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today’s news for Wednesday, September 16, 2020

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NEWS FROM NASFAA

Alicia Keaton

Meet Alicia Keaton. Alicia has held various roles in financial aid for more than 25 years and currently serves as the director of financial aid at the University of Central Florida. "It's been seven years and I honestly can't imagine being anywhere else," she said. Alicia started in education as a substitute teacher in the Detroit Public Schools system shortly after graduating from college and before starting her career in financial aid at Wayne State University. Though she was hired as a financial aid officer, she worked her way up and was the associate director before leaving for the University of Florida to become a senior associate director. "Each institution has taught me something that has helped make me a better person, administrator, and leader," she said. "I would never be in this position had it not been for Wayne State and the University of Florida."

In hopes of returning to the chamber’s majority, House Minority Leader Kevin McCarthy (R-Calif.) released Republicans’ upcoming congressional agenda, which aims to promote career and technical education while also expanding GI education benefits should the GOP pick up enough seats to claim a majority for the 117th Congress. Under their outline released on Tuesday, Republicans specifically touted their “Renew the American Dream” platform as a means of  committing to higher education and workforce development, especially in light of the continued prevalence of the coronavirus pandemic.

The Consumer Financial Protection Bureau (CFPB)  agreed to settle a claim it made against PEAKS Trust 2009-1 for providing substantial assistance to ITT Educational Services, Inc. (ITT) and engaging in unfair acts and practices in violation of the Consumer Financial Protection Act of 2010. “If entered by the court, the proposed stipulated judgment would require PEAKS to stop collecting on all outstanding PEAKS loans, discharge all outstanding PEAKS loans, and ask all consumer reporting agencies to which PEAKS furnished information to delete information relating to PEAKS loans,” the court filing read. “The order would also require PEAKS to provide notice to all consumers with outstanding PEAKS loans that their debt has been discharged and is no longer owed and that PEAKS is seeking to have the relevant consumer reporting information deleted.” CFPB estimates that the total amount of loan forgiveness is currently $330 million, for about 35,000 consumers with outstanding balances owed on their PEAKS loans.

NASFAA UPDATES AND ANNOUNCEMENTS

NASFAA's Advocacy Pipeline program is an ongoing advocacy effort designed to bring NASFAA members to Washington, D.C. to share on-the-ground perspectives with policymakers. As Congress continues its work to reauthorize the Higher Education Act and address the COVID-19 emergency, it remains critical to keep our members and our policy issues and recommendations in front of the congressional members and staff that will be drafting and passing this important legislation. In light of the ongoing public health crisis and visitor restrictions in the U.S. Capitol, NASFAA will be holding virtual advocacy pipelines until it is safe to resume travel and in-person meetings. If you are interested in participating in an Advocacy Pipeline this fall or in the future, fill out an interest form.

CFAA Logo

Katie Conrad, senior associate director of financial aid at Florida International University, became certified through NASFAA's Certified Financial Aid Administrator® Program in February 2020. She encourages those considering certification to "commit to doing it now." While taking an exam that validates your professional knowledge is "a bit scary," Katie says the experience is worth it. "You will likely be surprised at how much you already know." Especially if you're looking to advance in your career or you already oversee a team, Katie says the certified designation "speaks to your commitment to professional growth and training. As we all know, in the world of financial aid, you can never stop learning." Start your path toward certification today by checking your eligibility using our free Interactive Tool.

NASFAA U

The NASFAA U Satisfactory Academic Progress online course is a four-week interactive online course which focuses on an overview of the required and optional elements of an institutional satisfactory academic progress (SAP) policy. The course begins September 22 and includes topics such as calculating pace, student appeals, the impact of transfer credits, and the use of academic plans. Live instruction, discussion topic collaboration, and assessments throughout the course will reinforce key concepts. Upon passing the course, you will receive complimentary access to the credential test. The course is filling quickly, so register now.

Webinar Logo

Financial concerns have been a longtime leading factor in students' decisions to enroll or continue their education. In today's challenging economic environment, monetary considerations are even more prevalent. As a result, higher education institutions need to prioritize awarding timely and accurate financial aid offers to incoming and returning students to drive enrollment decisions and student persistence rates. Using technology to enable data-driven strategies can help institutions achieve their enrollment and retention goals. Join in for a webinar on Thursday, October 15 at 1:00 p.m. ET to discover how innovative solutions can also empower students to understand their financial aid options and make the best decisions for their educational journey and long-term financial status. This 60-minute webinar, sponsored by Jenzabar, is free to NASFAA members, but you must register in advance.

x - FEDERAL REGISTER

The CARES Act provides that the Secretary may grant a deferment to recipients of Program loans, regardless of whether the recipient is a public or private HBCU, for the duration of the coronavirus-related emergency. The Department has developed an application for HBCUs to seek a deferment of a Program loan under the CARES Act. This application will allow a Program participant to request the deferment and submit information for the Department's required report to Congress regarding its use of its CARES Act authority to grant the deferments.

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