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TODAY'S NEWS

today’s news for Friday, January 17, 2020

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NEWS FROM NASFAA

 Off the Cuff

This week on “Off The Cuff,” Justin, Megan, Jill, and Allie pick a winner from last week’s activity challenge before diving into presidential hopeful Sen. Elizabeth Warren's (D-Mass.) newest plan for canceling student debt, which would bypass Congress to forgive the loans of 95% of borrowers. At 5:51, Jill discusses the implications of Warren’s proposal, and at 15:52 Justin delves into a recent study about massive debt forgiveness and its potentially positive impact on the economy. At 19:53, the team unpacks different proposals for national free college mentioned during the most recent Democratic presidential debate, and at 25:07 Megan talks about forward movement in the House to pass a resolution to block the Trump administration’s rewritten borrower defense regulations. Plus, the group asks its listeners to share their latest and greatest life hacks and to demonstrate on social media how they are getting moving this week for the chance to win a prize next week for NASFAA’s activity challenge.

The House voted 231 to 180 to pass a resolution Thursday blocking the implementation of the Trump administration’s rewritten borrower defense regulations, which are currently set to go into effect July 1, 2020. To revert to the former rules, the resolution would also have to pass the Republican-controlled Senate, and then be signed by the president — whose office already signaled intentions for a veto.

NASFAA UPDATES AND ANNOUNCEMENTS

NASFAA Office Closed Monday for the Martin Luther King, Jr. Day Federal Holiday

The NASFAA office will be closed on Monday, January 20 for the Martin Luther King, Jr. Day federal holiday. NASFAA's Today's News will not be sent, and membership and technical support — as well as response to AskRegs inquiries — will resume when the office reopens on Tuesday, January 21.

Webinar Logo

Join us Wednesday, February 12 for the Financial Literacy webinar, designed for those who are working actively to implement financial wellness programs. Presenters Bryan Ashton, vice president of community investment at Trellis Company, and Philip Schuman, director of financial literacy at Indiana University, will provide case studies of successful methods for establishing financial wellness, building financial wellness programs on campus, and navigating institutional pushback that may occur around financial wellness initiatives. The presenters will share examples of how financial aid offices can engage in financial wellness programming and explore the impact of student finances on student success. Register now.

Leadership Conference

Are you joining us for NASFAA's Legislative & Leadership Conference & Expo in Washington, D.C. this February? Make sure to check out this helpful guide of things you can do around the nation's capital to make the most of your visit. There's more than just the White House and national monuments — try checking out one of many museums across the city, like the International Spy Museum, the National Gallery of Art, or one of the Smithsonian museums. In fair weather, you can also visit the National Arboretum, or head out for a tour of the Capitol building to keep out of the cold. We look forward to seeing you all February 3-5.

Please join us in congratulating Nick Prewett, CFAA, currently the director financial aid at University of Missouri, who will become the director financial aid at Stony Brook University; Misty Sabouneh, currently the account development director at CampusLogic, who will be the assistant vice president for financial literacy and integrity at Southern New Hampshire University; Keri Gilbert, formerly the senior assistant director at the University of Missouri, who is now the senior associate director at the Missouri College Access Network; and Ashlea Buntin, CFAA, who was promoted from associate director to director of financial aid and scholarship services at William Jewell College. Learn more about other colleagues' accomplishments, recognitions, and achievements, and submit your own on our Movers and Shakers page.

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U.S. DEPARTMENT OF EDUCATION

If a school returns more than 10% of its Federal Supplemental Educational Opportunity Grant (FSEOG) or Federal Work-Study (FWS) allocations in a given award year, the allocation for the second succeeding award year is reduced by the dollar amount returned unless the secretary waives this provision. The deadline to request a waiver of the 2020–21 award year penalty of FWS and FSEOG for the underuse of 2018–19 award year funds is Feb. 3, 2020.

On Jan. 15, 2020, Federal Student Aid updated this announcement to revise the deadline date for submitting the “Application for Designation as an Eligible Institution for Title III or Title V Programs” to Jan. 31, 2020.

FEDERAL REGISTER

The Department of Education proposes revising the current regulations regarding the eligibility of faith-based entities to participate in its Direct Grant programs, State-Administered Formula Grant programs, and discretionary grant programs authorized under Title III and V of the Higher Education Act of 1965, as amended (HEA).

The Repayment Plan Request form serves as the means by which Direct Loan borrowers notify the Department of Education of their choice of an initial repayment plan under the Standard, Extended or Graduated options before their loans enter repayment.

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