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today’s news for Thursday, August 19, 2021

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NEWS FROM NASFAA

In a recent letter to the Department of Education (ED) Rep. Bobby Scott (D-Va.), chairman of the House Committee on Education and Labor, called on the agency to use its authority to hold executives of failed for-profit colleges personally liable for money that the institution owes the federal government. According to a 2020 report as well as investigations led by Scott’s committee when fraudulent for-profit and converted for-profit schools have abruptly closed, college executives have escaped financial liability at the expense of students and taxpayers.

A school has begun processing return of Title IV funds (R2T4) calculations for students, but noticed a difference between the available R2T4 worksheets and the regulations. Has the order of the return of Title IV funds changed? Think you know the answer? Read on to see if you got it right!

NASFAA UPDATES AND ANNOUNCEMENTS

August is usually a slow month in Washington, D.C. as congressional offices empty for a month-long in-district recess, but currently the Senate is pressing forward on high profile spending bills that could push a number of higher education priorities to the forefront of floor debate. There are a number of specific policies that NASFAA is following throughout this process and we’ve flagged related terms in the Ref Desk for each. In addition, the Department of Education has announced its intent to begin regulating several topics covered in the Ref Desk. Check out this month's release notes for a look at some helpful, timely references in the Ref Desk and some of this month's newly added publications and resources.

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