Today's News

Today's News for Monday, April 27, 2015 
 
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NEWS FROM NASFAA

NASFAA Submits Comments On Senate White Papers Regarding Consumer Info, Risk-Sharing

On Friday, NASFAA submitted comments to Sen. Lamar Alexander on the March 23 consumer information and risk sharing white papers released by the Senate Health, Education, Labor and Pensions Committee. These white papers, and responses from the higher education community to them, will inform the upcoming reauthorization of the Higher Education Act.

ED To Begin Notifying College Presidents Of Noncompliance With 150 Percent Reporting

NASFAA has learned that the Department of Education (ED) could begin sending notifications to Chief Executive Officers (e.g., president, chancellor, owner) of institutions not in compliance with 150 percent reporting requirements as early as this week. Notifications will be sent to schools that have not sent any enrollment reports to NSLDS or have not included enrollment reporting at the program level. Schools have been required to report enrollment, including program-level student enrollment information, to NSLDS in one of the new formats since responding to the first enrollment reporting roster generated on or after October 1, 2014. More information about these requirements is available in Dear Colleague Letters GEN-14-07, GEN-14-17, and in the Electronic Announcement titled “Reminder of Program-Level Reporting Requirement” posted to the IFAP Web site on September 26, 2014.

Your Thoughts: Doing More With Less

NASFAA's 2015 Administrative Burden Survey found 47 percent of respondents believed that their financial aid office has, over the past five years, faced a “moderate” to "severe” resource shortage. Based on this response, NASFAA is interested in better understanding how financial aid offices are grappling with this challenge and what creative solutions or approaches have been implemented to combat resource shortages. Respond to our online survey and share the innovative ways your office is making due on constrained budgets!

AskRegs Knowledgebase Answers: What Information Must Schools Report to COD for Direct Loan Originations and Adjustments Due to the 150% Limitation?

AskRegsTNLearn 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.

Beware: Illegitimate Housing Company Offering to Book NASFAA Conference Housing

NOLA TNNASFAA has received multiple reports of people getting unsolicited calls from companies claiming to work with NASFAA and offering to help you reserve a hotel room for the 2015 and 2016 NASFAA National Conferences. NASFAA’s housing company, Orchid Event Solutions, will never call you to reserve your room. We are investigating how these companies are obtaining contact information, as we have not distributed any registration lists. If you have reserved a room via one of these phone calls, please cancel that reservation and secure housing through our contracted and secure provider. Information on how to reserve a room for the 2015 NASFAA National Conference can be found on our website. Housing for the 2016 NASFAA National Conference is not open.

THE D.C. DOCKET

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 news@nasfaa.org if you're aware of upcoming policy events that could be of interest to the financial aid community.

Congress:

  • The House and Senate are in session the week of April 27.

Tuesday:

Wednesday:

Thursday:

U.S. DEPARTMENT OF EDUCATION

4-24: 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.

HEADLINES

National News

How To Appeal College Financial Aid Offers

"By now, most prospective college students have received their letters of acceptance and are weighing their financial aid packages. But what if the financial aid offer at your preferred school isn't what you had hoped?" The New York Times asks. "'The time to appeal is if something has changed after the form was filed,' said Justin Draeger, president of the National Association of Student Financial Aid Administrators."

Navigating The Thickets Of Student Loan Counseling

"As a former student loan borrower himself, President Obama has more than a passing familiarity with the complexities of higher education finance. But in a little-noticed bit of comment last year in an interview with David Karp, the founder of Tumblr, he issued some pointed criticism of the advice that students get on the way into college," according to The New York Times. A recent analysis conducted by TG and NASFAA "focused on the entrance counseling calculators, which tell new students to enter the amount they plan to borrow, the interest rates and what they think they'll earn once they graduate. ... A 2014 study in the Journal of Student Financial Aid showed just how little students at Iowa State University knew about their debt."

Knock-On Effects Of PLUS Loan Changes At Historically Black Colleges

"April is almost over. But one issue that grabbed headlines during National Financial Literacy Month is the recently released Department of Education (DOE) report on the tightened credit standards for the PLUS Loan," USBE Online reports. "Writing in a 2013 opinion piece for Inside Higher Ed, National Association of Student Financial Aid Administrators (NASFAA) president said although much more can be done to protect consumers from getting too deeply into debt, federal PLUS loans can be risky business for graduate students and parents of undergraduates who can use them to borrow up to the full cost of attendance at college."

Corinthian To Close Its Last Schools; 10,000 Students In State Displaced

"After years of government investigations, Corinthian Colleges Inc. will shut down more than two dozen of its remaining schools, displacing more than 10,000 California students," The Los Angeles Times reports.

State News

Illinois: Lawmaker Wants To Change License-Loan Law

"If you don't pay your student loans, you could find yourself without a job. But, that law could change," WCIA reports.

3 Ways Louisiana Might Increase The Cost Of Higher Education For Students

"How can Louisiana resolve its $1.6 billion budget shortfall and drive more money into higher education? Well, one way is to ask students to pay more for college and graduate school," The Times-Picayune reports.

Opinions

Opinion: Federal Solutions To Our Student Loan Problem

"My dad grew up in a country that was generous and farsighted enough to see that the more its people learned, the more its people earned," Martin O'Malley, former Democratic governor of Maryland, writes in an opinion piece for The Washington Post.

Blogs and Think Tanks

To Get More Students Through College, Give Them Fewer Choices

"How many different flavors of jam do you need to be happy? In 2000, a famous experiment showed that when people were presented with a supermarket sampler of 24 exotic fruit flavors, they were more attracted to the display. But, when the sample included only six flavors, they were 10 times more likely to actually buy," according to NPR's Ed.

College For The Masses

"Growing up in Miami in the 1990s, Carlos Escanilla was a lot more interested in hanging out with friends and playing music than in school," according to The New York TimesThe Upshot.

A High US News Ranking Doesn't Mean A College Is Actually Good

"College rankings measure prestige, success after graduation, and whatever else the group publishing them has decided matters in higher education. But a new study finds they're not great at measuring something that should matter a lot: how engaged students are in the classroom," Vox reports.

STATE AND REGIONAL NEWS

Spring Conference 'Urban KASFAA' Was A Success!

"The conference planning committee would like to thank everyone who took part in the spring conference in Old Town Wichita," according to a blog post from the Kansas Association of Student Financial Aid Administrators. "On Friday, Megan McClean from NASFAA offered us an overview of the current climate for the federal student aid programs in Washington and NASFAA’s efforts to advocate for us."

INDUSTRY NEWS

NASFAA UNIVERSITY

NASFAA CAREER CENTER

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