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today’s news for Thursday, December 23, 2021

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NEWS FROM NASFAA

NASFAA is excited to share a beta version of its Student Aid Index (SAI) modeling tool. Designed to help institutions prepare for changes to the Federal Methodology formula in the 2024-25 award year, the tool can be downloaded from NASFAA's website, after which institutions can import their student FAFSA data to estimate SAIs for their student population, as well as compare estimated SAIs to expected family contributions (EFCs).

Borrowers expecting to resume making payments on their student loans will see another reprieve as the Department of Education (ED) today announced another extension of the payment pause for federally-held student loans through May 1. The announcement comes after months of pressure from Democratic lawmakers and student loan advocates who warned resuming payments after the pause expires on Jan. 31, 2022 would leave millions of borrowers struggling as the pandemic continues. 

President Joe Biden’s Build Back Better agenda will face an incredibly challenging path forward in the new year along with key higher education investments that may no longer have a route to enactment under the current legislative landscape. Following the announcement from Sen. Joe Manchin (D-W.V.) that he could not vote in favor of the Build Back Better Act, the course of action on a large-scale reconciliation package remains fraught with challenges.

NASFAA UPDATES AND ANNOUNCEMENTS

NASFAA's Today's News will not be sent and technical and membership support will not be available between Friday, December 24- Sunday, January 2. If you need help in the interim, NASFAA's AskRegs Knowledgebase houses a library of questions and responses so you can find immediate answers to your pressing questions; responses to new and ongoing submitted questions will resume when NASFAA offices reopen on Monday, January 3. During the break, check out our 2021 Year in Review recaps for a look at all that NASFAA and its members around the country accomplished this year, despite more than a few challenges. We hope you have the happiest of holidays and wish you a great start to the new year!

Don't miss your chance to join us February 14-16 in Washington, D.C. for NASFAA's 2022 Leadership & Legislative Conference & Expo. Multiple pathways — including Association Management, Strategic Enrollment Managaement, and Succession Planning — are beginning to fill up. If you hold the FAAC® designation, be sure to check out the brand-new FAAC Forum. Learn more about the conference and the safety measures being taken, and register today to reserve your spot.

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!

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