NASFAA
TODAY'S NEWS

today’s news for Thursday, October 19, 2017

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FATV’s GetSAP: Are Persistence and Retention initiatives important to your institution? FATV's GetSAP connects Satisfactory Academic Progress (SAP) to these objectives. GetSAP transforms your school's SAP policy into a highly engaging, interactive, online video educational experience. Improve student understanding of SAP, and track learning outcomes. To learn more, visit http://www.get-sap.com or call 888-704-9090.

NEWS FROM NASFAA

There's general bipartisan agreement that in order for students, colleges, and policymakers to make more informed decisions, the nation's higher education data infrastructure needs a reboot. But deciding on how the system would be developed, what information would be included, and who would administer the system is more complicated.

The Department of Education published the 2018–19 verification data elements and documentation requirements in the May 5, 2017 Federal Register and Dear Colleague Letter GEN-17-05, and provided 2018–19 suggested text for verification in an Aug. 16, 2017 Electronic AnnouncementRelaxed verification requirements stemming from the IRS Data Retrieval Tool outage will not be applied to the 2018-19 award year, and financial aid offices will again be expected to require IRS tax transcripts for applicants selected for verification. 

School XYZ accidentally released personally identifiable information to the wrong students, which included the name of the student, the amount of financial aid the student was eligible to receive, and the student’s school identification number, which is used in accessing the student portal. Roughly 100 students were affected. How should the school handle this mistake?

In a Sept. 6, 2017 Electronic Announcement, the Department of Education (ED) informed schools that it will be delaying the Federal Perkins Loan Excess Liquid Capital (ELC) notification and collection process until after the eCampus-Based System transition to the Common Origination and Disbursement (COD) System is completed next year. Even though the announcement includes the ELC formula, schools should not duplicate last year's ELC Proportional Share Worksheet, nor attempt to return funds until ED notifies schools to return the federal share in early 2018.

 Austin 2018

We want to offer lots of great sessions at the 2018 NASFAA National Conference––set for June 24-27, 2018 in Austin, TX––but we need your help. Got an idea for a great session? Read through the tips on Presenters and Moderators page for more information and submit your interest session proposal by Monday, Oct. 23.

U.S. DEPARTMENT OF EDUCATION

The Department of Education has posted a service release update for EDExpress for Windows 2017-2018, Release 2.0, on the Federal Student Aid Download website.

FEDERAL REGISTER

Federal Student Aid (FSA) replaced the PIN system with the Personal Authentication Service (PAS) which will employ an FSA ID, a standard user name and password solution. The information collected to create the FSA ID enables electronic authentication and authorization of users for FSA web-based applications and information and protects users from unauthorized access to user accounts on all protected FSA sites.

HEADLINES

National News

"One of the loudest complaints about higher education these days is that prospective students lack good information about the value of college credentials and, likewise, that employers too often are left in the dark about the knowledge and skills they can expect of credential holders," Inside Higher Ed reports. "A sprawling new project seeks to change that by creating a centralized database of information about postsecondary credentials -- all 250,000 or so of them in the U.S., ranging from Ph.D. to badge, professional license to apprenticeship and certificate."

"The U.S. Department of Education's National Center for Education Statistics (NCES) has made key changes to the Integrated Postsecondary Education Data System (IPEDS), which is used to measure success rates in higher education," Community College Daily reports. "But while the changes reflect 'significant progress,' they don't go far enough in providing accurate data on outcomes for community college students, said Kent Phillipe, associate vice president for research and student success at the American Association of Community Colleges (AACC)."

State News

"Beginning in the fall of 2018, CU Boulder will do away with more than 60 course and program fees, which can range anywhere from $1 to upwards of $1,000," KUSA reports. "CU Boulder's chancellor announced Tuesday the university will no longer charge students the more than $8 million in annual course fees beginning in 2018."

Opinions

"If you're in the market to buy a home, you might hear a real estate professional say it's all about 'location, location, location,'" Michelle Singletary writes for The Washington Post. "Those in the business of deceit also look for the best location –– but not necessarily a physical place. For scammers, it's all about where they'll get the most money victimizing people. And one of the hottest places to be right now involves student loans, which are at an all-time high of $1.4 trillion."

Blogs & Think Tanks

"Educational debt has reached levels that are hard for the average American to fathom. By some estimates, outstanding student loans have reached a whopping $1.45 trillion dollars. Over 44 million Americans have some form of student loan debt, with 2016 graduates averaging over $37,000 in debt," according to MoneyTips. "That's an enormous pool of outstanding debt – or, as scammers would classify it, an enormous pool of opportunity."

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