today’s news for Wednesday, December 22, 2021

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As a part of a recently released report from the Department of Education’s (ED) Office of Inspector General (OIG), the internal watchdog identified concerns with school policies concerning professional judgment (PJ), indicating that institutions need to follow established institutional policies and that policies need to rely heavily on documentation to support the PJ decision made. The report found that schools “did not adequately document special circumstances” for more than 90% of the students in OIG’s random sample, the report read. “Because the school did not adequately document special circumstances, its application of professional judgment was not in accordance with the Higher Education Act of 1965, as amended.” NASFAA members are encouraged to use the Professional Judgment Monograph to construct their policies and procedures. Numerous examples of adequate documentation are also brought forward in this narrative.

A school has a group of students who have completed a module which encompasses 49 percent of the countable days in the term and, therefore, are exempt from having an R2T4 processed. Must these students receive exit counseling since they are considered to be completers? Think you know the answer? Read on to see if you got it right!

With student loan payments set to resume in February after a nearly two-year hiatus, a new survey found only a small portion of borrowers who had previously defaulted on a loan are prepared to make payments again. A national survey of more than 1,500 borrowers from The Pew Charitable Trusts found only 36% of borrowers with a past defaulted loan said they could afford their same monthly payment when repayments resume after the pause ends Jan. 31, 2022.


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!

Start the new year strong by earning the FAAC® designation! The next testing window opens in January. If your application has already been approved, purchase the certification knowledge exam and schedule your session online. If you haven't applied yet, complete your application online today. Learn more about the testing process and make sure you meet all of the technical requirements. Utilize the Exam Preparation Guide to aid your studies.




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