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today’s news for Wednesday, October 21, 2015

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At Edfinancial, getting your students to the finish line is what matters most. Whether it’s answering questions about enrollment, explaining financial aid processes or preventing student loan default, we can help your students succeed. Find out how we do it by visiting us at www.edfinancial.com/HES/Casestudies

NEWS FROM NASFAA

The Department of Education (ED) last week released a resource guide for education officials and community members to support undocumented high school and college students. Take a look at the guide and share your thoughts in the comments section!

Remaining in compliance with federal regulations costs the U.S. higher education sector an estimated $27 billion per year, or between 3 percent and 11 percent of an institution’s operating expenditures in fiscal year 2014 , according to a new study from Vanderbilt University.

Share Your Story

Are you a seasoned financial aid professional? A lot has changed within higher education and financial aid in the last several decades. We’re looking for interviewees to share how working in financial aid has changed over the last 50 years. Tell us what you’ve learned and how you’ve adapted by sending an email to [email protected], with the subject line “Financial Aid After 50 Years.”

Since its inception 50 years ago, NASFAA has helped thousands of students reach their higher education goals. Imagine how far NASFAA will lead us in the next 50 years Help us reflect on our past and look to our future. Memories and artifacts are being gathered for the first-ever NASFAA Time Capsule, which will be sealed at the 2016 NASFAA Conference and reopened in 50 years.

NASFAA UPDATES AND ANNOUNCEMENTS

Celebrated each year on the third Wednesday in October, Financial Aid Day (FAD) is a special day set aside to celebrate and recognize the contribution of all financial aid professionals across the United States for helping students make their college-going dreams a reality. On FAD colleagues are encouraged to do something special—have an office party, a potluck, a toast, etc.—to celebrate financial aid administrators' contributions to the profession. What is your office doing to celebrate the occasion? Send your stories and pictures to [email protected] or share them on our Facebook page.

U.S. DEPARTMENT OF EDUCATION

The Department announces the availability of the updated National Student Loan Data System (NSLDS) Enrollment Reporting Guide, a comprehensive document containing step-by-step instructions for reporting enrollment information to NSLDS. 

The Department announces the posting of the 2016-2017 CPS Test System User Guide on the Federal Student Aid Download (FSAdownload) Web site, located at https://www.fsadownload.ed.gov.

Federal Student Aid announces the availability of the Common Origination and Disbursement (COD) Computer Based Training (CBT).

x - FEDERAL REGISTER

The Department must receive nominations for negotiators to serve on the committee on or before November 19, 2015. The committee will meet for three sessions on the following dates: Session 1: January 12-14, 2016; Session 2: February 17-19, 2016; and Session 3: March 16-18, 2016.

An emergency review has been requested due to an unanticipated event. Approval by the Office of Management and Budget (OMB) has been requested by November 20, 2015; therefore, comments are requested on or before November 10, 2015. A regular clearance process is also hereby being initiated. Interested persons are invited to submit comments on or before December 21, 2015.

x - HEADLINES

National News

"A new company is seeking to be both a private lender and an alternative accreditor for the fast-growing boot camp sector," Inside Higher Ed reports.

"If the departing secretary of education, Arne Duncan, has any regrets about his supervision of higher education, it’s not cracking down on 'bad actors' in the for-profit-college sector sooner," according to The Chronicle of Higher Education.

"More than 200 colleges and universities have said they’re interested in joining the Obama administration’s pilot program that will provide Pell Grants to incarcerated students, an official said Monday," Inside Higher Ed reports.

"Mark Tetzlaff is a 57-year-old recovering alcoholic who has been convicted of victim intimidation and domestic abuse. He may also be the person with the best shot at upending the way U.S. courts treat student debt for bankrupt borrowers," Bloomberg Business reports.

"First lady Michelle Obama launched a new campaign Monday to encourage teenagers, or generation Z, to pursue higher education," NBC News reports.

"Senate Democrats are calling on the Department of Education to take immediate action to stop tens of millions of dollars in federal funds from going to potentially fraudulent for-profit colleges and universities," The Hill reports.

"Last year, Fortune reported that the patchwork of laws was letting some public universities use their standing as state agencies to skirt local minimum wage laws when it came to what they paid for on-campus jobs. Student workers, it seems, are now fighting back," Fortune reports.

State News

"Among the booths advertising healthcare options and encouraging union membership at a new teacher orientation this summer, one company offered 'student loan forgiveness for Miami-Dade teachers,'" according to The Miami Herald.

Opinions

"The cost of higher education keeps getting higher, and policymakers haven’t been helping. Hillary Clinton’s recently announced 'New College Compact' is the latest example," Wesley Coopersmith, a policy and legislative analyst  at Generation Opportunity, writes in an opinion piece for The Hill.

"The U.S. Department of Defense took a strong stand against the abusive for-profit college industry when it recently suspended one of its largest players from recruiting on military bases and accessing federal dollars available to service members for educational expenses. If only the rest of the federal government, Congress included, would be as assertive," The Kansas City Star says in an editorial.

Blogs & Think Tanks

"ITT Educational Services, one of the largest operators of for-profit technical schools, is facing tougher sanctions for mismanaging financial aid dollars and could ultimately lose access to federal funding," The Washington Post's Grade Point reports.

"Federal agencies are increasingly turning to payments aimed at helping their employees pay off student loans as a way to attract and keep valued employees, according to a new report," The Washington Post's Federal Eye reports.

x - INDUSTRY NEWS

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