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today’s news for Thursday, May 6, 2021

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NEWS FROM NASFAA

As Congress embarks on the annual appropriations process, the House Appropriations Labor, Health and Human Services, Education, and Related Agencies (Labor-H) Subcommittee heard testimony from Education Secretary Miguel Cardona, which touched on a number of higher education investments, as well as the department’s process for addressing the federal student loan repayment system. During Wednesday’s hearing, which was Cardona’s first as the confirmed leader of the Department of Education (ED), the conversation largely centered on President Joe Biden’s discretionary funding priorities, with $102.8 billion requested for ED — a $29.8 billion or 41% increase over the 2021 enacted level.

NASFAA UPDATES AND ANNOUNCEMENTS

AskRegs

No. NASFAA has confirmed with ED that Economic Impact Payments (also known as stimulus checks, stimulus payments, or recovery rebates) are neither taxable income nor untaxed income for Title IV purposes. They are also not estimated financial assistance (EFA). 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.

"1 in 5," a new podcast from Ascend at the Aspen Institute, produced in collaboration with award-winning podcast network Lantigua Williams & Co., explores the lives of student parents as they navigate school, work, parenting, and life amid the pandemic. Each episode profiles the story of one of the 1 in 5 college students who are parents, exploring such themes as the importance of postsecondary education, two-generation approaches, and the incredible drive of student parents to build a better life for their families. New episodes are released each Tuesday until May 25. Listen to the trailer and the first 12 episodes on Ascend's website, Apple Podcasts, Spotify, or wherever you listen.

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