Today's News for
Tuesday, September 23, 2014
For over 19 years, ELM Resources has
provided open and lender-neutral choice. As a trusted,
not-for-profit name in the student loan industry, over 1,600
implemented schools use ELM's Web-based solutions, including
ELMNet, ELM NDN and ELMSelect for private loan processing and
disbursements. For more information, visit http://www.elmresources.com.
NEWS FROM NASFAA
In July, NASFAA's Campus-Based Allocation Task Force
released a report with recommended changes to the
allocation formula for Federal Work-Study (FWS), among other
campus-based aid programs. In a new report out this week, policy
organization Young Invincibles (YI) takes a similar look at the
formula behind the decades-old financial aid staple.
The Department of Education yesterday electronically distributed the official three-year cohort default rates (CDR) for Fiscal Year (FY) 2011. While cohort default rates were originally only calculated based on two-year rates, the 2011 three-year rates sent yesterday to institutions marks the complete transition to only three-year rates. The CDRs have not yet been released to the public, but in the meantime, tell us... did your institution's CDR go up from the previous year, go down from the previous year, or stay the same? Take the poll now to weigh in anonymously and see how other schools fared.
The Department of Education (ED) has posted a draft of the
2015-16 Paper Free Application for Federal Student Aid (FAFSA) and
other related documents (e.g., Paper Student Aid Report). The
documents can be found under Forms and Instructions. Comments
should be submitted electronically through the Federal
eRulemaking Portal by selecting Docket ID number
ED-2014-ICCD-0126 or via postal mail, commercial delivery, or hand
delivery. In addition, please submit a copy of
your comments to NASFAA so that we can represent the interests and
concerns of our member institutions. Comments are due by October
The Student Eligibility online course is currently underway! In addition to course attendees learning about student eligibility and paving their way to a NASFAA Credential, they are networking, collaborating, and learning from their peers in the industry. Peek inside one of the first live Get-Together sessions that take place each week and see for yourself how the NASFAA U online courses can help you advance both personally and professionally. View and register yourself for other course offerings this 2014-15 season.
U.S. DEPARTMENT OF EDUCATION
On September 22, 2014, the Department of Education electronically distributed the FY 2011 3-Year official cohort default rate (CDR) notification packages to all eligible domestic and foreign schools. In this announcement, it provides information about that distribution and the begin dates for appealing official CDRs.
"Financial aid is in a state of flux, but an institution's size
and selectivity offer clues to what kind of student assistance gets
prioritized," Diverse: Issues in Higher
"Most families know the basics of college financial aid ... What
many don't know-or at least, don't realize until it's too late-is
that the timing of certain financial decisions made well before and
even during college can significantly alter a student's eligibility
for aid from both the federal government and the university
itself," according to The Wall Street Journal.
"There's been lots of debate lately in housing circles about the
impact of student debt on home ownership. Now there's a new study
out that attempts to put a number on that impact:
414,000," The Los Angeles
"While some New Hampshire lawmakers like the idea freezing
in-state tuition at public colleges for another two years, they
aren't ready to increase funding for the university system by 34
percent," WMUR9 reports.
"A proposal to raise tuition at the University of California at
Berkeley's Graduate School of Journalism has some faculty members,
alumni and students worried about destroying the school's
distinctive character," Inside Higher
"In America today, the rate of return for college graduates has
never been more disparate. This has led to skyrocketing student
loan default rates and limited career opportunities for some
graduates, and a general public distrust of the country's higher
education system," F. King Alexander, president and chancellor
of LSU, writes for U.S. News & World Report.
Blogs and Think Tanks
"Besides the most elite schools, nearly all private nonprofit
colleges provide merit aid or tuition discounts - often to the
detriment of the low-income students they enroll," according to the
News America Foundation's EdCentral.
"Throughout the [National Association for College Admission
Counseling's annual] conference trade-offs dominated discussions,"
according to The Chronicle of Higher Education's Head
"The hot topic in higher ed policy circles right now is the idea
of tying federal ratings of various colleges to their eligibility
for higher or lower levels of financial aid for
students," Inside Higher Ed's Confessions of a Community
College Dean blog reports.
NASFAA CAREER CENTER