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The Department of Education (ED) on Wednesday announced it will cancel the loans for 560,000 borrowers who attended any campus owned or operated by Corinthian Colleges, Inc. from its founding in 1995 until its closure in April 2015. In all, the discharge — which officials said is the largest single loan discharge in department history — would total $5.8 billion. Borrowers who have not yet applied for a borrower defense to repayment claim will also have their Corinthian loans discharged without needing to take additional action, per ED’s guidance.
With conversations starting on Capitol Hill about the fiscal year (FY) 2023 budget, NASFAA last week penned a letter to congressional appropriators urging increased funding for the Department of Education (ED) federal student aid programs. While the funding levels for FY 2022 were some of the largest increases in more than a decade for student aid programs, NASFAA reminded appropriators that there is still much work that can be done and the needs of students remain greater than ever. In the letter, NASFAA called for appropriators to double the maximum Pell Grant to $13,000 as well as increase discretionary funding for the Pell Grant program and increase funding for the Federal Work-Study (FWS) and Federal Supplemental Educational Opportunity Grant (FSEOG) programs.
Join NASFAA, the PSLF Coalition, and Equal Justice Works on June 7, 2022 at noon for a webinar highlighting the temporary Public Service Loan Forgiveness (PSLF) waivers that are in place until Oct. 31, 2022. This session will be geared specifically toward financial aid administrators. Please share the registration link with your colleagues.
What's the best way to prepare to take the Certified Financial Aid Administrator® (CFAA) Program Knowledge Exam? We recommend starting with the Candidate Handbook. View this on-demand webinar to explore how you can use the Candidate Handbook to your advantage. Hear from a panel of FAACs® who shared insights into why they pursued certification, how they prepared for the knowledge exam, what the testing experience was like, and how they have benefited from the designation. Begin your journey toward certification by tuning in for this complimentary webinar to learn more about the CFAA Program. Register now.