This The Best Way To Re-Pay Student Loans? Low Interest Rates Aren't Everything

"The fall-out from the financial crisis is still being felt in the lending industry, where tight loan standards and empty borrower pockets have led to some necessary innovation in recent years," MainStreet reports.

State News

Tennessee: Students Jump At Chance For Free College Tuition

"When Gov. Bill Haslam announced the creation of the Tennessee Promise scholarship program, the state anticipated 20,000 students might apply," The Tennessean reports.

California Middle Class Scholarship Grants Are Still Available

"In a surprising and somewhat embarrassing situation, administrators of California's new Middle Class Scholarship program last month awarded only about half the $107 million available," the Los Angeles Times reports.

Blogs and Think Tanks

Cosign Of The Times: The Rich Are Borrowing To Pay For College Too

"A new Pew Research Center study shows that from 2010 to 2012, the percentage of middle- and upper-middle-income students who borrowed money for college doubled, and they're borrowing twice as much money as their peers did a generation ago," Take Part reports. "'The bottom line is more and more people are borrowing in all income brackets,' [NASFAA's Megan] McClean states."

Student Loan Defaulters Aren't Who You Think They Are

"More than 60 percent of college graduates borrow to pay for their four-year degrees, and on average, the debt totals more than $29,000 by the time graduation day rolls around," the New America Foundation's Ed Central reports.

Restore Ability To Benefit Program With Limits To Prevent Abuses

"[R]ather than simply bring back the [Ability to Benefit] program as it previously existed, lawmakers should limit the program to schools that have a proven track record of serving their students well to prevent the type of abuses that have hounded it in the past," the New America Foundation's EdCentral reports.

INDUSTRY NEWS

NASFAA UNIVERSITY

NASFAA CAREER CENTER

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