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today’s news for Friday, September 30, 2022

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Ocelot. New research shows the breakdown between institutions and students rests with inaccessible information, inconsistent advice, and confusing systems. Get the full results, insights, and case studies on how institutions can scale the personal touch and bridge the engagement gap. Download the report.

NEWS FROM NASFAA

The Department of Education (ED) on Thursday provided student loan borrowers with an update to the administration’s student debt relief plans and formally outlined upcoming steps that will accompany the rollout of the application for loan cancellation.

For many students the final hurdle to completing their academic program stems from unforeseen financial challenges that can derail their degree completion — but with emergency aid, institutions are looking to stem the tide of these financial pitfalls. In a virtual forum hosted by The Chronicle of Higher Education, a group of higher education and financial aid experts — including Blue Icon Advisors Principal Consultant Tony Erwin — provided listeners with a number of case studies, best practices, and detailed guides to prevent students from stopping out of their program of choice.

NASFAA UPDATES AND ANNOUNCEMENTS

Not as of September 29, 2022. In a change of policy, as of Sept. 29, 2022, borrowers with federal student loans not held by the U.S. Department of Education (ED) cannot obtain one-time debt forgiveness (cancellation) by consolidating those loans into Direct Loans. This policy change is now reflected on ED's One-Time Student Loan Debt Relief Frequently Asked Questions website. View the full answer to this question to learn more.

The most recent certification testing window has closed and the registry continues to grow! Hundreds of financial aid professionals across the country now hold the FAAC® designation. Certified by the Certified Financial Aid Administrator® Commission, these individuals now qualify to receive a multitude of benefits. If you're interested in becoming certified, the next testing window opens on Oct. 19, 2022. Explore your eligibility today using our free interactive tool

Please join us in congratulating Caroline Hernandez, formerly the campus financial aid supervisor, who is now the regional director, financial aid campus operations/outreach at Austin Community College; Shawn Morrissey, formerly the director of financial aid at UMass Chan Medical School, who is now the director of college relations at MEFA; and Cheryl Lyons, currently the director of student financial aid at University of Central Arkansas, who will retire in December after 37 years of working in financial aid. Celebrate your own career developments by completing the "Movers and Shakers" form to share the news with your colleagues.

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