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today’s news for Monday, November 15, 2021

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NEWS FROM NASFAA

The Department of Education (ED) has issued the first round of loan forgiveness under the temporarily expanded Public Service Loan Forgiveness (PSLF) program made possible by a waiver issued last month, with about 10,000 borrowers receiving relief to date. Those borrowers have received roughly $715 million in student loan forgiveness through the temporary waiver. And an additional 20,000 borrowers are expected to receive an additional $1.2 billion in student loan forgiveness in the near future, an ED spokesperson told NASFAA. In total, over 30,000 borrowers will receive an estimated $2 billion in loan forgiveness as a result of the PSLF waiver.

NASFAA UPDATES AND ANNOUNCEMENTS

Congratulations to our first cohort of Return of Title IV Funds Specialists! The NASFAA U Specialist designation is reserved for those who can correctly apply the knowledge of the treatment of return of Title IV  concepts across a variety of challenging scenarios, each involving multiple facets to consider. This designation is very difficult to earn and represents in-depth knowledge. Several individuals have earned the title already. Interested in being a Return of Title IV Funds Specialist? Register for the next Return of Title IV Funds NASFAA U course, which starts January 10, 2022.

Under the American Rescue Plan (ARP), advance Child Tax Credit payments began being paid to eligible individuals beginning in July 2021. The recipient’s eligibility is based on 2019 and 2020 income reported on tax returns. For those who were not required to file a 2019 or 2020 tax return, the Internal Revenue Service (IRS) developed a new Child Tax Credit Non-filer Sign-up Tool to determine eligibility for the credit. View the full answer to this question to learn more.

We need your great ideas for engaging, relevant, and interesting conference sessions. All types of session proposals are welcome, from those focused on advocacy, training, and professional development, to sessions structured as open-forum discussions. We urge you to construct your session proposal with an eye toward inclusion, ensuring speakers from all different backgrounds — particularly those from marginalized groups — are represented. All proposals must be received by Friday, November 19, 2021. Visit our Presenters and Moderators page to submit a proposal.

New Director Group Coaching, provided by NASFAA's Blue Icon Advisors, is ideal for financial aid administrators with less than one year of experience at the director level. You'll work alongside a small group of other new financial aid directors as you discuss compliance-related matters, develop an operational calendar, learn about how to identify and support your staff's professional development needs, and draft a strategic plan to work toward and bolster the goals and activities of your office. The start date for the next six-week cohort is January 17, 2022. Register today to reserve your spot. 

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