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today’s news for Thursday, September 19, 2019

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TRENDING IN FINAID NEWS

NEWS FROM NASFAA

NASFAA this week sent a letter to Reps. Bobby Scott (D-VA) and Virginia Foxx (R-NC), the chairman and ranking member of the House Committee on Education and Labor, detailing the implementation challenges for the Public Service Loan Forgiveness (PSLF) program, and how those challenges can be addressed moving forward. The Subcommittee on Higher Education and Workforce Investment is set to examine issues that have surfaced through the implementation of the program during a hearing on Thursday. NASFAA has repeatedly raised concerns with the program implementation, starting in 2014, and in its letter urged lawmakers to consider making changes to course correct, such as making both PSLF applications and Employment Certification Forms available for online completion, streamlining the Temporary Expanded PSLF (TEPSLF) application process, and resolving discrepancies in inaccurate counts of qualified payments, among other things. Read the full letter and check Today's News tomorrow for a full recap of the hearing.

Rep. Lucy McBath (D-GA) on Tuesday introduced a bill, endorsed by NASFAA, to simplify the FAFSA by assigning different questions to students based on their family’s income level. The bill, dubbed the HOPE  (Heightening Opportunities for Pathways to Education) for FAFSA Act, would direct students down one of three pathways as they applied for federal financial aid, a proposal similar to that of a 2015 NASFAA working group. 

As lawmakers and presidential contenders continue to debate the issues of college affordability and student loan debt, a report released Thursday shows the growth in student loan debt may be slowing.

NASFAA UPDATES AND ANNOUNCEMENTS

NASFAA U

This popular course quickly sold out last year. Learn why one participant from last year's Return of Title IV Funds NASFAA U Course shared, "I think it was eye-opening to have clarity on topics and to question our own policies and procedures. We will be making updates based on this course!" Be confident in your administration of return of Title IV funds regulations. Lessons open beginning October 1. Ensure your participation in the class by registering now.

If you are your institution or organization's primary or secondary NASFAA contact, or a key contact, take a moment to read through our quick Frequently Asked Questions of the features to help keep your roster up to date. It is important to keep your staff roster updated so former staff do not appear in the online Membership Directory and new staff receive member benefits. If you are a new primary contact at your institution/organization, please contact Membership Services by email or at (202) 785-0453 Ext. 1 so we may review your membership status and benefits with you.

When completing verification, financial aid administrators must separate income and taxes paid for the parent or student who has become divorced, separated, or widowed since filing a joint tax return, and before filing the FAFSA. While the U.S. Department of Education (ED) provides guidance on how to do this, ED does not provide a worksheet or form to assist schools. Many of our members have inquired what their colleagues use for this purpose. Please consider submitting your calculation worksheet or form by Thursday, Oct. 3, 2019, so we may add it to our Member-Generated Content Library to give your colleagues an idea of what information to request and how to separate joint tax returns at their own schools. We will remove any identifying information about your institution before publishing it in the content library.

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