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today’s news for Monday, September 19, 2022

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Edamerica. As a division of Edfinancial, we are solely dedicated to advancing student success. With services that include Contact Center Solutions, Student Engagement, Financial Aid Support, Default Prevention and Consulting, we support students from point of application through loan repayment. Visit www.edamerica.net to learn how we can make a difference for your students.

NEWS FROM NASFAA

Last Thursday, Democratic members of the House Committee on Education and Labor released the Lowering Obstacles to Achievement Now (LOAN) Act, which tackles college affordability through actions like doubling the Pell Grant and reducing the cost of student loan borrowing. The bill comes on the heels of the Responsible Education Assistance Through Loan (REAL) Reforms Act released by House Republicans in early August, which offered its own loan reforms but fell short by limiting the ability for borrowers to take out loans without offering ways to reduce the need for student borrowing.

Online coursework has become ubiquitous in recent years, but for NASFAA the virtual world and online instruction have been tools that financial aid professionals have long had access to, with NASFAA U’s online facilitated courses marking their 10th year of operation.

Last week, NASFAA President Justin Draeger joined the American Council on Education’s (ACE) dotEDU podcast to discuss President Joe Biden’s student loan forgiveness plan and what it means for borrowers, institutions, parents, and the higher education community as a whole. Off The Cuff will be back later this week with the latest regulatory updates and higher education news. In the meantime, be sure to catch up on our latest episodes and send us your questions, comments, and feedback.

NASFAA UPDATES AND ANNOUNCEMENTS

Yes. U.S. Department of Education (ED) guidance does not specify format or signature requirements for the servicer change acknowledgment required in GEN-22-13, so it is up to the school. View the full answer to this question to learn more.

NASFAA Website Maintenance Scheduled for September 23

The NASFAA website, www.nasfaa.org, will be unavailable starting at 4:00 p.m. ET on Friday, September 23, for scheduled maintenance. The outage is expected to last approximately three hours; the site will be fully restored when complete Friday evening. This maintenance window will also impact other NASFAA entities, including AskRegs, the Compliance Engine, and Testing Center. Thank you for your patience while NASFAA works to maintain our online resources.

U.S. DEPARTMENT OF EDUCATION

NASFAA IN THE NEWS

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