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As states and cities across the country implement measures to slow the spread of the novel coronavirus, lawmakers on Capitol Hill are scrambling to come to a compromise on their latest stimulus package to alleviate some financial burden being placed on businesses and individuals, including colleges and universities, students, and those with student loan debt.

While efforts from the federal government and lawmakers to support student loan borrowers during the COVID-19 outbreak have focused on federally-held loans, some student advocacy groups are pushing for relief for private student loan borrowers, and a handful of private education loan lenders are offering to delay borrowers’ payments.

Despite political leanings or affiliations, the higher education community agrees that there needs to be an improvement in accountability to meet the needs of students and taxpayers. The real challenge comes in when the community struggles to define or agree on what exactly accountability means. This week, NASFAA's Perspectives op-ed series returns with a thought-provoking op-ed article from Nicholas Hillman designed to stimulate discussion on this issue. Once you've read the article, express your views in the comments area.

Yes. According to guidance NASFAA has received from the U.S. Department of Education (ED), if the institution decides to apply some type of credit or voucher toward next year's institutional charges, the amount of that credit/voucher would be considered estimated financial assistance (EFA) when packaging the student with Title IV aid for next year. The decision on whether to give students refunds or adjustments to institutional charges (room, board, tuition, fees, etc.) is entirely up to each institution and beyond ED's purview. 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.

If you were unable to join us for the March 19 webinar, Enrollment Management for Financial Aid Administrators, you can still tune in for the on-demand webinar. You'll have full access to the webinar archive and handout. If you attended the live event, you can still use your registration link to access the on-demand event and FAQ document. Order today.

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