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today’s news for Monday, May 3, 2021

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NEWS FROM NASFAA

Ahead of Miguel Cardona’s first congressional hearing as Secretary of the Department of Education (ED), a pair of Republican House leaders are alleging the department is burying a report showing decades of federal miscalculations in student loans program profits. In a letter spearheaded by Reps. Virginia Foxx (R-N.C.) and Mike Bost (R-Ill), ranking members of the House Education and Labor and Veterans Affairs committees, the members seek answers to a reported “hundreds of billions of dollars wide gap between what the executive branch says student loans are worth and the real value of those loans.”

The Federal Communications Commission (FCC) has announced a May 12 start date for its Emergency Broadband Benefit Program that aims to provide subsidies for students struggling to pay for internet amid the pandemic. The program, first established in February, will allow eligible households — which include those with a Pell Grant recipient or that have experienced significant income loss since February 2020 — to receive substantially subsidized broadband service ($50 monthly subsidy for most, $75 monthly subsidy for those on tribal lands) and devices ($100 one-time subsidy for a device). The agency is urging students to familiarize themselves with the registration process so that, come May 12, they’ll be able to enroll and work through the FCC verification process as soon as the program is live.

NASFAA UPDATES AND ANNOUNCEMENTS

AskRegs

Yes. It depends on the school's policy for early implementation and the date you set for implementation of the R2T4 Final Rules for modules in the Sept. 2, 2020 Federal Register. 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.

Student Aid Reference Desk

Keeping up with ever-changing Title IV regulations is no easy feat, but the Student Aid Reference Desk can help. It's your one-stop shop to find what you need, when you need it. It's got lots of great features like trending topics, so you can quickly see what other users have searched for recently, and suggested Topics help you easily spot terms NASFAA staff have flagged as timely or that have had new resources added. Best of all, it's nonpartisan, easy to search or browse, and free to use. Head to the Ref Desk to find what you need — fast.

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