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today’s news for Tuesday, July 28, 2015

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NEWS FROM NASFAA

As previously shared in Today’s News, NASFAA, the Western Association of Student Financial Aid Administrators (WASFAA), the California Association of Student Financial Aid Administrators (CASFAA), and Beyond 12 began a partnership at the start of June 2015 to connect students displaced by the closure of Corinthian Colleges – and those who felt they were victims of fraud regardless of whether or not their campus closed – with volunteers who are knowledgeable about higher education, academic planning and financial aid.

As he begins his tenure as 2015-16 National Chair, Dan Mann took some time to discuss with Today’s News his goals for the next year and what inspires him as a financial aid professional.

Share Your Experience: How Does Your Office Reach Out To Students Ahead Of the New Semester?

Summer is winding down and students are preparing to return to campus, which means an uptick of work for the financial aid office as last-minute paperwork, questions, and processing are tackled. NASFAA is seeking comments for an upcoming Today's News article about the last-minute tasks students should be aware of before returning to campus, as well as how financial aid offices bring awareness their students. Share your procedures, tips, and tricks with [email protected].

In Case You Missed It: ED Has Taken Control of FAFSA.com Domain

U.S. Department of Education (ED) officials confirmed last week, during NASFAA's National Conference in New Orleans, that ED has taken control of the FAFSA.com domain. Once the transition is complete, FAFSA.com will redirect to the federally-operated FAFSA.ed.gov page. The Consumer Financial Protection Bureau last week also ordered Student Financial Aid Services – the company that operated the website – to refund $5.2 million to customers it says were illegally billed. The company, which provided fee-based assistance in filling out the FAFSA, billed customers for an annual subscription without their knowledge, the CFPB said.

NASFAA U

On May 4, 2016, the Department of Education (ED) issued the Revised 2016–2017 FAFSA Verification—IRS Tax Return Transcript Matrix. As a result, NASFAA has updated the 2016–17 Verification Self-Study Guide to reflect the correct 1040A and 1040EZ tax transcript line items used to verify 2015 taxes paid. If you have already purchased the 2016–17 version of the Self-Study Guide, individually, as part of your membership package, or as a NASFAA Authorized Event provider, we will be emailing an updated copy to you.

x - HEADLINES

National News

"Education Secretary Arne Duncan’s call on Monday for a greater focus on student outcomes at colleges was an effort to pivot away from discussions that he said are focused too narrowly on the burden of student loan debt – discussions administration officials feel are crowding out the debate over structural flaws in America’s higher education system," Inside Higher Ed reports.

"The federal panel charged with advising the U.S. Department of Education on accreditation is calling on policy makers to give it the final authority to decide which accrediting agencies deserve the federal government's recognition," Inside Higher Ed reports.

State News

"Nick Prewett didn’t know so many people were interested in the intricate workings of his profession. Actually, for most of his career, they weren’t. But ever since the NCAA’s Power 5 conferences voted in January to expand the definition of an athletic scholarship to a school’s full cost of attendance rather than the tuition, books and room and board it covered before, Missouri’s director of student financial aid has been a man in demand," the Columbia Daily Tribune reports.

Opinions

"Rising tuition costs may be a problem, but not for the housing market," Chris Matthews writes in Fortune. 

"Some debt is corrosive and should be paid off quickly. For other debt, it can actually be a winning proposition to pay it off slowly and invest the rest of your money. With student loans, it can sometimes feel daunting to determine with which liability you are dealing," David John Marotta writes for Forbes.

Blogs & Think Tanks

"Students are graduating with more debt than ever before: about $33,000 for the average four-year college graduate with loans in the class of 2014. Indiana University, though, found a simple way to get students to borrow less: telling them how much they already owe when they're taking out loans for the next academic year," according to Vox. "The professional organization for college financial aid officials, the National Association of Student Financial Aid Administrators, recommends that colleges should be allowed to set lower loan limits for some students, such as students attending less than full time."

"Much is riding on the outcome of a months-long Congressional debate over re-authorization of the Higher Education Act, the sweeping law that governs colleges and universities," Jamie Merisotis, CEO and President of the Lumina Foundation, writes in The Huffington Post's The Blog.

"If you have college or graduate school student loans, you may be wondering – what is the best student loan repayment plan for me?" Stephen Dash, CEO of Credible, writes in The Huffington Post's The Blog.

"A group of protesters, including students, teachers and members of advocacy group Higher Ed, Not Debt, chanted and waved signs outside of the Key Bridge Marriott in Rosslyn this morning," the Virginia-based ARL Now reports.

x - INDUSTRY NEWS

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