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This week on "Off The Cuff," Megan, Stephen, and Allie talk about the potential of an upcoming vote on the Senate floor on the Faster Access to Federal Student Aid (FAFSA) Act, and discuss how members can reach out to their representatives in the House to push the bill forward there as well. Allie details a report released from the Consumer Financial Protection Bureau (CFPB) regarding banks charging students high fees for college-sponsored debit cards, and the team discusses the release of a new tool for Public Service Loan Forgiveness (PSLF) applicants. The team also talks about the Department of Education’s (ED) plan to revisit cases of students’ TEACH Grants being converted into loans and its official announcement that it will delay the recall of Perkins Loans. Plus, the group continues the conversation on the use of smartphones in college and delves into comments from members. Barring any breaking news, this is the last episode of 2018—we wish you a happy holiday and be sure to check back in 2019! 

The Department of Education (ED) announced yesterday in a notice in the Federal Register that it would automatically forgive the student loan debt of 15,000 borrowers who qualified for closed school loan discharges yet did not apply for forgiveness—an amount totaling $150 million. About half of these borrowers attended Corinthian Colleges schools, ED wrote. In the announcement, ED said that it will begin to notify borrowers about their discharges via email today, though students will receive official notices from loan holders. This news comes one month after a California advocacy group sued Education Secretary Betsy DeVos for not applying this Obama-era policy.

Last summer, higher education researchers Kristin Blagg from the Urban Institute and Jason Delisle from the American Enterprise Institute (AEI) each released a report examining student loan defaults. While Blagg focused on new indicators of the likelihood that a borrower will enter into loan default, Delisle examined what borrowers do after they default on their loans. At an event hosted by the Urban Institute Thursday, the experts shared with a room full of congressional staffers what policymakers can do to reduce default rates based on their findings.

In 2018, NASFAA and its members across the country made great strides in influencing important policy decisions regarding college access, affordability, simplification, and transparency. NASFAA engaged in numerous advocacy, grant-funded, and public policy undertakings to support its mission of promoting programs that remove financial barriers and ensure student access to postsecondary education. Read on for a comprehensive list of actions NASFAA and its members took in 2018.

Wondering what the difference is between a retroactive payment and a late disbursement? What about how to verify rollovers of IRA, pension, and annuity distributions? Take a look back at last month's most viewed AskRegs Q&As. If you have a question that's not on the list, you can find a credible and reliable answer in the AskRegs Knowledgebase by browsing or searching the answers provided by our Training and Regulatory Assistance staff. If you can't find the answer, you may submit your question by clicking the "Ask a New Question" button.

The Nominations and Elections Committee is pleased to announce the 2019-20 slate for National Chair-Elect and Representatives-at-Large to the NASFAA Board of Directors. In mid-January, voting representatives (primary contacts) at NASFAA member institutions will receive, via email, a ballot to cast their vote by Jan. 31, 2019. Learn more about the candidates by reading through each person's statement of candidacy and resume. Winners will be announced in February, and will officially take office in July 2019. Thanks to all who nominated candidates and/or agreed to run for NASFAA office.

Every year, NASFAA recognizes outstanding members and other higher education stakeholders for their achievements and contributions to financial aid, students, and/or NASFAA. Award winners will be announced in June at the 2019 NASFAA National Conference in Orlando, FL. Nominations are due Feb. 15, 2019. Submit your nominations online today.

The Department of Education will begin to apply an automatic discharge of some or all of the Direct Loan, FFEL, or Perkins Loan program loans an eligible borrower (or, if applicable, the dependent child on whose behalf a parent took out a PLUS loan) obtained to attend a school that closed on or after Nov. 1, 2013.

This is a request for an extension of the approved information collection used by Federal Student Aid (FSA) to ensure that all data collected and managed by Guaranty Agencies (GAs) in support federal student financial aid programs is secure.

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