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today’s news for Monday, February 22, 2021

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NEWS FROM NASFAA

The Pell Grant program is in danger of running out of money in the next five years, and could face a deficit of roughly $18 billion by 2031, according to a report from the Committee for a Responsible Federal Budget. The Pell Grant reserve fund swells when appropriations by Congress to the federal aid program exceed the costs of the program. The reserve exists to ensure students receive funding should the program face a funding shortfall, as it did during the Great Recession. 

NASFAA UPDATES AND ANNOUNCEMENTS

AskRegs

Yes. It is allowable, but only in the following circumstances: the student switched living arrangements between his or her parents from one year to the next before filing the upcoming award year FAFSA; or if correcting an error when the wrong parent was reported on the FAFSA. 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's Board of Directors is here to represent you and is seeking your input. Please email any questions or comments you might have directly to a member of the NASFAA Board by clicking on their name on our Board Member Bios page. Questions or feedback may pertain to NASFAA products and services, membership benefits, policy/advocacy issues, or any other topic you would like to bring before the Board. The Board will compile and discuss at the March 22-23 virtual Board meeting. We welcome your insight.

Blue Icon

Admit it: Policies & procedures (P&Ps) are always on your mind. What do I write? Who needs to be involved? When will I find time? How can I organize it all? But they are also one of the hardest projects to start, organize, and maintain. Join Blue Icon Advisors on March 30 to hear some lessons learned through the P&P projects we've tackled in the last year. Register today!

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