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today’s news for Wednesday, November 17, 2021

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NEWS FROM NASFAA

The student loan debt landscape is disparate and varied, and no one figure or data point can tell the full story of how Americans with bachelor’s degrees are faring with their student loan debt once they graduate. In an attempt to paint a picture of the state of student loan debt in the country, the Institute for College Access and Success (TICAS) released its sixteenth annual report detailing the average debt for the class of 2020. 

A major student loan servicer has announced that it has struck a short-term agreement with the Department of Education (ED) in an effort to create a “smooth transition” for borrowers who will need to have their accounts reassigned. The Pennsylvania Higher Education Assistance Agency (PHEAA), which services borrowers in the Public Service Loan Forgiveness (PSLF) program, recently announced that instead of fully exiting its servicing contract, it would instead extend its partnership with Federal Student Aid (FSA) through December 2022 as a way of providing an orderly and timely transfer of borrowers to successor servicers.

NASFAA UPDATES AND ANNOUNCEMENTS

NASFAA Announces No Dues Increase for 2022-23

NASFAA's Board of Directors are committed to ensuring the organization is operating at peak performance to meet institutional needs, while simultaneously keeping dues as low as possible. With record-level member renewals and retention, and with a commitment to keep NASFAA as accessible as possible as we navigate and hopefully emerge from the pandemic, the Board has announced that institutional membership dues will remain unchanged in the coming year. The base fee for membership in 2022-23 will be $840 with an FTE multiplier of .095. The price of Value, Value Plus, and Webinar packages will also remain steady. The Policies & Procedures (P&P) Builder module of NASFAA's Compliance Engine will continue to be included in the Value Plus package; Standard and Value members may add the P&P Builder to their 2022-23 membership for $99 per year, per institution. Membership dues are announced early to give schools sufficient time to plan accordingly.

November saw four terms that weren’t on last month’s list of most viewed Student Aid Reference Desk terms rise to the top, including Student Eligibility, Perkins Loan Program, Expected Family Contribution (EFC), and Institutional Eligibility. Direct Loans continues to hold its top spot as the most viewed term in the Ref Desk, and R2T4, ​​Program Participation Agreement (PPA), and Verification all made a reappearance. 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.

Every year, NASFAA recognizes outstanding members and other higher education stakeholders for their achievements and contributions to financial aid, students, and/or NASFAA. Nominate your colleagues for awards such as the Gold Star Award, the Robert P. Huff Golden Quill Award, and the Allan W. Purdy Distinguished Service Award, among others. Award winners will be announced this summer at the NASFAA 2022 national conference in Austin, Texas. Nominations are due Feb. 11, 2022 — submit yours today!

This online course begins January 11, 2022, and will focus on the fundamentals of financial aid including applying, financial aid concepts, categories and types of financial aid, the Title IV aid programs, other federal sources of student assistance, and comparing financial aid offers. Fundamentals of Student Financial Aid is the perfect learning tool for new financial aid professionals, and individuals who assist students through the financial aid cycle such as admissions or enrollment representatives, and high school counselors. Upon passing the course, you will receive a NASFAA U Certificate. Register now.

U.S. DEPARTMENT OF EDUCATION

NASFAA TRAINING

NASFAA CAREER CENTER


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