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today’s news for Wednesday, May 19, 2021

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NEWS FROM NASFAA

Federal Student Aid (FSA) announced new loan originations fees Tuesday, with no change in the origination fees for Direct Loans (DL) from the previous award year. The 1.057% fee for both Direct Subsidized and Unsubsidized Loans is the same as the previous award year, and the origination fee for Parent and Grad PLUS loans remains unchanged at 4.228% for fiscal year 2022. Origination fees are adjusted annually due to sequestration. FSA noted that institutions can now begin submitting DL origination records to the Common Origination and Disbursement system where the first disbursement will be on or after Oct. 1, 2021, using the loan fees detailed in this announcement.

NASFAA UPDATES AND ANNOUNCEMENTS

Yes. According to the U.S. Department of Education's (ED's) Final Rule, any individual who is or was enrolled at an eligible institution on or after March 13, 2020 is now eligible for HEERF I, HEERF II, and HEERF III student grants. 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.

This AskRegs Knowledgebase Q&A was updated on May 18, 2021 to include guidance in the May 11, 2021 Higher Education Emergency Relief Fund (HEERF) III Frequently Asked Questions and the May 14, 2021 Final Rule as it relates to HEERF II student grants under the 2021 Coronavirus Response and Relief Supplemental Appropriations Act (CRRSAA, Section 314 of the Consolidated Appropriations Act, 2021) and HEERF III grants under the American Rescue Plan Act of 2021. 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.

This four-week interactive online course, beginning July 6, will focus on the fundamentals of financial aid including applying financial aid concepts, categories and types of financial aid, the Title IV aid programs, other federal sources of student assistance, and comparing financial aid offers. Fundamentals of Student Financial Aid is the perfect learning tool for new financial aid professionals, and individuals who assist students through the financial aid cycle, such as admissions or enrollment representatives, and high school counselors. Upon passing the course, you will receive a NASFAA U Certificate. Register now.

Ready to get certified? The last testing window of 2021-22 will be open from June 2-16, 2021. If your application has already been approved, purchase the certification knowledge exam and schedule your session online. 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. Utilize the Exam Preparation Guide to aid your studies.

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