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today’s news for Monday, May 16, 2022

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NEWS FROM NASFAA

All eyes are on the White House as officials contend with whether the president has the authority to unilaterally forgive any amount of student loan debt. While loan forgiveness would certainly provide welcome relief to struggling borrowers, it is an incomplete action without comprehensive policy solutions that will reform the broken student loan system that has led us to this point. In a report released today, NASFAA seeks to fill the gaps in the conversation by providing thoughtful, systemic, and targeted policy solutions to address underlying flaws in the student loan repayment and servicing systems that lead borrowers into financial hardship. In all, the report — which was funded by Arnold Ventures — outlines more than 30 recommendations to improve student loan servicing practices, rethink the terms and conditions of student loan repayment, increase institutional and program accountability, and reform student loan default.

NASFAA UPDATES AND ANNOUNCEMENTS

No. According to updated guidance NASFAA has received from the U.S. Department of Education (ED) and in Volume 1, Chapter 1 of the FSA Handbook, the school is only required to include the changed grade in its satisfactory academic progress (SAP) evaluation that is performed at the time of the next SAP evaluation period (or increment) defined under its published SAP policy — whether that is at the end of the payment period or at the end of the award year. View the full answer to this question to learn more.

Join your colleagues and Blue Icon Advisors this Thursday, May 19, for an interactive conversation to share ideas and experiences on preparing for and navigating a program review. There's no cost to attend, but registration is required — save your spot today! Be sure to check the full Let's Talk schedule to see what other sessions are coming soon.

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