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Estimated losses on the federal government’s student loan portfolio have been raised by $53 billion, per an analysis by the Biden administration, taking last year's projected deficit from $15 billion to $68 billion in long-term losses. The new estimate, first reported by the Wall Street Journal, follows an initial report that contained an analysis detailing more than $500 billion in losses to the portfolio, prompting inquiries from Republican members of congress. The Department of Education (ED) ultimately dismissed that report, which was requested during former Education Secretary Betsy DeVos’ tenure, saying the analysis did not meet departmental standards.
Join NASFAA's Joe Massman tomorrow, June 9, at 2:00 p.m. ET for a Q&A-style webinar that will test your knowledge on topics related to student eligibility. He will answer questions such as: Is there a limit to how long a conditionally admitted student can receive Title IV funds while awaiting academic transcripts? How should Title IV aid be processed when a student regains eligibility in the middle of a term? If a student is flagged on a subsequent transaction for unusual enrollment history, does Title IV aid disbursed on the previous transaction have to be returned? Register now.
Please join us in giving NASFAA's newest members — Circle in the Square Theatre School; Connecticut State Community Colleges; and Miami Valley Career Technology Center — a warm welcome. This month we also have the pleasure of welcoming back the following members: Atlantic Technical College; Kilgore College; Mendocino College; Northeastern Oklahoma A&M College; Palm Beach Atlantic University; Spoon River College; and The Interdenominational Theological Center. We are glad to have all of you as NASFAA members!
Created as part of NASFAA U's Fundamentals of Student Financial Aid online course curriculum, NASFAA recently published a video that covers the steps a student must go through to complete and submit a FAFSA through the myStudentAid mobile app. We encourage you to share this video with prospective and current college students who need help applying for federal financial aid, to link to it from your financial aid website, and to incorporate it into future financial aid night presentations.