Today's News for
Wednesday, May 06, 2015
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NEWS FROM NASFAA
With the start of summer comes the beginning of many tasks
within the financial aid office, including the annual Direct Loan
reconciliation. Every office handles this process differently, and
we'd like to know: what are the best practices used in your office?
Share your thoughts in the comments section and take a look at what
your colleagues suggest!
In anticipation of its switch from the Federal Student Aid PIN to the FSA ID on May 10, the Department of Education has released a one-page guide for students, parents, and borrowers. The guide walks users through a six-step process to create an FSA ID, which they will need to sign in to certain ED websites. In an Electronic Announcement Monday, ED recommended sharing the guide with your audiences after the May 10 implementation date, when users can create an ID.
As detailed in the Federal Student Aid Handbook, for Federal Direct loans "a school must use either a Scheduled Academic Year (SAY) or a Borrower Based Academic Year (BBAY) to determine when a student is eligible for a new annual loan limit." While SAYs normally begin and end at the same time each year, BBAYs change with the student’s enrollment. If your school uses a SAY to process Direct Loans, take this poll to tell us more about your use of the optional BBAY for the summer term and see how your colleagues responded. Want more polls? Peruse past Poll the Pros columns for other questions and results.
As you plan ahead to make the most of your time at the conference, please note we have new, earlier hours for the exhibit hall where the continental breakfast will be served on Monday and Tuesday mornings starting at 8:00 am. If you haven’t checked it out yet, see the full schedule of activities, posted on the conference website under the Learn tab. Using the Search Schedule link, you can search for sessions by typing keywords, a presenter's name, or the title. Looking for a favorite speaker? Search the alphabetical Speaker List. The conference is again packed with "must attend" sessions. Register now!
CORE is a comprehensive set of instructional materials for teaching financial aid fundamentals to individuals with less than two years experience. CORE’s 14 modules cover financial aid administration from A to Z and its flexible design allows you to use it for teaching small or large groups. If you have never tried CORE, purchase and download one module at a time to see if it meets your staff training needs. If you are a Value or Value Plus member, CORE is included in your membership package, so there is no additional cost for you to download it.
U.S. DEPARTMENT OF EDUCATION
Subpart D of the Federal Perkins Loan Program regulations sets forth the conditions for service-based cancellation of borrowers’ Federal Perkins Loans.
"The unprecedented collapse and now bankruptcy of Corinthian
Colleges has left in its wake a large political battle over student
debt relief," according to Inside Higher Ed.
"Corinthian Colleges on Tuesday formally asked the U.S.
Department of Education to reconsider its nearly $30 million fine
of the defunct for-profit college chain, which officials accused of
misrepresenting job placement rates," Inside Higher
"The Obama administration is set to achieve one of its top
domestic policy goals after years of
wrangling," ProPublica reports.
"'Before I came on the board,' says Lee D. Ardell, a trustee at
Austin College, 'I thought, It can't be that hard.' She soon
realized her mistake," according to The Chronicle of
"Many career technical education programs show 'substantial,
positive earnings effects,' but a more granular look at the
programs - and the characteristics and motives of students who
enroll in them - is needed in order to determine which programs
yield the best results," Diverse: Issues in Higher
"Kaplan University will now offer personalized 'competency
reports' to its 45,000 students," Inside Higher
"Universities that want to hike tuition would have to meet a
series of accountability benchmarks under a bill approved by the
Senate Thursday, April 30," the Cleveland
"Illinois' attorney general has filed lawsuits against five
companies and is accusing them of scamming people who need to repay
student loan debt," The Associated Press reports.
"The University of Illinois at Urbana-Champaign plans to start a
low-cost online M.B.A. program in partnership with Coursera, the
Silicon Valley-based MOOC provider, hoping to meet its land-grant
mission of improving access and also to create a new stream of
revenue at a time of shrinking state support for higher
education," The Chronicle of Higher
"The Board of Regents may be boosting tuition by 9 percent this
year at the state's major universities while the overall economy's
inflation rate is essentially zero, but the University System of
Georgia is trying to find less expensive textbooks," The
Florida Times-Union reports.
Blogs and Think Tanks
"Tomorrow Senator Alexander will be holding an HEA
reauthorization hearing on The Role of Consumer Information in
College Choice. ... One issue that is bound to come up is one near
and dear to Senator Alexander's heart-reducing institutional
reporting burden," according to EdCentral.
NASFAA CAREER CENTER