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Nearly two-thirds of new and prospective college students said they have felt lost navigating the abundance of information to select a college that’s the right fit, according to a brief released today from New America. But despite the confusion, three-quarters of the students surveyed said they found all the information necessary to make their college decisions.

The Department of Education (ED) last week released the allocation information for student loan servicers for the first period of 2015-16, as well as customer service data for the final quarter (Q4) of fiscal year (FY) 2015.

The primary purpose of the One Grant/One Loan Task Force is to discuss the different possible structures of a one grant/one loan model and the implications of each; identify the trade-offs related to simplification, targeting, transparency, etc.; discuss the school’s role; consider other implications of the model, such as consumer information and loan servicing; examine the potential impacts to existing campus-based aid programs; and provide recommendations and considerations to the NASFAA board in a final report. Review the complete task force charter for more details and, if interested, complete the volunteer form by COB tomorrow.

NASFAA University recently launched a new Testing Center to assess knowledge and provide professional credentials. The redesigned platform now offers the examinee a fully responsive design with many more accommodating features to its predecessor. View across browsers and devices, receive instant feedback on testing results, and even print credential certificates. Visit the new and improved testing center and earn your NASFAA Professional Credentials now.  

The Default Reduction Assistance Program (DRAP) assists schools in bringing defaulted Federal Perkins Loan (Perkins Loan) borrowers back into repayment before their accounts are sent to collection agencies. A letter is sent from the Department of Education (the Department) on official Departmental letterhead to defaulted Perkins Loan borrowers. It explains the serious consequences of default including the inability to obtain other federally supported financial assistance, withholding of federal and state income tax refunds, salary garnishment, and damage to credit history. It also encourages borrowers to contact the school to initiate repayment arrangements.

The Foreign School Information Web page consolidates, in one location, the U.S. Department of Education’s (the Department’s) guidance and information for foreign schools. The Department announces the posting of updated documents on the Foreign School Information Web page.

On Monday, September 28, 2015, the Department of Education plans to release Cohort Default Rates to all schools, both domestic and foreign, guaranty agencies, and lenders only. All schools who are enrolled in the Electronic Cohort Default Rate (eCDR) process will receive their FY 2012 3-Year Official Cohort Default Rate and accompanying documentation via their Student Aid Internet Gateway (SAIG) mailbox. The official cohort default rate is found on the first page of a school’s official notification letter and the last page of the Loan Record Detail Report (LRDR).

"New York University is among the country’s wealthiest schools. Backed by its $3.5 billion endowment as well as its considerable fundraising prowess, the school has built campuses in Abu Dhabi and Shanghai, invested billions in SoHo real estate, and given its star faculty loans to buy summer homes. But the university does less than many other schools when it comes to one thing: helping its poor students," according to The Atlantic.

"With the 2016 presidential campaign well under way, student debt has become a central issue as more Americans struggle with rising college costs and $1.2 trillion in student debt," The Wall Street Journal reports.

"Lazarius Miller deserves an A in dodging debt. The first-generation college student, who's cut living costs as a resident assistant and scored multiple scholarships, is on track to graduate debt-free from Michigan State University next year," according to U.S. News & World Report.

"Most previous efforts to introduce transparency to college financial aid have not resulted in their intended changes," W. Kent Barnds writes for Inside Higher Ed. "But a new policy that the White House announced this past Sunday has been described as a game changer. And it is." NASFAA is mentioned in the article.

"Alarm bells are sounding across America as student debt has eclipsed one trillion dollars, larger than that of even credit cards. ... A closer look at this 'crisis,' however, doesn’t seem to support the cause and effect relationship that is part of the conventional narrative," John Ebersole writes in an opinion piece for Forbes.

"Student loans: are they a financial death knell for all who hold them, or… not that big of a deal at all?" Maggie McGrath asks in an opinion piece for Forbes.

"Growing up, my family struggled financially, but I was able to get a great college education with the help of student loans and financial aid," Rep. Suzan DelBene (D-WA) writes in an opinion piece for The Seattle Times.

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