Today's News for
Wednesday, April 01, 2015
Since 2004, the month of April has been recognized as National
Financial Literacy Month in an effort to highlight the importance
of overall financial wellness. Great Lakes is
committed to providing training and
resources that you can share with your students so they know
how to make sound financial choices.
NEWS FROM NASFAA
Despite negotiators' opposition to another repayment plan, ED
has moved forward with draft regulations for REPAYE, an option for
struggling Direct Loan student borrowers, regardless of when they
received their Direct Loans.
Customer service scores for federal loan servicers continued to be high for the first two quarters of fiscal year (FY) 2015, while the percentage of borrowers in repayment increased among several servicers, according to recent data from the Department of Education (ED).
"That President Obama has elevated student aid as needing a bill of rights is indicative of the role aid plays in promoting education as well as democracy," Editor Jacob P. K. Gross writes in the brand-new issue of the Journal of Student Financial Aid. With articles that explore the nature of the relationship between institutions and the federal government, and bring to light the multifaceted roles that financial aid administrators play, this Journal issue is not to be missed! For full articles, Gross’ column, and a book review of “Privatization and the Public Good: Public Universities in the Balance,” explore Volume 45, Issue 1 of the Journal.
NASFAA will hold pre-conference caucus meetings for community colleges, proprietary institutions, four-year publics, and independent colleges at the NASFAA National Conference on Sunday, July 19, from 10:30 am - 11:45 am. On Monday, July 20, the Graduate & Professional Initiatives Committee (GPIC) will hold its sector networking breakfast from 8:00 am - 8:45 am. To attend any of these events, you must be registered for the conference, as full registrant or as a daily registrant for Sunday or Monday. To RSVP, complete this quick online form by 5:00 pm ET, Friday, June 19. NASFAA policy staff and representatives from other associations will facilitate the discussions and collect feedback.
The goal of the National Conference Program Task Force is to ensure that quality educational sessions are offered at the 2016 NASFAA National Conference. The sessions must reach the various interests and sectors of NASFAA's diverse membership. Members will serve July 2015 through March 2016 and will be asked to attend two in-person meetings – one in New Orleans during the 2015 NASFAA National Conference and one in Washington, D.C. in the fall. Calls and emails will round out the extent of the work. Please view the task force charter and complete the volunteer form by April 24 if interested.
"'Risk sharing' - the idea that colleges should bear some of the
cost when their students default on federal loans - is catching on
in Congress," The Chronicle of Higher
Education reports. NASFAA President Justin Draeger "said
there's an easier way to shift more of the risk of student lending
onto colleges: extend and expand the Perkins Loan program."
"A big red box of paperwork that activists delivered to federal
officials here on Tuesday may hold the key to debt relief for large
numbers of students who attended Corinthian
Colleges," Inside Higher Ed reports.
"Public flagship universities appear to have become less
affordable over the past five years to the very people they were
created to serve - the residents of their home
states," The Chronicle of Higher
"Remember those 15 people who refused to repay their federal
student loans? Their 'debt strike' has picked up 85 more
disgruntled borrowers willing to jeopardize their financial future
to pressure the government into forgiving their student
loans," The Washington Post reports.
"In his new book, 'The End of College: Creating the Future of
Learning and the University of Everywhere,' Kevin Carey lays out a
dystopian future for American higher education as we know it,"
Donald E. Heller, dean of the College of Education at Michigan
State University, writes in an opinion piece for The
Chronicle of Higher Education.
"Although Harvard is widely known as one of America's oldest and
most prestigious colleges, that public image is outdated. ... An
admissions process is flawed when a four-year total price tag
approaching $250,000 probably deters many students from even
applying," Ron Unz writes in an opinion piece for The New
Blogs and Think Tanks
"Suppose you accept the persuasive data that inequality has been
rising in the United States and most advanced nations in recent
decades. But suppose you don't want to fight inequality through
politically polarizing steps like higher taxes on the wealthy or a
more generous social welfare system," The New York
Times' The Upshot reports.
"Over the last few weeks, there have been many news reports
about private collection agencies (PCAs) who recover defaulted
student loan debt on behalf of the U.S. Department of Education,"
James Bergeron, president of the National Council of Higher
Education Resources (NCHER), writes in The
Hill's Congress Blog.
"Higher education is central to achieving individual economic
success and to supporting the national economy. ... For the
thousands of undocumented young people who graduate from American
high schools each year, the path to a college degree or a
postsecondary credential is overshadowed by the complex state,
federal, and institutional policies that determine available
education options," according to the Center for American
"The world is focused on improving their top universities in
order to be more competitive in the global knowledge economy and to
raise their numbers in the higher education
rankings," Inside Higher Ed's World
"Despite the fact that congressional leaders recently expressed
concern regarding rising income inequality in the United States,
some members of Congress continue to promote policies that would
advance this economic trend," according to the Center for American
"This year has been a fantastic year for Science Leadership
Academy college acceptances. We've seen our kids get into some of
the most well respected schools in record numbers - and many of our
kids are the first SLA-ers to ever get accepted into these schools.
Whether or not they are able to go to is another question," Chris
Lehmann, the founding principal of the Science Leadership Academy,
writes in The Washington Post's Answer
NASFAA CAREER CENTER