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today’s news for Wednesday, May 20, 2020

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Inceptia. Students have plenty on their minds. Add the stress of repayment deadlines and it is the critical decision-making moments that are the difference between if, when, and how they take their next educational steps. Inceptia can extend your reach to reduce repayment concerns and melt with targeted plans to help deliver specific messages to current and prospective students.

NEWS FROM NASFAA

Private colleges and universities are offering more tuition discounts  than ever before — reaching a record high in 2019-20 as they responded to financial pressures arising even before the novel coronavirus outbreak, which “could prove to be the most titanic economic force to affect the higher education sector in decades,” according to an annual study by the National Association of College and University Business Officers (NACUBO) released today.

Feeling disconnected and unwelcomed, in need of family-friendly policies, and assistance in applying for available aid were just some of the primary concerns for student parents revealed in a report conducted by Generation Hope, a nonprofit focused on college completion and early childhood success. With nearly 1 in 5 college students nationwide being a parent, the survey, accompanied by a number of recommendations, aims to provide colleges and universities with guidance to help in increasing college completion rates of parenting students.

Congress Sends Resolution Overturning DeVos Borrower Defense Rule to Trump

Speaker of the House Nancy Pelosi (D-Calif.) on Tuesday sent a bipartisan resolution to President Donald Trump's desk that would block Education Secretary Betsy DeVos's borrower defense rule. The House in January passed a resolution under the Congressional Review Act (CRA) to halt implementation of the rules, and the Senate followed suit in March, with 10 Republicans voting in favor. The CRA allows Congress to pass such resolutions to prevent a federal agency from implementing a rule, with the full force of the law, and prevents the agency from issuing a similar rule without congressional authorization. "Proud to send [Rep. Susie Lee's (D-Nev.)] bipartisan resolution to the President’s desk and protect tens of thousands of defrauded students, many of whom are hurting now more than ever, by blocking DeVos’s harmful student borrower defense rule," Pelosi tweeted. It's unclear whether Trump will sign the measure. The White House in January released a statement saying advisors would recommend it be vetoed, but Trump in March said he had "sort of a neutral position."

Washington Attorney General Bob Ferguson announced on Tuesday that his office would challenge the Department of Education’s (ED) guidance on Coronavirus Aid, Relief & Economic Security (CARES) Act, that limited funds to Title IV-eligible students. Ferguson said the decision deprives thousands of Washington college students from receiving critical aid. “Betsy DeVos is unlawfully trying to deny Dreamers and other Washington students the assistance they need — and that Congress intended,” Ferguson said. The lawsuit asserts that ED’s decision is unlawful and a violation of the Administrative Procedure Act, as well as Article I of the U.S. Constitution, which gives exclusive “power of the purse” to Congress. The California Community Colleges system last week filed its own lawsuit against ED over the same guidance, alleging ED’s limitation of funds was arbitrary and capricious.

x - COVID-19 ASKREGS

AskRegs

This AskRegs Knowledgebase Q&A has been updated to reflect guidance in the May 15, 2020 Electronic Announcement that further defines the return of Title IV funds (R2T4) reporting requirements under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). 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.

AskRegs

No. Effective with publication of the June 17, 2020 Interim Final Rule, the student must be a Title IV-eligible student under Section 484 in Title IV of the Higher Education Act of 1965, as amended (HEA) [20 USC 1091(a)]; and be enrolled in a Title IV-eligible program at the institution. 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.

NASFAA UPDATES AND ANNOUNCEMENTS

NASFAA 2020 Summer Training Series

Income share agreements (ISAs) are an emerging alternative college funding option for students offered by both institutions and investor-backed financing groups. Join NASFAA President Justin Draeger and Policy analyst Jill Desjean on July 1 at 3:30 p.m. ET for a panel discussion sponsored by ScholarNet covering the basics of ISAs, the existing regulatory environment, emerging trends, and best practices in setting up and administering an ISA program. This webinar, part of NASFAA's 2020 Summer Training Series, also features Melissa Evans of the University of Utah, a senior aid administrator from an ISA early-adopter large university, who will provide additional real-world insights on current practices. Don't miss out on this training opportunity — view the schedule for the series and register with a one-time fee for anyone listed on your NASFAA roster.

Prior to the COVID-19 outbreak, 4.2 million youth and young adults experienced homelessness on their own each year, with similar rates of prevalence in rural, suburban and urban areas. The COVID-19 outbreak and resulting economic crisis have pushed more youth into homelessness, and at the same time, exacerbated the challenges of youth who were homeless prior to the outbreak. Yet higher education remains their best long-term opportunity for economic independence, health, stability, and wellbeing. Together, NASFAA and SchoolHouse Connections developed a resource outlining relatively simple ways that financial aid administrators can help to remove barriers for these vulnerable students.

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The best preparation is your on-the-job experience in Title IV aid administration — ideally, combined with some formal training. To prepare for this exam, use a two-part strategy: know what to expect, and review what you know. Learn more about the testing process and the testing requirements. Identify a quiet, private place where you can take the exam comfortably, and test your setup well before your scheduled exam session. Next, evaluate the Exam Content Outline in the handbook. Focus your review on content areas where you feel less confident, using the Core Resources List in the handbook. For more tips, read this article and register for this free, on-demand webinar to hear from your peers about how they prepared for the exam, what the testing experience was like, and why they believe this designation is worth it.

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