Today's News for
Friday, October 31, 2014
|The College Board: Since helping to
shape the field in 1954, the College Board and its member partners
have collaborated to provide leadership, expertise, and a suite of
reliable, consistent, and user-designed financial aid solutions
including PowerFAIDS®, the Institutional Methodology, CSS/Financial
Aid PROFILE®, and others. Visit us at collegeboard.org.
NEWS FROM NASFAA
As widely reported in the press, the Department of Education has
released a final rule on gainful employment programs. ED will only
judge programs on their graduates' debt-to-earnings ratios, which
must be less than or equal to 8 percent of income and 20 percent of
discretionary income to pass. Programs that post income and
discretionary income percentages between 8 and 12 or 20 and 30,
respectively, will be considered in a warning zone, and programs
with percentages higher than 12 and 30, respectively, will fail. Keep reading for more details, and check back in with Today's News Monday
for a summary of the final rule.
Did you miss our most-read original article this week? Catch up now on the alleged illegal actions one or more student loan servicers engaged in between March and June 2014. Actions ranged from not providing accurate tax deduction information to borrowers to making illegal debt collection calls, according to a new report from the Consumer Financial Protection Bureau (CFPB). After you read the article, join the conversation in the comments section.
Participating in the NASFAA election process is an important way to contribute to your association. NASFAA holds elections each year to select members to serve on its Board of Directors, which provides oversight and guidance for the direction of the association. There are four positions available: National Chair-Elect (1 position) and Representative-at-Large (3 positions). Details about each position are on the website. The NASFAA Board of Directors has a strong commitment to diversity and encourages nominations from underrepresented groups and institutions. The nomination deadline is Monday, Nov. 3. Nominate yourself or a colleague today.
“As a practitioner, it’s always really helpful to hear what’s going on on the Hill, and then how that translates to our day-to-day duties,” a financial aid administrator told us at last year’s Leadership Conference. Get a firsthand look at federal policy – and how you can shape it – in the nation’s capital March 1-3, 2015 at the NASFAA Leadership & Legislative Conference & Expo. Register today!
NASFAA’s 2015 Conference Program Task Force is requesting interest session proposals for the 2015 NASFAA National Conference, set for July 19 - 22, 2014 in New Orleans, LA. The Task Force recognizes that an outline or detailed description may not be available at this early date. Sessions may be submitted without the detailed description and may be selected conditionally if space permits. Check out the guidelines for submitting a proposal and use the online submission form to submit your session by COB today.
U.S. DEPARTMENT OF EDUCATION
The Department's federal offices as well as some of our Title IV processors and contact centers will be closed on Tuesday, November 11, 2014 to observe the Veterans Day federal holiday.
In preparation for the 2015–2016 Renewal Reminder distribution, the Department is reminding all schools to update 2014-2015 Student Aid Report (SAR) and Institutional Student Information Record (ISIR) transactions for their students with a current e-mail address by January 12, 2015.
"In an interview with Marketplace's Kai
Ryssdal, Secretary of Education Arne Duncan said new rules
targeting vocational college programs that leave students with too
much debt and too few job prospects were designed with 'outcomes,
not inputs' in mind," Marketplace reports.
"Since 1985, U.S. college costs have surged by about 500
percent, and tuition fees keep rising. In Germany, they've done the
opposite," The Washington Post reports.
"Even if new graduates are lucky enough to find a job after
graduation, most won't last more than a year," Main
"Battles over funding and college costs are being fought in
races for governor across the country," Inside Higher
"About half of the students attending community college under
Tennessee Promise next fall will get their tuition paid by the
federal government, according to state
estimates," Nashville Public Radio reports.
"Bloomberg Philanthropies announced this week a new effort to
help talented low- and middle-income students enroll in and
graduate from top-tier colleges and universities. While every
intervention is welcome, this one assumes that a major problem is
getting these students to apply to these institutions," Catharine
Hill writes for The Chronicle of Higher
Blogs and Think Tanks
"Ask a millennial why so many twentysomethings live with their
parents, and he'll probably let out an exasperated sigh and then
patiently explain that we're a whole generation loaded down with
student debt and navigating an economy that's been cruddy for
years. It's hard to make your rent when you're jobless and paying
off a bachelor's
degree," Slate's MoneyBox reports.
NASFAA CAREER CENTER