Brought to you by:

ELM Resources. From our family to yours, we send a warm Happy Holidays greeting your way! And, ELM's Season of Thanks continues this month with a celebration of our recent survey results. We are so honored and proud of the trust you place in us each day. Your needs are our focus. Contact us to learn more about how we can help you. Visit www.elmresources.com or contact us at [email protected].

Black student loan borrowers are nearly twice as likely to never be able to pay off their debt because they are not keeping up with their payments and their balances are increasing, according to projections in a new study. By comparison, about 7% of white borrowers and approximately 8% of Hispanic borrowers were projected to never be able to repay their loans. The study by the JPMorgan Chase Institute used non-identified data from 301,583 borrowers with a Chase checking account, as well as data from the Experian credit agency, finding 13% of Black borrowers will likely never repay their student loan debt.

Ready to become certified? You still have time to take the Certified Financial Aid Administrator® Knowledge Exam during the current testing window, which is open now through Wednesday, October 21, 2020. If your application is already approved, your next step is to purchase the exam and schedule your session online. The next available testing window isn't until December, so be careful not to let your one-year eligibility period expire! Check your personal certification dashboard to confirm that date. If you haven't applied yet, complete your application online today. Learn more about the testing process and make sure you meet all of the technical requirements.

Like time and tide, a new FAFSA processing cycle waits for no one. Blue Icon Advisors is hosting sector-based discussions on October 22 to talk about planning for application support and student services for the 2021-22 academic year. Blue Icon's "Let's Talk" sessions give you the opportunity to engage with peers, learn from presenters and each other, share information, and discuss best practices. Register today!

Please join us in giving NASFAA's newest members — Advantage Technical College, Mid-America Technology Center, Northern Pennsylvania Regional College, Pinnacle Institute of Cosmetology, and Prism Career Institute — a warm welcome. This month we also have the pleasure of welcoming back the following members: Bay State College, Commonwealth Technical Institute, Cuyahoga Valley Career Center, and Jose Maria Vargas University. We are glad to have all of you as NASFAA members!

In today's challenging economic environment, monetary considerations are even more prevalent, and institutions need to prioritize awarding timely and accurate financial aid offers to incoming and returning students to drive enrollment decisions and student persistence rates. Using technology to enable data-driven strategies can help institutions achieve their enrollment and retention goals. Join in for a webinar tomorrow, October 15 at 1:00 p.m. ET to discover how innovative solutions can also empower students to understand their financial aid options and make the best decisions for their educational journey and long-term financial status. This 60-minute webinar, sponsored by Jenzabar, is free to NASFAA members, but you must register in advance.

In accordance with the Paperwork Reduction Act of 1995, ED is proposing an extension, through November 13, without change to a currently approved collection. Section 18004(a)(3) of the CARES Act authorizes the Secretary to allocate funds for part B of Title VII of the HEA, for institutions of higher education that the Secretary determines have the greatest unmet needs related to coronavirus. This collection includes a budget and expenditure reporting form for institutions potentially eligible for funds under this section.

ED announced the draft of our Fiscal Year 2020–24 Strategic Plan is now available for your review and feedback on StudentAid.gov.

VIEW NEXT ISSUE

Contact us to submit questions, content or to purchase advertisements.