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today’s news for Tuesday, October 12, 2021

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NEWS FROM NASFAA

In their fifth day of the Department of Education’s (ED) negotiated rulemaking session, committee members completed their preliminary discussion on proposed issue papers under consideration for the week with the final day’s agenda working through income-driven repayment (IDR) plans, false certification discharge, and Pell Grant eligibility.

The Department of Education (ED) on Friday announced that it would be restoring the Office of Enforcement. Housed under Federal Student Aid (FSA), the office will aim to strengthen oversight of and enforcement actions against postsecondary schools that participate in the federal student loan, grant, and work-study programs. The recent announcement restores an office that was first established in 2016, but deprioritized in the previous administration. According to ED, the Enforcement Office will proactively identify and address major problems across institutions that pose widespread risks to students and taxpayers.

NASFAA UPDATES AND ANNOUNCEMENTS

Celebrated each year on the third Wednesday in October, Financial Aid Day (FAD) is a special day set aside to celebrate and recognize the contribution of all financial aid professionals across the United States for helping students make their college-going dreams a reality. On FAD colleagues are encouraged to do something special—have an office party, a potluck, a toast, etc.—to celebrate financial aid administrators' contributions to the profession. What is your office doing to celebrate the occasion? Send your stories and pictures to [email protected] or share them on our Facebook page.

What information will your students need to complete the FAFSA for the upcoming school year? Will there be changes for the 2022-23 application and processing cycle? Join NASFAA's Lissa Powell and Jackie Cottom to review key aspects of the application process, discuss updates to the FAFSA application, and consider answers to frequently asked questions. They will also take a brief look at the tables used to calculate the expected family contribution (EFC) of applicants. Register now for this webinar sponsored by Discover® Student Loans

This AskRegs Q&A has been updated to include October 6, 2021 changes the U.S. Department of Education (ED) made to implementation of the no return of Title IV funds (R2T4) Freeze Date option for schools with modules. Refer to SD-Q2/A2 on the Program Integrity Questions and Answers—Return of Title IV Funds website. The school has two options to determine the number of days the student was scheduled to complete in the payment period or period of enrollment (the period) that contains modules--that is the denominator in the R2T4 calculation for determining the percentage of earned and unearned aid (60% calculation). View the full answer to this question to learn more.

Pomona College hired Blue Icon Advisors to serve in a remote interim director capacity for 10 months. “The consultants not only just kept the office together, but made improvements to move the office forward.” If you need an interim leader to improve operations, or just to keep processes on track, contact Blue Icon today

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