Today's News

Today's News for Wednesday, August 20, 2014 
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Great Lakes. Ready for fall aid processing tasks? We can help! Check out our SmartSessions™ schedule at for training on how to respond to September's draft cohort default rates, create sound policy and procedure manuals, and process the timely return of Title IV funds. All of our webinars are designed to help you meet critical training needs throughout the year.


The Policy Brief: A Look at the Reauthorization of the Higher Education Act

In this debut video of The Policy Brief, an occasional video series designed to give members a quick glimpse into what NASFAA's policy team is working on, Managing Director of Policy & Federal Relations Megan McClean and Assistant Director of Federal Relations Jesse O'Connell explain what the reauthorization of the Higher Education Act is and discuss how members can get involved with NASFAA's advocacy efforts. Watch the video now and visit our Reauthorization Web Center and the Advocacy section of our website for more information.

FICO Score Changes Not Likely To Impact Private Student Loan Borrowers

Changes to the FICO credit score calculations have the potential to increase the scores of some consumers, including private student loan borrowers. The new score is designed to be "more predictive" of the likelihood of debt repayment than previous iterations of the score.

Earn Your Campus-Based Programs Credential

Be one of the first to earn a Campus-Based Programs Credential from NASFAA University! For the first time ever NASFAA U will offer an online course on the campus-based programs. The course and credential test will focus on options for using funds, including transferring funds between programs and carry forward/carry back provisions, awarding criteria for FSEOG, the community service requirements for Federal Work-Study, and the disclosure and counseling requirements, as well as repayment features, for the Federal Perkins Loan. Class starts Tuesday, September 16 and spots are limited, so register today to secure your place.

Join NASFAA's Social Media Channels To Engage With Your Colleagues All Over The Country

How do you prefer to connect with your peers online? Perhaps you love browsing Facebook, getting the latest tweets from other financial aid professionals, viewing videos, or joining discussions with your colleagues on LinkedIn. No matter your preferred social media channel, NASFAA has a way to engage with your national association and peers across the country. Get access to photos, news, updates from NASFAA, and more! Like us on Facebook, follow us on Twitter, connect with us on LinkedIn, and subscribe to our YouTube channel.


8-19: Labor Day Federal Holiday Processing and Customer Service Hours

The Department of Education's federal offices as well as its Title IV processors and contact centers will be closed on Monday, September 1, 2014 to observe the Labor Day federal holiday.

ANN-14-20: Training Workshops - Fundamentals of Federal Student Aid Administration

This letter announces Federal Student Aid’s instructor-led, Fundamentals of Federal Student Aid Administration training workshops scheduled for October 2014 through September 2015.


National News

Best Path For Transfer Credit

"Students are most likely to be successful in transferring academic credits when they have higher grade-point averages and move between community colleges and four-year institutions, according to a new federal study released Wednesday," Inside Higher Ed reports.

Parents Spend More Time Talking About Money With Boys Than Girls

"Girls are trailing boys in markers of financial fluency at young ages - at least according to a survey from Baltimore-based investment manager T. Rowe Price Group Inc," the Baltimore Business Journal reports.

James Jeffords, Who Shifted Balance Of Power In Senate, Dies At 80

"Jim Jeffords, the former Vermont senator who single-handedly tipped the balance of power in the Senate in 2001 when he left the Republican Party, has died. He was 80 years old," the Wall Street Journal reports. Jeffords served as chairman of the Senate Health, Education, Labor and Pensions Committee.

Seeking New Start, Finding Steep Cost

"Millions of unemployed Americans ... have trained for new careers as part of the Workforce Investment Act, a $3.1 billion federal program that, in an unusual act of bipartisanship, was reauthorized by Congress last month with little public discussion about its effectiveness. ... [M]any have not found the promised new career," The New York Times reports.

State News

Oregon's Tuition-Free 'Pay It Forward' College Finance Plan Appears Dead

"Oregon's attention-getting proposal to offer students tuition-free college if they agree to repay a small portion of their earnings for years afterward got the official thumbs down from Oregon's higher education board this week," The Oregonian reports.

New University of Central Florida Policy Could Delay Financial Aid To Students

"The University of Central Florida has instituted a policy that could prevent students from receiving financial aid on time. A new policy states that a student must complete one assignment during the first week of classes in order to receive their financial aid disbursement," Florida Today reports.

Blogs and Think Tanks

Under Obama, Private Debt Troubles Ebb-Except Among Students

"Much has improved in American creditworthiness since the darkest days of the recession. … There's one big exception: Student borrowers, who are by far the fastest growing segment of troubled debtors," The Wall Street Journal's Washington Wire reports.

A Case Of Mistaken Identity: The New York Times Mixes Up Higher Education And Workforce Development

"Federally-funded job training programs have a reputation problem in the United States, often serving as scapegoats for the very problems they are trying to alleviate - unemployment, skill gaps, and economic insecurity, to name a few. But they've never been held responsible for students taking on large amounts of debt to finance their education," EdCentral reports.


"In journalism, 'burying the lede' refers to putting the most interesting part of a story so deep within it that casual readers may miss it. ... The New York Times did something similar ... in a story on WIA, or the Workforce Investment Act," according to Inside Higher Ed's Confessions of a Community College Dean blog.

Affirmative Action And The Crisis In Higher Education

"These are difficult times for higher education in America. At all but the nation's top colleges and universities, enrollments are down and budgets are strapped," Scott D. Gerber writes for The Huffington Post's The Blog.


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