Today's News

Today's News for Monday, September 22, 2014 
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For years you've known us as the leader in providing access to higher education. Now, as NavientSM we are leveraging that experience and expertise to focus exclusively to help our clients, and the people we serve, stay on the path to financial success.


Report: Black Graduates Borrow At Higher Levels Than White Graduates

Black college students continue to borrow at higher levels to pay for higher education than white students and are less likely to thrive financially after graduation, according to data from the inaugural Gallup-Purdue Index.

Do Teachers Need A New Repayment Program?

Teachers with master's degrees carry higher debt, on average, than MBA graduates, and the current menu of underused federal financial incentives doesn't do much to knock off that burden, according to a new report.

AskRegs Knowledgebase Answers: Can a Dependent Student Borrow an Additional Direct Unsubsidized Loan If the Parent Has Been Approved for One PLUS and Denied Another?

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. Congress is on recess this week and the Department of Education will release the latest cohort default rates today. Be sure to read Today's News daily for additional coverage of some of these events. 



9-19: 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.


National News

Student Debt Burdens Seniors

"It's important for colleges, universities, financial aid administrators to be thinking about ways that they can experiment in getting information to [students] that will be effective in helping them manage their loan debt as they leave school," NASFAA President Justin Draeger said in an interview for CNBC's Nightly Business Report.

Team Effort Needed For Collecting Loan Default Data

"Institutions that are successful in preventing loan defaults make it a campuswide effort, according to a recent survey by the Association of Community College Trustees (ACCT) and The Institute for College Access & Success (TICAS)," University Business reports.

Following In A Sibling's Footsteps

"The college enrollment decisions of older siblings could be an important cue to whether and where their younger siblings attend college, according to a new study by researchers from Harvard University and the College Board," Inside Higher Ed reports.

Fake Financial Aid Offers Target College Students; Problem Solvers Show How To Avoid Grant Scams

"A woman contacted 2NEWS Problems Solvers about a supposed grant she was offered from the U.S. Federal Reserve," 2NEWS  reports.

State News

Virginia: Former VCU Student And Mother Plead Guilty To Student Aid Fraud

"A mother and daughter entered guilty pleas on Thursday, charged with student aid fraud," CBS 6  reports.


Opinion: Why Poor Students Struggle

"The effort to increase the number of low-income students who graduate from four-year colleges, especially elite colleges, has recently been front-page news. But when I think about my students, and my own story, I wonder whether the barriers, seen and unseen, have changed at all," Vicki Madden, an instructional coach for the New York City Department of Education, writes in a New York Times opinion piece.

Commentary: Why Tracking Students Post-Grad Can Help Improve Education And The Economy

"States have long had a problem amassing accurate data on students as they move away with families, to pursue higher education or take a new job. But a multi-state pilot project from the the Western Interstate Commission for Higher Education (WICHE), a regional organization comprised of 15 states and the Commonwealth of Northern Mariana Islands, has revealed a way for more states to collaborate on student outcomes," according to NationSwell.

Blogs and Think Tanks

What You Need To Know About Monday's Student-Loan Default Rates

"The U.S. Department of Education is scheduled to release today its annual cohort default rates, which describe what percentage of college graduates are defaulting on their student loans," The Chronicle of Higher Education's The Ticker reports.

Why Federal College Ratings Won't Rein In Tuition

"College costs have been rising for decades. Slowing - or even better, reversing - that trend would get more people into college and help reduce student debt," The New York TimesThe Upshot reports.

Education Dept. Imposes Financial Restrictions On ITT

"The U.S. Education Department has placed financial restrictions on ITT Educational Services Inc., citing the company's failure to submit financial statements by a mandatory deadline," The Chronicle of Higher Education's The Ticker reports.



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