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today’s news for Monday, June 21, 2021

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NEWS FROM NASFAA

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The NASFAA 2021 Virtual Conference starts today with a training session on working to eliminate bias in student aid administration and a NASFAA U course on Return of Title IV Funds. If your institution is registered for the conference, keep your eyes peeled this morning for an email from NASFAA with some quick tips and reminders to help you make the most out of the conference. Whether you're registered or not, we encourage you to join the conversation on social media this week using #NASFAA2021, listen to our specially curated NASFAA 2021 Playlist for some fun tunes to get your week off to a great start, and learn more about each of our 2021 exhibitors in their interactive, virtual exhibit booths.

The Department of Education’s (ED) Office of Inspector General (OIG) recently conducted a review of how Federal Student Aid (FSA) implemented the suspension of involuntary collection of federally held student loans in response to the pandemic, concluding that the agency was mostly successful in carrying out the benefit. The payment suspension was first implemented at the outset of the coronavirus outbreak as a part of executive action and the Coronavirus Aid, Relief & Economic Security (CARES) Act, with OIG determining that FSA acted swiftly in administering their aid.

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NASFAA UPDATES AND ANNOUNCEMENTS

NASFAA seeks to provide exceptional professional support and development to build an engaged and diverse community through accurate information sharing. As a membership association, NASFAA relies on the dues of its members to support its training initiatives, research and advocacy efforts, and myriad other projects. If your organization or institution has not yet submitted its dues payment, you may pay online to ensure continued access to NASFAA’s many tools and resources. Need a refresher on all your membership with NASFAA includes? Refer to the Renew or Manage Membership page for a list of benefits, as well as a customizable justification letter to let your institution's leadership know how important your NASFAA membership is. Please direct questions to [email protected] or (202) 785-0453 ext. 1.

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The following guidance applies only to the return of Title IV funds (R2T4) rules that are effective July 1, 2021 (with possible early implementation by the school), in accordance with the September 2, 2020 Federal Register. The same guidance applies to fall, winter, spring, and summer standard or nonstandard terms that contain modules. Nonterm and clock-hour programs do not contain modules by definition. 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.

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