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today’s news for Thursday, March 3, 2022

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NEWS FROM NASFAA

The House Education and Labor Committee convened a subcommittee hearing on Wednesday to discuss investments needed for both Hispanic-serving institutions (HSIs) and minority-serving institutions (MSIs) that will best enable these institutions to serve their students. The conversation by members of the Higher Education and Workforce Investment Subcommittee followed President Joe Biden’s State of the Union address on Tuesday night, and served as a part of a series of hearings held by the committee to explore the needs of underserved students.

On the heels of the Consumer Financial Protection Bureau (CFPB) announcing it had reached a first-of-its-kind settlement with an income-share agreement (ISAs) provider over alleged misleading practices, the Office of Federal Student Aid (FSA) posted guidance this week clarifying that it views ISAs as private student loans. In guidance issued Wednesday, FSA made clear that ISAs used to finance a student’s postsecondary education are considered private education loans under the Truth in Lending Act.

With payments for borrowers with federal student loans set to resume in May after a more than two-year pause, defaults on those loans could spike, according to a new analysis. The Federal Reserve Bank of St. Louis in a memo released this week projected default rates could return to their pre-pandemic levels once payments restart.

NASFAA UPDATES AND ANNOUNCEMENTS

NASFAA is seeking a highly motivated, self-starter to join its team as a part-time Administrative Assistant to provide basic administrative support for the national office and more specifically to the Director of Strategy, Planning, and Administration, President & CEO, and Executive Vice President. The successful candidate will understand and be comfortable working in a mission-driven organization where individual and departmental goals must align with strategic priorities; have demonstrated their ability to work successfully in a team-based environment where "the whole" is more important than any one individual; and be comfortable with team-based accountability, departmental reporting and paying attention to results. Interested applicants should apply online March 14, 2022, for full consideration.

U.S. DEPARTMENT OF EDUCATION

NASFAA TRAINING

NASFAA CAREER CENTER


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