Next Gen FSA: New Development to Support School Partners, Students, and Borrowers

By Hugh T. Ferguson, NASFAA Senior Staff Reporter  

Speakers:
Colleen Campbell, United States Department of Education Office of Federal Student Aid
Margaret Glick, Chief Information Officer, U.S. Department of Education

Federal Student Aid (FSA) has undergone a number of updates and enhancements in recent years with more in the pipeline for the remainder of 2022.

On Monday, NASFAA members were able to receive an update on the Next Gen initiative from Department of Education (ED) officials who provided mock up slides and test data detailing enhancements that are slated for release in the coming months. The discussion aimed to help financial aid professionals have access to more transparent data and improve case management systems as these products are developed and rolled out.

Specifically, officials walked through the new National Student Loan Data System (NSLDS) and Postsecondary Education Participants System (PEPS), and provided insight into the new loan repayment environment that FSA is building as the legacy loan servicing contracts expire.

Colleen Campbell, a program manager in the Next Gen Program at the Office of FSA, walked the audience through soon to be released financial aid dashboards with modern interfaces that will allow aid administrators to pull information directly from ED to review with given students. 

Additional enhancements will include new and better navigation on the screen.

There will also be a new cohort default rate (CDR) dashboard containing rate information as well as a new enrollment reporting dashboard that will provide administrators with more real time easily accessible data.

Campbell also provided a clear road map on the Unified Servicing and Data Solution (USDS) where they will work to establish a new servicing system, representing the culmination of the Next Gen FSA initiative.

Margaret Glick Chief Information Officer at ED also walked financial aid administrators through the latest cybersecurity updates, and how they will keep servicers and offices guarded against bad actors looking to exploit user data. ED wants to hear from users on their experiences with cybersecurity and welcomes feedback from attendees.

Campbell and Glick then heard directly from members who described their office processes and looked to provide ED with on the ground experience as to how ED could go about implementing enhancements to their online resources.

Follow along with all that's going on today on Facebook and Twitter using #NASFAA2022 and keep an eye on our 2022 Conference Summaries page for frequent updates throughout the conference.

 

Publication Date: 6/27/2022

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