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today’s news for Friday, November 5, 2021

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NEWS FROM NASFAA

The fourth day of the Department of Education’s (ED) second negotiated rulemaking session focused on borrower defense to repayment, with the entire morning portion discussing the topic at length by breaking down the issue paper into several subsections. Considering the importance of borrower defense as it relates to borrowers and student loans, negotiators discussed multiple subtopics at length, though they were unable to reach tentative agreement on ED’s regulatory text related to any of the subtopics covered during Thursday’s morning session.

​​The White House has reportedly had a long-awaited memo outlining its potential authority to forgive student loan debt for months, but has yet to publicly release the full memo despite calls from Democratic lawmakers to do so. The existence of the heavily redacted memo was first reported by the New Yorker late last week, and though the memo doesn’t contain much information regarding President Joe Biden’s executive authority to unilaterally wipe out student loan debt for millions of borrowers without legislation from Congress, it does show that the White House has had the memo for more than six months.

NASFAA UPDATES AND ANNOUNCEMENTS

Please join us in congratulating: Sean Sherwood, who was promoted from financial aid counselor to assistant director of financial aid at Binghamton University; Lara Trujillo-Barela, formerly the associate director of financial aid at St. John's College, who is now the financial aid director at Southwestern College; Jared Menghini, formerly the director of financial aid at King's College, who is now the executive director of student financial services at Wilkes University; and Dennis Moore, who was promoted from assistant director of client relations to associate director of financial aid operations and support at New York University. Celebrate your own career developments by completing the "Movers and Shakers" form to share the news with your colleagues.

U.S. DEPARTMENT OF EDUCATION

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INDUSTRY NEWS OF THE WEEK

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