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After a series of long negotiations that spanned through the weekend and into early this week, the Senate passed the third COVID-19 relief package early Thursday morning by a vote of 96-0. The bill, dubbed the Coronavirus Aid, Relief, and Economic Security (CARES) Act, represents a compromise between Senate Republicans and Democrats, both of whom have introduced COVID-19 legislation in recent weeks that address student aid. 

The Department of Education (ED) officially announced Wednesday it has stopped requests to withhold the wages, tax refunds, and Social Security benefits of borrowers who are in default on their federal student loans for at least the next 60 days as a means of relief during the novel coronavirus outbreak, and has directed private collection agencies to stop pursuing defaulted borrowers.

College and university emergency funds — a relatively new concept in the world of higher education — have taken on added significance as thousands of displaced students continue to grapple with the fallout from the novel coronavirus outbreak.

It is NASFAA's understanding that this will not impact a student's Title IV aid as long as the classes continue to count toward the student's degree completion requirements. 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.

Join us Thursday, April 2 at 2:00 p.m. ET for this special follow-up webinar as NASFAA President Justin Draeger and NASFAA staff from the AskRegs and policy teams review some of the most common questions related to Title IV aid and COVID-19. Time will be provided for an open Q&A during this 75-minute webinar. This webinar is free to members and non-members, but you must register in advance.

Mark your calendar! NASFAA is hosting a new webinar on April 30 to discuss the Certified Financial Aid Administrator® Program knowledge exam. Hear straight talk from two panelists who have gone through the process and earned the designation. Daniel Barkowitz and Christina Tangalakis will share why they pursued certification, what the testing experience was like, how they prepared for the exam, and how they believe the designation will benefit them in the future. Register online for this free, 60-minute webinar.

NASFAA's annual Business Meeting this year will be conducted virtually at 4:00 p.m. ET on May 19, 2020 as part of the Policy Update Webinar. NASFAA's Bylaws dictate that the association must meet annually for the purpose of transacting all business which may be brought before the membership. The meeting will include reports on NASFAA's financial status, governance and oversight, and diversity efforts.

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