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today’s news for Thursday, August 25, 2022

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Attigo® by Ascendium®: The Public Service Loan Forgiveness (PSLF) limited-time waiver, has made PSLF more accessible. Most postsecondary schools are eligible employers. Don't let this opportunity pass by! If your school's HR team hasn't shared information, they may be unaware or unsure how to get started. We can help. Learn more at attigo.com/pslf-employers.

NEWS FROM NASFAA

This article has been updated to note that the relief includes current students and borrowers who have federally-held undergraduate, graduate, and Parent PLUS loans where the first disbursement was on or before June 30, 2022. A previous version of the article indicated loans would need to be fully disbursed.

During 2021-22, NASFAA continued its Advocacy Pipeline efforts with the latest cohort of financial aid professionals meeting virtually with congressional staffers. Participants discussed a wide range of timely issues including doubling the maximum Pell Grant, improving student loan repayment, and simplifying R2T4. As NASFAA prepares for 2022-23 Advocacy Pipelines, which will include some in-person Hill visits after a stretch of only virtual events since the onset of the pandemic, we’d like to take a look back at some of our member advocacy from the 2021-22 cohort to help members get a sense of what the pipeline program looks like.

NASFAA UPDATES AND ANNOUNCEMENTS

With payments and interest on federal student loans paused since the start of the COVID-19 pandemic in March 2020, student loan borrowers haven’t been required to make payments for more than two years. At some point, borrowers will be required to resume making payments. This transition will have significant impacts on borrowers, some of whom entered repayment status during the pause and thus have never had to make a loan payment before; it will also significantly impact schools, which are held accountable for their students’ successful loan repayment. This task force will give thought to what schools and financial aid administrators should be thinking about now in preparation for borrowers transitioning back into repayment on federal student loans. Read the full task force charter and, if interested, apply to volunteer by Friday, Aug. 26.

The school could choose to use the Fresh Start letter from the U.S. Department of Education (ED) or a loan servicer as an indication that the student intends to return to school and apply for Title IV aid, so the school should probably reach out to the student to find out his, her, or their enrollment plans and to encourage the student to submit a FAFSA. Otherwise, these Fresh Start letters are not required and they are not used to establish Title IV eligibility for Fresh Start borrowers. View the full answer to this question to learn more.

On Aug. 24, 2022, President Joe Biden announced that his administration will be forgiving (canceling) up to $10,000 in student loan debt for millions of borrowers. For Federal Pell Grant recipients, the amount of debt forgiveness/cancellation will be up to $20,000. View the full answer to this question to learn more.

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