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TODAY'S NEWS

today’s news for Thursday, September 20, 2018

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Inceptia's SAP Advisor is a fully automated online solution that provides students, faculty and the financial aid staff with the tools to effectively manage Satisfactory Academic Progress appeals quickly and seamlessly. SAP Advisor increases efficiency and empowers students to actively engage which improves the opportunity for successful outcomes. Visit Inceptia.org to learn more.

NEWS FROM NASFAA

Lawmakers and higher education experts looking to hold institutions accountable for student outcomes and ensure taxpayer dollars in the form of financial aid are being spent responsibly often question whether some colleges and universities may actually harm students, rather than arming them with the knowledge and skills they need to succeed after completing their programs.

NASFAA UPDATES AND ANNOUNCEMENTS

FSA Addressing COD System Processing Issue

Federal Student Aid said this week it is working to resolve a COD system issue related to intermittent outages on StudentLoans.gov, which impacted processing on Monday. According to FSA, the issue is not yet resolved and institutions may still see delays in processing. For further assistance, FSA is encouraging institutions to contact the COD School Relations Center at 1-800-848-0978, or [email protected].

AskRegs

Under the Title IV regulations, schools are not required to send award letters. However, under 34 CFR 668.165(a)(1), "Before an institution disburses title IV, HEA program funds for any award year, the institution must notify a student of the amount of funds that the student or his or her parent can expect to receive under each title IV, HEA program, and how and when those funds will be disbursed. If those funds include Direct Loan program funds, the notice must indicate which funds are from subsidized loans, which are from unsubsidized loans, and which are from PLUS loans.” View the full answer to this question to learn more and search for answers to your other pressing regulatory and compliance questions, in NASFAA's AskRegs Knowledgebase.

NASFAA U

Brush up or train new staff before your next evaluation period. NASFAA U's Satisfactory Academic Progress Online Course is offered in a collaborative learning environment. NASFAA U faculty and a practicing financial aid administrator lead this engaging course. Learning topics include the required and optional elements of an institutional policy, calculating pace, student appeals, the impact of transfer credits, and more. Complimentary access to the credential test is provided after successfully completing the course. This popular four-week course begins Oct. 16, 2018 and will fill up fast. Register now.

U.S. DEPARTMENT OF EDUCATION

Federal Student Aid released two new reports that provide snapshots of the number of applications and resulting loan discharges processed as a result of borrower defense to repayment and the Public Service Loan Forgiveness Program, as of June 30, 2018. The new reports were posted to the FSA Data Center along with a series of updates to the quarterly application, disbursement, and portfolio reports that include data through June 30, 2018.

x - FEDERAL REGISTER

The U.S. Department of Education continues to require the collection of this information from borrowers who believe they have cause to invoke the borrower defense to loan repayment forgiveness of a student loan. There is no change to statutory or regulatory requirements. This collection continues to be necessary to ensure Heald, Everest and/or WyoTech College borrowers who wish to invoke the borrower defense against repayment of federal student loans can do so in a uniform and informed manner.

x - NOTABLE HEADLINES

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