NASFAA
TODAY'S NEWS

today’s news for Thursday, November 19, 2020

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NEWS FROM NASFAA

As the Department of Education (ED), under Secretary Betsy DeVos, has chipped away at Obama-era policies and regulations intended to protect borrowers defrauded by institutions they attended, it has faced frequent lawsuits, many coming from state attorneys general (AGs) seeking to protect their residents. From those that have taken issue with ED’s attempts to limit funds from the federal coronavirus relief package to only Title IV-eligible students to those that have objected to ED’s slowdown of loan forgiveness processing for borrowers subjected to fraud by their colleges, DeVos and the department have spent the better part of four years fending off lawsuits.

Federal Student Aid (FSA) and its loan servicers will face a significant burden in attempting to convert millions of borrowers back into repayment all at the same time once the automatic forbearance period comes to a close at the end of the year, according to FSA’s annual report. As the borrowers are converted to repayment, “a certain portion” of them will become delinquent initially, FSA noted in the report. Borrowers have already begun receiving text and email notifications letting them know that their monthly payments will resume in January.

NASFAA UPDATES AND ANNOUNCEMENTS

NASFAA Announces No Dues Increase for FY 2021-22

During this unprecedented time of constrained institutional budgets and enrollment disruptions, NASFAA's Board of Directors remains committed to keeping dues as low as possible to ensure schools have access to the training and support they need to remain in compliance and best serve their students. The Board has announced that institutional membership dues will remain unchanged for the coming fiscal year, with a base fee of $840 and an FTE multiplier of .095. The price of Value, Plus, and Webinar packages will also remain steady. The Policies & Procedures Builder module of NASFAA's Compliance Engine will continue to be included in the Value Plus package; Standard and Value members may add the P&P Builder to their 2021-22 membership for $99 per year, per institution.

Take the Mic

Have you looked at NASFAA's events calendar recently? Throughout the month of December, NASFAA Vice President of Policy & Federal Relations Megan Coval will make virtual appearances at the NJASFAA Government Relations Committee Symposium, the Texas Higher Education Coordinating Board's meeting, and an event hosted by CAPFAA. In January, NASFAA President Justin Draeger will present at ISFAA's (Indiana) Annual Conference, and he and Director of Policy Analysis Karen McCarthy will present at PNPI's Need Analysis Boot Camp. Head to the Events Calendar to get all the details on these and other upcoming events. 

U.S. DEPARTMENT OF EDUCATION

In this announcement, the Department of Education reminds schools of the general disbursement reporting, excess cash, and reconciliation requirements for all Title IV programs. Because these requirements apply to disbursement and financial data, both the Financial Aid Office and Business Office should review the information provided below.

FEDERAL REGISTER

This information collection request annually solicits performance and related information from the states and outlying areas that receive adult education state grant funds under the Adult Education and Family Literacy Act (AEFLA). The data are used to ensure that states and outlying areas meet the performance accountability requirements of AEFLA. 

NOTABLE HEADLINES

INDUSTRY NEWS

NASFAA TRAINING

NASFAA CAREER CENTER


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