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Ocelot. New research shows the breakdown between institutions and students rests with inaccessible information, inconsistent advice, and confusing systems. Get the full results, insights, and case studies on how institutions can scale the personal touch and bridge the engagement gap. Download the report.

While outstanding student loan debt—which totaled $1.48 trillion as of the second quarter of 2019—decreased by $8 billion from the previous quarter, transition rates into delinquency increased (from 9.4% to 9.9%), according to the Federal Reserve Bank of New York's latest report. What's more, student loans outpaced other forms of debt in the “severely derogatory” category of the report. As of March, student loans made up 35% of that category—which it defined as any kind of delinquent loan combined with a repossession, foreclosure, or charge off—and was followed by auto loans at 21%. While student loans’ share of the severely derogatory debt balance has remained consistent in the past, the bank’s researchers wrote it has “grown stunningly since 2012.” The report also noted that 10.8% of aggregate student debt was 90 or more days delinquent or in default in this quarter, a slight improvement from the last quarter (10.9%).

The Consumer Financial Protection Bureau (CFPB) appointed a former official from the Pennsylvania Higher Education Assistance Agency (PHEAA)—a federal student loan servicer—to oversee private student loans for the bureau. Robert G. Cameron is a colonel and staff judge advocate for the Pennsylvania Army National Guard, and has served in the U.S. Army for 29 years. Seth Frotman, who held the position until he resigned last year due to issues with the leadership and founded the Student Borrower Protection Center, called the announcement “an insult to the nation's 45 million borrowers who deserve an advocate in their corner.” At PHEAA, Cameron was responsible for litigation, compliance, and risk mitigation efforts.

According to IRS Form 1040 Instructions for 2018, a tax filer might not be required to file any of the new schedules. The following information is from the "Helpful Hints" at the beginning of the IRS Instructions [page 3]: "For 2018, you will no longer use Form 1040A or Form 1040EZ as you may have in the past. Instead, you will use the redesigned Form 1040, which now has six new numbered schedules in addition to the existing schedules such as Schedule A. Many people will only need to file Form 1040 and none of the new numbered schedules. However, if your return is more complicated (for example, you claim certain deductions or credits or owe additional taxes), you will need to complete one or more of the new numbered schedules." 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.

Trellis' Student Financial Wellness Survey (SFWS) seeks to document the financial well-being of postsecondary students and provide institutions with a detailed profile of the financial issues their students face, some of which could potentially impact their success in college. Join us for this webinar, Thursday, September 19, at 2:00 p.m. ET, when Trellis' Brian Ashton, Jeff Webster, and Kasey Klepfer share findings from the more than 17,500 student responses to the Fall 2018 survey. Student financial wellness topics covered include how students pay for college, attitudes on debt, basic needs security, student debt, academic goals, public assistance usage, and financial obligations to family. This webinar is free to members and non-members, but you must register in advance.

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