"Higher education is bracing as the nation's debt ceiling nears its limit, The Hill reported," Diverse: Issues in Higher Education writes.

... "'Unfortunately, in the last several years, colleges and universities and financial aid offices have gotten used to a political game of chicken in Washington, D.C., and the potential for federal shutdowns, but this one is just a little bit different,' said Justin Draeger, president of the National Association of Student Financial Aid Administrators."

... "Colleges are hoping that a potential default would be short and have a limited effect on students, given that aid is mostly distributed in the fall or winter. However, even a few weeks of crisis could affect students."

"'For individual students who don’t receive their student aid disbursements, the difference between a couple of days and a couple of weeks can be huge because federal student aid just doesn’t cover tuition fees at an institution,' Draeger said. 'It also covers things like rent and other costs of living, like insurance or transportation and food.'"

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: 5/25/2023