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today’s news for Wednesday, August 26, 2015

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Great Lakes. It’s about time. Time for a change… to save you time. From financial literacy tools with loan counseling and selection through streamlined loan application, certification, and disbursement, our one-stop shop makes private loan processing fast, easy, and effective for you and your students. Contact your representative or visit schools.mygreatlakes.org

NEWS FROM NASFAA

The deadline for reporting gainful employment (GE) data from 2008-09 through 2013-14 was July 31, 2015. Now that the initial flurry of reporting GE data under the new regulations is past, what are schools finding in the resultant records? And how can that help them for the next reporting deadline – October 1, 2015 for award year 2014-15 data – which is already looming?

Nearly one-third of students who took the ACT in 2015 are unprepared for college-level work and did not meet any of the four academic readiness benchmarks, ACT said in a report released Wednesday.

The mounting excitement of the NCAA Tournament is palpable this time of year. But even if your bracket was busted in round one, you still have the opportunity to have a winning team. NASFAA can bring an expert team of financial aid administrators to your campus to evaluate your operations and develop an action plan to make changes that will be a slam dunk at your school. Complete our information request form to learn more about NASFAA's peer review services.

NASFAA UPDATES AND ANNOUNCEMENTS

 NASFAA 2019 Conference Logo

We'll be heading to Orlando, FL next June for the 2019 NASFAA National Conference and we need your great ideas for engaging, relevant, and interesting conference sessions. All types of session proposals are welcome, from those focused on advocacy, training, and professional development, to sessions structured as open-forum discussions. All proposals must be received by Wednesday, October 24. Refer to our Presenters and Moderators page for more information.

U.S. DEPARTMENT OF EDUCATION

The Department announces the availability of Volume 2 – School Eligibility and Operations of the 2015-2016 Federal Student Aid Handbook.

The Federal Pell Grant (Pell Grant) regulations at 34 CFR 690.10 provide for an Administrative Cost Allowance (ACA) payment of $5.00 to each participating school for each student who receives a Pell Grant at that school for an award year. 

The Federal Pell Grant (Pell Grant) regulations at 34 CFR 690.10 provide for an Administrative Cost Allowance (ACA) payment of $5.00 to each participating school for each student who receives a Pell Grant at that school for an award year. 

On September 4, 2015, the Department will send the message class "MESSAGTB" via the Student Aid Internet Gateway (SAIG) to all user mailboxes. 

x - FEDERAL REGISTER

This notice sets forth the schedule and proposed agenda of a forthcoming open teleconference meeting of the Advisory Committee on Student Financial Assistance.

x - HEADLINES

National News

"The attorneys general of 11 different states are urging the Department of Education to discharge the federal student loan debts of students whose for-profit schools were shut down for violating various laws – especially victims of schools that operated as part of the now-defunct Corinthian Colleges chain," Consumer Affairs reports.

"It's back-to-school season, which means you'll probably confront the inevitable course syllabus requiring you to buy a Calculus or Psychology 101 textbook," according to Business Insider.

State News

"Community colleges across Tennessee are starting their academic year with many students who may have never thought they would attend an institution of higher learning, but who are taking advantage of the Tennessee Promise program, which offers them a free two-year college education," Inside Higher Ed reports.

Opinions

"Higher education is a crucial pathway to social and economic mobility at a time when income inequality has reached record levels. Yet many of the public universities that should be helping students move forward are instead holding them back by failing to enroll enough low-income undergraduates," Mamie Voight, director of policy research at the Institute for Higher Education Policy, and Colleen Campbell, senior policy analyst at the Association of Community College Trustees, write in an opinion piece for Washington Monthly.

"Ten months after graduation, only 60 percent of the law school class of 2014 had found full-time long-term jobs that required them to pass the bar exam," Steven J. Harper, author of The Lawyer Bubble: A Profession in Crisis, writes in an opinion piece for The New York Times.

Blogs & Think Tanks

"... An interesting alternative to federal student loans that has emerged in recent years has the potential to shift the financial risk of paying for college away from the federal government and students, instead placing the risk in the private sector," Robert Kelchen writes in The Brookings Institution's Brown Center Chalkboard.

"Federal regulators are considering suing Navient Corp., the nation's largest student loan company, for allegedly cheating borrowers, the company said Monday," according to The Huffington Post.

"Many economists have pointed out that simplicity or little nudges can go a long way in bettering people’s lives," according to The New York Times' The Upshot.

"A couple of weeks ago, the New York TimesEducation Life section published a series of articles dedicated solely to incoming college freshmen. ... These articles in the New York Times are filled with useful advice and insights (and probably well-matched to the publication’s readership), but their conceptualization of the typical college student is hardly representative of the contemporary degree-seeker," Jessie Brown writes for Ithaca S+R.

"New Jersey Gov. Chris Christie (R), who is running for president, said that he would like to see colleges unbundle tuition in an interview on Morning Joe on Monday," according to ThinkProgress.

x - MEMBER NEWS

The U.S. Department of Education is giving a $1.4 million TRiO Student Support Services grant to help 200 first-generation, low-income or disabled students attend the University of the Pacific.

x - INDUSTRY NEWS

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