today’s news for Tuesday, May 25, 2021

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As the Department of Education (ED) prepares to transition millions of student loan borrowers back into repayment when the federal forbearance period comes to an end in the fall, several Democratic senators are asking the department’s leadership how it plans to do so smoothly. In a letter to Education Secretary Miguel Cardona, Sen. Elizabeth Warren (D-Mass.) and three other Senate Democrats called on the department to detail its plan to resume monthly payments for more than 40 million borrowers in October and whether it plans to extend the existing federal contracts with student loan servicers.

Richard Davis, Jr.

"It is with great honor and enthusiasm that I introduce myself as NASFAA's 2021 Dallas Martin Endowment Policy Intern. I know I'm not alone in saying that the past year has been a rollercoaster. With that being said, I would like to sincerely thank the supporters of the endowment and the NASFAA team for making this internship opportunity possible," Richard Davis, Jr. write. "While we are still dealing with the challenges of the COVID-19 pandemic, I am truly grateful for the chance to virtually intern with such an esteemed association that is committed to opening doors of educational opportunity for all." Read on to learn more about Richard, and join us in welcoming him to the NASFAA community this summer!

With the release of the long awaited reporting requirements for Higher Education Emergency Relief Fund (HEERF) II and III grants, NASFAA has updated its reporting timeline to reflect the new information. The due date for the annual report for HEERF II and III funds is still outstanding and will be updated as soon as the Department of Education releases that guidance. The updated one-pager can be found under the resources section on NASFAA's COVID-19 Web Center.


Yes. According to the May 14, 2021 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. According to the above-referenced HEERF III FAQs and the final rule, this includes international students. 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.

Yes, the school must maintain any drawn down HEERF I, HEERF II or HEERF III funds in an interest-bearing account. Remember that the school should only be drawing down HEERF I, HEERF II, or HEERF III grants as the school has immediate needs to obligate those funds to students or to pay institutional costs. 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.

As the 2020-21 year comes to a close, we'd like to recognize all the important people who served the association this year. Our members are the lifeblood of our organization and we truly appreciate all the time, effort, thought, and energy all of our volunteer task force members have put in over the past year. Read on for the full list of 2020-21 task forces and their members and join us in thanking them for their service.

NASFAA has recorded several webinars providing training for new financial aid officers and refreshers for more experienced aid officers. Access to the 90-minute recordings is complementary to NASFAA members through June 30, 2021. In these sessions, you'll cover how to find answers to regulatory questions, student eligibility, verification, and more. You can access the webinars by visiting the New Aid Officer Training Webinars page.




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