NASFAA
TODAY'S NEWS

today’s news for Friday, June 5, 2020

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ELM Resources. ELM's National Service Center has over twenty-five years of experience in the student lending industry, including the transition from FFELP to Direct Lending. We were there for you then, and we are here for you now as you prepare your institutions for unpredictable events this fall. Our team members are ready to assist you, at no cost and with no bias. We stand ready to help. NSC@elmresources.com or (866) 524-8198.

NEWS FROM NASFAA

 Off the Cuff

This week on "Off The Cuff," Justin is joined by NASFAA's Diversity Officer Craig Slaughter, director of financial aid at Kenyon College in Ohio. Together the two talk about recent developments in the country and what financial aid professionals can do, both individually and as an association, to help bring about change in combating systemic racism in America and creating equal opportunity for students. Then, the team dives into the latest news regarding the CARES Act, including a recent report from the Congressional Research Service that casts a shadow of doubt on the Department of Education's guidance regarding eligibility for emergency student grants. Meanwhile, the Senate education committee on Thursday held a hearing on reopening college campuses in the fall and what will be required, both with regard to testing and financial resources for students. Finally, Megan brings us up to speed on the future of the Trump administration's borrower defense rule, as Congress moves toward a scheduled date to vote on overriding President Donald Trump's veto of a bipartisan bill that would have blocked implementation of the 2019 rule. Send us your questions, comments, and feedback, remember to subscribe, and we will talk to you next week!

A handful of college and university presidents made clear that additional support from the federal government will be needed to safely bring students back to campus in the fall, namely the need for testing supplies and clear guidance from health organizations. At Thursday’s Senate Health, Education, Labor & Pensions (HELP) Committee hearing on “COVID-19: Going Back to College Safely,” the question was not whether students will go back to college campuses across the country in the fall, but how to do so safely, said committee chair Sen. Lamar Alexander (R-Tenn.) in his opening remarks. 

COVID-19 ASKREGS

AskRegs

This AskRegs Knowledgebase Q&A has been updated to clarify guidance in the May 15, 2020 Electronic Announcement that defines whether a student is a withdrawal due to COVID-19 under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). It now reflects the school's reasonable options when assuming a student's withdrawal is related to COVID-19. The following guidance refers only to the return of Title IV funds (R2T4) provisions in the announcement, not to satisfactory academic progress (SAP). View the full answer to this question to learn more and search for answers to your other pressing regulatory and compliance questions, in NASFAA's AskRegs Knowledgebase.

AskRegs

The school decides whether it will include pass/fall courses in the calculation of a student’s grade point average (GPA or qualitative component) when performing the satisfactory academic progress (SAP) evaluation. Typically, pass/fail courses are not factored into the qualitative component, but the courses do count toward the quantitative measure (pace of progression). View the full answer to this question to learn more and search for answers to your other pressing regulatory and compliance questions, in NASFAA's AskRegs Knowledgebase.

AskRegs

Yes, but it's entirely up to the institution after consulting with its information technology (IT) department and/or legal counsel. The following is from the U.S. Department of Education's (ED's) Title IV, HEA Q&A that is attached to the May 15, 2020 Electronic Announcement:"The Department cannot exempt an institution from record retention or data security requirements. An institution must use its judgment to determine whether it can securely use email or other electronic methods to exchange information with applicants and students. View the full answer to this question to learn more and search for answers to your other pressing regulatory and compliance questions, in NASFAA's AskRegs Knowledgebase.

NASFAA UPDATES AND ANNOUNCEMENTS

Join Us in Welcoming the Following Members...

Please join us in giving NASFAA's newest members — Hawaii Medical College, National Latino Education Institute, Southern Crescent Technical College, and West Virginia Junior College - Morgantown — a warm welcome. This month we also have the pleasure of welcoming back the following members: Alcorn State University, Beaufort County Community College, Clovis Community College, Franciscan Missionaries of Our Lady University, SOWELA Technical Community College, and The Modern College of Design. We are glad to have all of you as NASFAA members!

Webinar Logo

This year's events have brought emergency preparedness to the forefront of our attention in all areas of life — including in the financial aid office. How did your school handle shutting down during the COVID-19 pandemic? Were you prepared to go completely digital? Learn how you can get a plan in place to be fully operational from wherever you are, and wherever your students are, during this 60-minute webinar at 1:00 p.m. ET on June 11, sponsored by CampusLogic. These ideas go beyond helping during emergency — they assist in serving the ever-growing population of students who are more comfortable on their computers than anywhere else. Learn how to future-proof your office for success, and register today.

Please join us in congratulating Marvin Smith, executive director, student financial services at Indiana University–Purdue University Indianapolis, who has accepted the position of Executive Director for the University of California, Los Angeles Financial Aid and Scholarships, starting Aug. 3, 2020. NASFAA members are always moving ahead, whether enhancing their skills in their current roles, accepting promotions or job changes, or discovering new pathways as retirees. Have you changed jobs recently? Are you newly retired? Have you won an award, or started a new initiative on campus? Celebrate your career developments by completing the "Movers and Shakers" form to share the news with your colleagues. We'll review your submission and then post your update to our Movers and Shakers page for all to see.

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FEDERAL REGISTER

The Department of Education (ED) announced the annual updates to the tables used in the statutory Federal Need Analysis Methodology that determines a student's expected family contribution (EFC) for award year (AY) 2021-22 for student financial aid programs.

The Department of Education (ED) requests an extension of the information collection to approve a form used to obtain information from federal student loan borrowers who allege that the loan(s) in their name were the result of a forgery. This information is used by the Secretary to make a determination of forgery for the Direct Loans, FFEL Program Loans, and Federal Perkins Loans held by the Department.

NOTABLE HEADLINES

INDUSTRY NEWS

NASFAA TRAINING

NASFAA CAREER CENTER

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