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today’s news for Tuesday, January 25, 2022

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Inceptia. While the CARES Act has provided great relief for borrowers, two+ years of paused payments can mean out of sight out of mind for your students! Help them reengage with Loan Summary – Inceptia's debt letter and student portal service that provides a one-stop solution for tracking and managing ALL loans. Learn more at Inceptia.org.

NEWS FROM NASFAA

There’s no shortage of work in a financial aid office. Just ask Mary Sommers, the director of financial aid at the University of Nebraska at Kearney, who has worked in the field for more than 30 years. Between her professional career and personal life, Sommers manages to find time to contract with Blue Icon Advisors as an independent consultant. She works with financial aid offices across the country helping them meet a variety of needs, a role she says she enjoys due to the flexibility and being able to help aid offices — and by extension help students.

Recently unveiled legislation from Rep. Nikema Williams (D-Ga.) is seeking to remove adverse credit implications for student loan borrowers who successfully complete the loan rehabilitation process. The legislation, which NASFAA has endorsed, specifically looks to amend the default reduction program by removing any adverse item of information relating to such loan from the borrower’s credit history. NASFAA, in June of 2021 kicked off an 18-month-long grant-funded project in which it will develop thoughtful, targeted policy solutions to treat the causes of student loan repayment issues, including the default system, and will release a white paper this spring.

NASFAA UPDATES AND ANNOUNCEMENTS

Norma Robinson

Please join us in welcoming Norma Robinson as a Regulatory Specialist within NASFAA's Training and Regulatory Assistance team. She will telework from Hollywood, Florida, where she has been at Barry University in Miami Shores, Florida for more than 10 years, most recently as senior associate director of financial aid. Norma has been a practicing financial aid administrator for over 16 years and brings considerable expertise in areas like Direct Loans, Federal Work-Study, satisfactory academic progress, and cost of attendance. She also brings her experience in creating staff training materials and policies and procedures, as well as training on regulatory issues, policies and procedures, and departmental technology usage. Of particular note is her experience in community college and graduate/professional student aid. Norma is part of the NASFAA Credential Earners Honor Roll, earning 11 professional credentials through NASFAA U. We are thrilled to have Norma join the NASFAA staff!

A school must report foreign gift and foreign contract information by January 31 or July 31 (whichever is sooner) after the date of receipt of the gift, date of the contract, or date of ownership or control. The January 31 report should cover foreign gifts received or contracts created during the period of July 1 through December 31 of the previous year. The July 31 report should cover foreign gifts received or contracts created during the period of January 1 through June 30 of the same year. Please see Volume 2, Chapter 6 of the FSA Handbook. View the full answer to this question to learn more.

As an increased security measure, the IRS has implemented the ID.me process for individuals to register on the IRS website for IRS services such as obtaining tax transcripts using the Get Transcript Online service. Starting in summer 2022, the ID.me process will require a photo of an identity document such as a driver's license, state ID, passport, or passport card. It will also require a selfie with a smartphone or a computer with a webcam. This will limit access to the Get Transcript Online service for students without such forms of ID or smartphone/webcam access. View the full answer to this question to learn more.

Youth who experience homelessness face unique barriers to accessing and completing higher education, including barriers to financial aid. Join tomorrow's webinar at 2:00 p.m. ET to review the federal definition of homelessness, and the causes and consequences of homelessness among unaccompanied youth; review current federal policies designed to remove barriers to financial aid; preview changes to federal financial aid policy for homeless youth made by the FAFSA Simplification Act; and learn practical strategies from higher education professionals, including financial aid administrators, for implementing these policies and supporting homeless youth. Register today for this webinar, sponsored by Edquity.

U.S. DEPARTMENT OF EDUCATION

NASFAA TRAINING

NASFAA CAREER CENTER


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