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today’s news for Thursday, September 10, 2015

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NEWS FROM NASFAA

With the Perkins Loan Program set to expire at the end of the month, higher education advocates joined two members of Congress Wednesday to urge legislators to extend the program. Among the advocates was NASFAA President Justin Draeger, who explained that financial aid administrators have serious concerns about the Perkins program being pulled apart in a piecemeal fashion without addressing the funding gap it would create for future students in a larger reauthorization bill.

With the introduction of four new pieces of legislation on Tuesday, Congress has now introduced more than 100 pieces of legislation relating to student financial aid in the eight months since the start of the 114th Congress in January.

This week, Mr. Ethics reviews how to talk with students about allowable expenses and the importance of providing resources that demonstrate how to be good stewards of federal funds. Are you working through a common ethical question and want some help? Email Mr. Ethics at [email protected] with your inquiry. We will make sure your identity remains anonymous if your question is chosen to run in Today's News. Check out prior Ask Mr. Ethics columns for answers to other tricky questions.

Find out how other schools help students re-establish Title IV eligibility during NASFAA’s Satisfactory Academic Progress Appeals webinar, September 30, 2:00-3:30 pm ET. School panelists will share how their schools manage the appeal process and develop academic plans to best help students achieve their academic goals. The webinar is offered at a cost of $120 for members and $240 for non-members. There is no additional cost for webinar package purchasers, however advanced registration is still required. Register today to save your spot.

x - HEADLINES

National News

"When Mitchell Generette filed the FAFSA as part of his application to the University of Baltimore, he thought he had completed it successfully. Now a 24-year-old rising sophomore at UB, Generette had previously been a student at St. Mary’s College, but left after two years without attaining a degree," according to Black Enterprise. "Many are now calling for greater simplification [of the FAFSA], including Senators Lamar Alexander and Cory Booker, the National Association of Student Financial Aid Administrators, and the Bill & Melinda Gates Foundation (full disclosure: BE Smart, a Black Enterprise education initiative, is a Gates grantee)."

"The White House is stepping up the effort to make tuition free at community colleges across the country," Inside Higher Ed reports.

"... Higher education is a fascinating, complex business. Its pricing dynamics ripple throughout the rest of our economy, in effect determining who will thrive and who will fail. What’s more, the product of this particular industry is not just an end in itself," according to The New York Times Magazine.

"CommonBond, a student loan startup which says it hasn’t had a single default in two years, today announced a $35 million investment from some big names who believe students who go into debt so they can get a job doing what they love deserve some special treatment," the New York Business Journal reports.

"The day after Labor Day marks the beginning of a new year for many college students. Unfortunately, more than seventy percent of these students will be stuck with thousands of dollars in student loan debt upon their graduation," WEAU reports.

State News

"Elbert Dogan is leaving for college on Wednesday morning. Just 24 hours earlier, that was not the case. The 2015 graduate of Clyde C. Miller Career Academy realized shortly before he was to start at Tennessee State University that his tuition bill was much larger than anticipated. He wouldn’t be able to pay," the St. Louis Post-Dispatch reports.

Blogs & Think Tanks

"In 1987, President Reagan's secretary of education, Bill Bennett, published a now classic New York Times op-ed titled 'Our Greedy Colleges' in which he argued that the government's attempts to make higher education more accessible may have also accidentally made it more expensive," Jordan Weissman writes for Slate's Moneybox blog.

x - INDUSTRY NEWS

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