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today’s news for Friday, September 14, 2018

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NEWS FROM NASFAA

 Off the Cuff

This week on "Off The Cuff," the team returns from a summer hiatus with plenty of updates from a busy August. While the Senate pushed forward in its work toward passing a budget, the House passed a bipartisan bill on annual counseling, which would implement new requirements designed to ensure that students make informed decisions when accepting federal loans and Pell Grants. Plus, the Department of Education released proposed regulations for both borrower defense and gainful employment. Justin and Megan explain NASFAA's submitted comments for both proposed rules, and give an update on NASFAA's recent work on improving award notifications. Plus, Allie relays what it’s like to have a part of your life play out like a thriller.

The Department of Education (ED) last month announced plans to rescind gainful employment (GE) regulations, and instead update the College Scorecard, or a similar web tool, to include program-level data for all schools participating in Title IV student aid programs. In response to a call for public comment, NASFAA wrote to ED Thursday to express its concern over voiding the rules entirely, and urged Congress to take an active role in sanctioning poorly-performing programs.

NASFAA UPDATES AND ANNOUNCEMENTS

Today, as some institutions may be dealing with or anticipating the impact of Hurricane Dorian, NASFAA would like to remind institutions about existing guidance regarding the impact of a "major disaster" on the administration of the Title IV federal student aid programs. Dear Colleague Letter GEN-17-08 and its attachment are intended to help Title IV student financial aid recipients and their families who are affected by a federally declared major disaster. It supplements all information in the FSA Handbook and supersedes guidance included in previous Dear Colleague Letters, including GEN-10-16, FP-10-06, GEN-05-17, and GEN-04-04. More information on natural disaster guidance can be found here in our AskRegs Knowledgebase. Most importantly, to those affected, NASFAA staff and Board of Directors send you our thoughts for your safety and well-being. NASFAA staff will be available by phone and email, or via AskRegs, to answer any questions or provide guidance to those dealing with Title IV administration in a natural disaster zone.

NASFAA U

NASFAA U started with a simple idea: create a credentialing program financial aid administrators can use to prove their knowledge, show their expertise, and boost their professional development. Since NASFAA U's inception there have been 12,944 credentials earned by 4,550 people across 17 subjects. As of today, 36 individuals have earned all 17 credentials currently offered by NASFAA U. Each person had to demonstrate substantial knowledge in the subject area and pass the respective test. Join us in congratulating all the individuals who have successfully earned one, or more, NASFAA U professional credentials. Inspired to pursue your own credential? Learn more about how to qualify to sit for a credential test.

AskRegs

No. Under section 484(b) of the Higher Education Act of 1965 (HEA), as amended, and 34 CFR 685.301(a)(7), a borrower actually must receive the maximum amount of Direct Subsidized Loan funds for which student is eligible for the loan period before the borrower may receive a Direct Unsubsidized Loan for the same loan period. View the full answer to this question to learn more and search for answers to your other pressing regulatory and compliance questions, in NASFAA's AskRegs Knowledgebase.

TRENDING IN FINAID NEWS



The school has just begun to offer online courses within an existing Title IV eligible program. The Program Participation Agreement (PPA) does not currently reflect any correspondence or distance education courses. Does this need to be updated with the offer of one or more online courses or is it updated once the program is more than 50 percent online?

x - NOTABLE HEADLINES

"College students and families filing out the Free Application for Federal Student Aid (FAFSA) may find it’s less of a chore this year, thanks to a redesigned website and new mobile app that should make it easier for students and parents to collaborate," Credible reports.








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