"Campus teams responsible for teaching financial literacy concepts to students—and in turn, improving cohort default rates on student loans—need not operate as islands within higher ed," University Business reports. "Two new national resources are available to provide effective content for formal programs taught to groups of students and for discussions and explanations that occur during one-on-one financial aid counseling sessions."

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In our rapidly changing economy, up-to-date knowledge is imperative for administrators aiming to provide accurate and useful financial advice to students. In an effort to validate the skills and knowledge needed, the National Association of Student Financial Aid Administrators (NASFAA) recently launched its Certified Financial Aid Administrator Program.

The lack of regulation on financial literacy education at postsecondary institutions leaves gaps in terms of standardized resources for financial aid officers, says Dana Kelly, NASFAA’s vice president of professional development and institutional compliance.

Administrators who have 5 years or more experience in the field, have a BA degree, pass an entry exam, and agree to NASFAA’s code of ethics do not need to have earned NASFAA credentials in order to apply to the program. Once admitted, participants learn about specific evolving topics such as student eligibility for financial aid."

NASFAA's "Notable Headlines" section highlights media coverage of financial aid to help members stay up to date with the latest news. Articles included under the notable headlines section are not written by NASFAA, but rather by external sources. Inclusion in Today's News does not imply endorsement of the material or guarantee the accuracy of information presented.

Publication Date: 8/22/2019