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today’s news for Tuesday, November 21, 2017

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NEWS FROM NASFAA

Higher education advocates are condemning a bill introduced in the House of Representatives last week, which would require low-income students who do not finish their programs of study in a certain amount of time to repay their Pell Grants.

In the latest issue of the Journal of Student Financial Aid (JSFA), Brent Evans, Tuan Nguyen, Brent Tener, and Chanell Thomas discover why students who appeared to have eligible expected family contributions (EFCs) in the National Postsecondary Student Aid Study were not awarded Pell Grants. The authors analyze the verification process for student-reported changes to EFC and report flaws in the system. Read the full article, which includes suggestions to improve the EFC verification process, and others in the latest issue of JSFA.

Every year, NASFAA recognizes outstanding members and other higher education stakeholders for their achievements and contributions to financial aid, students, and/or NASFAA. Award winners will be announced in June at the 2018 NASFAA National Conference in Austin, TX. Nominations are due Feb. 23, 2018; submit your nominations online today.

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If you missed the Cash Management: Disbursements webinar that aired on the Jan. 10, 2018, you can still take advantage of this learning opportunity by ordering the on-demand event. You'll receive full access to the webinar archive and handout. In addition, you will be provided with the Top 20 Most Frequently Asked Questions document compiled from questions submitted by attendees during the live webcast. If you attended the live event, you can still use your registration link to access the on-demand event and FAQ document. Order it today.

U.S. DEPARTMENT OF EDUCATION

The Department of Education announced the posting of the updated 2017-2018 Common Origination and Disbursement (COD) Technical Reference.

x - HEADLINES

National News

"The federal government makes billions of dollars a year charging students and parents fees to borrow money for college, but a group of financial aid officers say those loan origination fees are a burdensome tax on families that Congress needs to end," The Washington Post reports. "'This does not make sense in a federal loan program,' said Justin Draeger, president of the National Association of Student Financial Aid Administrators."

"Nearly 300,000 students who used Pell Grants to attend now-shuttered colleges have had their eligibility for the financial aid restored by the Education Department," The Chronicle of Higher Education reports. 

"Ending a tax deduction for interest paid on student loans. Raising taxes for more than 100,000 graduate students who receive tuition waivers. Imposing a levy on endowments at certain private colleges and universities. These actions are anathema to higher education leaders across the country. Yet they all appear in the House-approved Republican tax overhaul, evidence of a growing disconnect between large segments of the GOP and colleges that, for generations, have wielded enormous clout on Capitol Hill," according to the Chicago Tribune.  

"As debt levels rise, creditors are taking increasingly tough actions to chase people who fall behind on student loans. Going after professional licenses stands out as especially punitive," The New York Times reports.

State News

"California’s Legislature and governor may have officially signed off on covering tuition costs for the first year of community college last month, but many of the state’s colleges have already been offering some type of tuition-free program on their own," Inside Higher Ed reports. "And now questions remain about how those more than 40 tuition-free plans in the state will change once the statewide California Promise goes into effect."

"Lone Star College plans to build a seventh campus to serve predominantly low-income students who are now struggling at three satellite centers in north Harris County," according to the Houston Chronicle

Opinions

"The basic cause of America's student-loan crisis is no mystery: College tuition and fees continue to soar while the earnings of recent graduates remain flat. It shouldn't be surprising that there's also a straightforward way to lower the cost of a college degree: Reduce the amount of time it takes to earn one," the editors at Bloomberg write in an opinion article. 

Blogs & Think Tanks

"'Americans Losing Faith in College Degrees,' read a recent headline from The Wall Street Journal. The survey it cited, along with another from the Pew Research Center this summer, have spurred a rash of stories declaring that the country is giving up on higher education as a path to success — and that politicians who want to appeal to voters should follow that cue. Yet newly released polling diving deeper into the subject counters this 'common wisdom' among political pundits," Lanae Erickson Hatalsky and Ben Miller write for Third Way. 

x - INDUSTRY NEWS

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