Today's News for
Friday, October 24, 2014
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NEWS FROM NASFAA
NASFAA policy staff provide an in-depth look at final
rules published yesterday by the Department of Education that modify the definition of "adverse credit history" in the PLUS
Loan program and require loan counseling for PLUS borrowers with
adverse credit who have extenuating circumstances or who have an
The Department of Education is expanding the Pay As You Earn
Program, but some say it's not enough.
While financial aid can play a role in a student's success,
other behavioral factors can play a significant a role in
enrollment and completion, ideas42 said in a webinar on Thursday.
The webinar highlighted ongoing work the group is doing to address
the low national completion rate by examining enrollment and
retention at two schools - LaGuardia Community College in New York
and San Francisco State University.
The NASFAA Leadership & Legislative Conference & Expo has been expanded to serve even more current and future financial aid leaders than it has in the past—and registration just opened! The conference will now offer two pathways: one for new and aspiring aid directors who want to grow their management skills, and another for rising volunteers – or those who want to volunteer one day – at the state, regional, or national level. Check out what the co-chairs had to say about the upcoming Conference & Expo, and join us March 1-3, 2015 in Washington, D.C. for what’s sure to be a great event!
U.S. DEPARTMENT OF EDUCATION
On August 8, 2014, the Secretary published a Notice of Proposed Rulemaking (NPRM) (79 FR 46640) in the Federal Register to strengthen and improve the administration of the PLUS Loan Program.
During the period of November 19-24, 2014, the Department of Education (the Department) will perform extended system maintenance to its core financial systems, including G5. Please review the following information to determine how processing at your school will be affected.
"The fall-out from the financial crisis is still being felt in
the lending industry, where tight loan standards and empty borrower
pockets have led to some necessary innovation in recent
years," MainStreet reports.
"When Gov. Bill Haslam announced the creation of the Tennessee
Promise scholarship program, the state anticipated 20,000 students
might apply," The Tennessean reports.
"In a surprising and somewhat embarrassing situation,
administrators of California's new Middle Class Scholarship program
last month awarded only about half the $107 million available,"
the Los Angeles Times reports.
Blogs and Think Tanks
"A new Pew Research Center study shows that from 2010 to 2012,
the percentage of middle- and upper-middle-income students who
borrowed money for college doubled, and they're borrowing twice as
much money as their peers did a generation ago," Take
Part reports. "'The bottom line is more and more people
are borrowing in all income brackets,' [NASFAA's Megan] McClean
"More than 60 percent of college graduates borrow to pay for
their four-year degrees, and on average, the debt totals more than
$29,000 by the time graduation day rolls around," the New America
Foundation's Ed Central reports.
"[R]ather than simply bring back the [Ability to Benefit]
program as it previously existed, lawmakers should limit the
program to schools that have a proven track record of serving their
students well to prevent the type of abuses that have hounded it in
the past," the New America Foundation's EdCentral reports.
NASFAA CAREER CENTER