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As policymakers mull another extension to the pause on student loan payments and interest accrual, and many borrowers are already struggling with the currently available repayment options, congressional leaders are now offering more proposals aimed at simplifying the repayment process. The latest legislation, citing the $1.6 trillion in student loan debt held by borrowers, comes from House Appropriations Chairwoman Rosa DeLauro (D-Conn.), who along with a group of bicameral Democrats seeks to simplify the repayment process by creating only two repayment options for loans entering repayment after July 1, 2022: one fixed, 10-year repayment plan, and one income-based repayment plan.
NASFAA is pleased to announce that Richard Cordray, Federal Student Aid's (FSA) Chief Operating Officer, will be speaking at the 2022 National Conference in Austin, Texas this June. During the general session, Cordray will bring his perspective on federal student aid programs as well as an update on the initiatives FSA is pursuing, ahead of the Department of Education's Federal Update presentation. The conversation will also focus on Cordray’s work in leading FSA through the transition of millions of student loan borrowers to new servicers, an overhaul of the Public Service Loan Forgiveness program, and the continued overhaul of the student loan servicing system. Register today for NASFAA 2022 in Austin — we hope to see you there!
In its commitment to the graduate and professional community, NASFAA held a town hall webinar as a forum for graduate and professional financial aid administrators to discuss current issues of concern for their students and peers, and address audience questions. The town hall webinar is now available on-demand — view it today.