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today’s news for Monday, October 3, 2022

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NEWS FROM NASFAA

A federal judge on Thursday determined that the first legal challenge to President Joe Biden’s student debt cancellation plan would not bring irreparable harm to a borrower who argued that the automatic discharge could result in an unintended tax obligation. The initial ruling, however, is unlikely to quiet challenges to the administration’s efforts to carry out debt relief, with conservatives continuing to craft lawsuits aiming to halt the program.

Over the weekend, President Joe Biden signed a continuing resolution that will keep the government funded through December 16, offering Congress additional time to work through spending levels for fiscal year 2023 following the midterm elections. Congressional negotiators will need to reconcile the differences between the Senate’s drafted spending plan that contains $87.3 billion in base discretionary funding for ED, with the House’s $86.7 billion package for the agency.

The Consumer Financial Protection Bureau (CFPB) on Thursday released a report that found federal student loan servicers illegally hampered borrowers’ access to federal student loan payment relief and cancellation programs.

NASFAA UPDATES AND ANNOUNCEMENTS

No. NASFAA has learned that the calculation of aggregate loan limits does not change due to the Fresh Start Initiative. Schools should continue to use the original principal loan amounts borrowed (without collection fees, accrued interest, or capitalized interest) to calculate remaining eligibility for a Direct Loan. View the full answer to this question to learn more.

What makes a strong candidate for NASFAA National Chair? We are seeking someone who works full-time at a NASFAA member institution, has demonstrated leadership at the state or regional level, has experience with facilitating meetings and public speaking, and is committed to upholding NASFAA’s code of ethics. If you — or anyone you know — fits the bill, please nominate yourself or a qualified colleague for the role of NASFAA National Chair by Wednesday, November 2 at 5:00 p.m. ET. Nominations are also being accepted for representatives-at-large.

This October, NASFAA's webinar line-up starts with the FAFSA Update: 2023-24 webinar, presented by Norma Robinson. NASFAA's complimentary New Aid Officer Training series kicks off Tuesday, October 11 and continues through Friday, October 21. On Wednesday, October 26, join David Futrell for the Verification: 2023-24 (extended edition) webinar. NASFAA webinars are all recorded and made available to view on-demand. Register now.

U.S. DEPARTMENT OF EDUCATION

NASFAA IN THE NEWS

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