"The Education Department’s latest round of negotiated rule making is officially underway, though officials remain mum on what changes they are planning to propose as part of an ambitious regulatory agenda for the next year," Inside Higher ED reports.

..."The breadth of comments highlights the difficult road ahead as the department plans to change the third-party servicer regulations in rule making. A number of organizations and companies opposed to the guidance have urged the department to use the rule-making process to make changes to the regulations for third-party servicers.

'With respect to third-party servicers, the department’s recently updated guidance about institutional requirements and responsibilities for third-party servicers has introduced significant confusion because the new guidance appears to change the regulatory definition of a third-party servicer,' said Jill Desjean, a senior policy analyst with the National Association of Student Financial Aid Administrators.

Desjean said NASFAA was grateful for the department announcement on guidance.

'It is critical that the department eliminate all potential negative unintended consequences if it moves forward with expanding the third-party servicer definition either during negotiated rule making or through guidance,' she said."

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: 4/17/2023