Today's News for
Thursday, October 23, 2014
At Edfinancial, we measure success based on our
ability to effectively counsel student borrowers and lower CDRs.
Over 91% of customers saw rates drop by an average of 20%! To learn
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NEWS FROM NASFAA
Published in today’s federal register, the Department of Education has updated the definition of adverse credit and streamlined the application process. In comments submitted in September about the final rule, NASFAA expressed concerns regarding a need for different underwriting standards and about requiring PLUS counseling for certain borrowers, and supported the extension of the window for which an accepted credit check is valid from 90 to 180 days. ED will also begin collecting and publishing institutional PLUS loan Cohort Default Rates. Stay tuned to Today's News for more in-depth analysis of this final rule in the coming days.
Attendees at next year's NASFAA Leadership & Legislative Conference & Expo will have their choice of two leadership
pathways allowing them to receive a more targeted experience than
at previous conferences. The 2015 Leadership & Legislative
Conference & Expo, taking place March 1-3, 2015, in Washington,
D.C., includes two days of sessions on various leadership and
professional development topics, followed by a day on Capitol Hill
where participants can advocate directly with their congressional
delegation on behalf of their students.
Ever wonder what it is like to attend one of the NASFAA University Online Courses? View this short welcome video for the Packaging and Notification of Awards Online Course and see for yourself what over 800 of your colleagues have recently experienced attending a NASFAA U online course. Take advantage of the convenience, effectiveness, and affordability of online training and register today for a NASFAA U Online Course!
These regulations strengthen and improve administration of the Federal Direct PLUS Loan Program authorized under title IV of the Higher Education Act of 1965, as amended (HEA).
"The U.S. Department of Education Wednesday announced additional
changes to the Parent PLUS Loan requirements, which have been the
source of much controversy recently," Diverse Issues in
Higher Education reports. "'Although the typical borrowing profiles of parents and graduate/professional students are very different, currently ED applies the same credit standards to both parent and graduate/professional borrowers (i.e., PLUS borrowers must have no adverse credit history in order to borrow),' said Justin Draeger, president of [NASFAA], in a statement submitted to the department ahead of the rule changes."
"Fortunately, colleges in recent years have become more
transparent when it comes to letting prospective students know how
much their education will cost," Consumer
"Republican senatorial candidate Ed Gillespie wants to ease the
debt burden on college graduates by pushing an income-based payment
system if elected on November 4," CBS
"Virginia higher education officials are making it easier for
students to take online classes and for universities to offer
them," The Associated Press reports.
"Recently, [Mark] Cuban opined about student debt at Inc.'s
GrowCo Conference. Against the backdrop of rising student loan
default, he made a compelling case that, in the interest of
economic growth, the federal government should set a per-student
ceiling on the amount of student loan money it gives out every
year," James Marshall Crotty writes for Forbes.
Blogs and Think Tanks
"A new private student loan is taking a page out of the mortgage
playbook in its design," The Wall Street Journal's Total
Return blog reports.
"Federal loan options for health profession students include
health professions student loans, nursing student loans, primary
care loans and loans for disadvantaged students," U.S.
News & World Report's Student Loan Ranger blog
NASFAA CAREER CENTER