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today’s news for Thursday, May 12, 2022

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CampusLogic. Students, staff and schools are ready for time savings in financial aid. Invest in financial aid processes that digitize, secure and optimize your student experience. This session shows how StudentForms supports staff and students from enrollment to graduation. Watch the session.

NEWS FROM NASFAA

In a book titled "Higher Education Administration for Social Justice and Equity," editors Adrianna Kezar and Julie Posselt compile scholarly work on how institutions can build a cohesive plan for promoting social justice and equity within their schools. "The well-researched contributions in this work are targeted toward those serving in higher education as administrators, faculty, or staff. It points to the problems inherent in higher education as they pertain to power structures and provides concrete examples of how to combat that traditional top-down distribution of power," writes Jessica Bracco, who read the book and shared her opinions of its content with NASFAA. What follows are her takeaways, thoughts, and reflections.

The top Republicans on Congress' education committees are pressing the Department of Education (ED) for answers, after a news outlet uncovered that student and parent data was being inadvertently shared with Facebook through the website students use to fill out their FAFSA. 

Interest rates are determined each June 1 for the upcoming award year by adding a fixed percentage to the high yield of the 10-year Treasury note auctioned at the final auction prior to June 1. As a result of yesterday's auction, the interest rate for federal loans first disbursed on or after July 1, 2022 are expected to increase from 3.73% to 4.99% for undergraduate Direct Loans, from 5.28% to 6.54% for graduate/professional Direct Unsubsidized Loans, and from 6.28% to 7.54% for Parent and Grad PLUS loans. The interest rate caps for these loans are 8.25%, 9.5 % and 10.5% respectively.

NASFAA UPDATES AND ANNOUNCEMENTS

More Self-Evaluation Checklists are available! The checklists are designed to allow schools to audit themselves for the 2021-22 award year. The following checklists are now live: Standards of Participation in the Title IV Programs, Campus-Based Programs Common Provisions, and Federal Perkins Loan Program. Other Self-Evaluation Checklists will become available just in time for the end of the award year on June 30. The Self-Evaluation Checklists module of the Compliance Engine is included with your NASFAA membership. Not sure how to use it? Check out our Self-Evaluation Checklists User Guide. Take advantage of this member benefit today!

Have you ever wondered if your colleagues ask the same regulatory questions you do? Maybe there's a question you've been thinking about, but have been too busy to ask? Chances are, it has already! On Wednesday, May 18, 2022 at 2:00 p.m. ET, NASFAA's David Futrell and Norma Robinson will review the top AskRegs questions NASFAA members have posed recently. In addition to providing answers, this session will review requirements related to these top issues and provide best practices when applicable. Register now.

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