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today’s news for Monday, September 20, 2021

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NEWS FROM NASFAA

Undergraduates who received some form of financial aid were given an average of $13,000, with about 70% of all undergraduates receiving some type of financial aid, according to a new report. The 2017–18 National Postsecondary Student Aid Study, released this week by the National Center for Education Statistics (NCES), provides a comprehensive look at how students finance their postsecondary education and shows the prevalence of federal financial aid.

NASFAA UPDATES AND ANNOUNCEMENTS

Each year the Department of Education (ED) publishes cohort default rates (CDRs) based on the percentage of a lender's or guarantor's student borrowers who enter repayment on federal Direct Loans between October 1–September 30 of a given year and default before the end of the subsequent fiscal year (FY). The official CDRs for FY 2018 are expected to be published Sept. 27, 2021. Head to the Student Aid Reference Desk to learn more about CDRs. There you'll find statutory authority, links to the related regulations, ED references, and links to nearly 30 publications, articles and other resources from a wide range of associations, think tanks, and scholars.

NASFAA's Blue Icon Advisors hosts Let's Talk events to give you the opportunity to engage with peers, learn from presenters and each other, share information, and discuss best practices. Join us at either 11:00 a.m. or 2:00 p.m. ET on Thursday, September 23 to share your financial literacy ideas and learn what your colleagues are doing with their financial wellness programs, including how they're supporting alumni as they begin loan repayment. There is no cost to attend, but registration is required.

No. NASFAA has received confirmation from the U.S. Department of Education (ED) that, in this scenario, all the days in the payment period or period of enrollment (the period) would be included as “countable days” when determining a student’s eligibility for the 49% R2T4 exemption (or withdrawal exemption). View the full answer to this question to learn more.

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