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today’s news for Thursday, October 29, 2020

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The College Board. College Board stands ready to assist the community as you respond to COVID-19 and deliver aid in new and different ways. Institutional Documentation Service (IDOC) allows families to submit documents via a secure file upload or mail and can be implemented in a few days during this time of displacement.

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NEWS FROM NASFAA

Democrats on the House Committee on Education and Labor have obtained new documents that they say offer proof that Department of Education (ED) officials purposefully derailed an online tool meant to assist defrauded student loan borrowers and have bungled efforts to reinstate the website. The documents obtained refer to a borrower defense resource designed to ease the application process for borrowers who were in many instances defrauded by for-profit institutions.

The Department of Education’s (ED) Office of Inspector General (OIG) unveiled its annual plan for Fiscal Year (FY) 2021-22 with the intention of completing a series of audits and inspections related to the Coronavirus Aid, Relief, and Economic Security (CARES) Act. According to the report, the agency plans to “include reviews of [the] Department’s oversight of multiple grant programs and relief funds, grantee management and use of CARES Act awards, and the effectiveness of the Department’s processes to implement flexibilities in the student financial assistance programs.”

NASFAA UPDATES AND ANNOUNCEMENTS

AskRegs

No. According to guidance NASFAA has received from the U.S. Department of Education (ED), you cannot continue to pay the student Federal Work-Study (FWS) for hours he or she is unable to work from Thanksgiving through the end of the term in this scenario when the school planned in advance for students to be sent home after Thanksgiving. 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's Board of Directors is here to represent you and is seeking your input. Please email any questions or comments you might have directly to a member of the NASFAA Board by clicking on their name on our Board Member Bios page. Questions or feedback may pertain to NASFAA products and services, membership benefits, policy/advocacy issues, or any other topic you would like to bring before the Board. The Board will compile and discuss at the Nov. 16-17 virtual Board meeting. We welcome your insight.

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Do you find aspects of administering Title IV aid for clock-hour programs alarming? Don't hit snooze on this one. Join NASFAA's Lissa Powell and David Tolman, at 2:00 p.m. ET, Wednesday, November 18, 2020 — along with a panel of colleagues from schools offering clock-hour programs — as we discuss the most timely guidance to help ensure no alarms go off during your next audit or review. Register now to secure your spot.

Blue Icon

Rhode Island School of Design experienced growth in its student employment program, and the school wanted to ensure it remained in compliance and maximized efficiency. Blue Icon Advisors performed a compliance and operational review of the program, and as a result, the school was able to secure additional resources to support the student employment program. Contact Blue Icon for help with your own operational or compliance review. 

U.S. DEPARTMENT OF EDUCATION

Federal Student Aid (FSA) is committed to ensuring borrowers have the information they need to determine if the Public Service Loan Forgiveness (PSLF) Program is right for them. By leveraging work on the Next Gen FSA initiative, FSA have made or will make some changes to clarify information, simplify processes, and improve the overall borrower experience with the PSLF Program.

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