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Campus Ivy. Pairing world-class technology and people, Campus Ivy helps schools: boost efficiency, ensure compliance & reduce costs. In addition to a complete student/mobile-friendly financial-aid platform, our expert FA staff can assist or provide full outsourcing of verification processing. Contact us today to discover how we can help you at campusivy.com.

The Treasury Department and the Internal Revenue Service (IRS) issued new guidance Wednesday exempting students from having to pay taxes on forgiven loans as a result of a federal closed school discharge or approved borrower defense to repayment claim. The tax relief also applies to certain private student loans discharged due to settlements involving “unlawful business practices against nonprofit or for-profit schools or private lenders that made student loans to finance attendance at these schools.” The new guidance covers student loans forgiven on or after Jan. 1, 2016 and notes that “taxpayers to whom this revenue procedure applies may claim a credit or refund for an overpayment of tax for taxable years for which the period of limitations… has not expired.”

NASFAA is seeking feedback regarding potential changes to the Federal Work-Study (FWS) program. The College Affordability Act, the House Democratic bill to reauthorize the Higher Education Act (HEA), eliminates the requirement that 7% of FWS funds be spent on community service jobs. Importantly, the bill does not prohibit students from earning their FWS funds through community service jobs, nor would it rescind any of the school's FWS funding; it would simply remove the 7% spending requirement. NASFAA is trying to get a general idea of the impact on community service FWS jobs if the requirement were to be eliminated. If interested, please fill out this brief survey by 5:00 p.m. ET on Tuesday, January 21.

Haven't yet signed up for the 2020 Leadership & Legislative Conference & Expo? It's not too late to secure your spot. Limited seats are still available in the Strategic Enrollment Management and Advanced Topics in Financial Aid Leadership pathways. Don't miss this opportunity to grow professionally, expand your network, and become a leader on campus, in your association, or in your profession. Review the pathway session descriptions and register today.

If you attended our November 2019, special extended edition Verification webinar, but just can't get enough verification information, never fear! Join us for our Verification 2020-21: Follow-Up Webinar, Wednesday, Jan. 22, 2020, at 2:00 p.m. ET when Joe Massman, NASFAA regulatory specialist, will spend time following up on some of the unanswered questions from the previous webinar and providing clarification on some of the most commonly misunderstood topics. Register now.

As a reminder, draft cohort default rates (CDRs) will be coming out in February and schools will have a fixed timeline to make any adjustments to anything they see in their draft rates. All Incorrect Data Challenges (IDC) must be made through the eCDR Appeals application. The eCDR Appeals is a web-based application that allows schools to electronically submit certain challenge and adjustment requests during the specified timeframes. For more information on CDRs and default management, refer to NASFAA's Student Aid Index.

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