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The Department of Education (ED) last week issued proposed regulations on standards of financial responsibility for postsecondary institutions. ED cited in its proposal an overarching desire for better oversight tools to allow the department to more proactively identify institutions at risk of sudden closure due to financial instability. ED believes the proposed rules will allow them to encourage low-performing schools to improve while also dissuading students from attending risky schools and, ultimately, to protect taxpayers and students from the financial and other costs of sudden school closures. 

On Tuesday, NASFAA submitted comments on the Department of Education’s (ED) draft 2024-25 FAFSA. NASFAA commended ED on its efforts to date on the paper form, but noted a preview of the online experience is critical given the major changes coming. NASFAA made language recommendations and pointed out several omissions and errors in the instructions that could lead applicants to complete the form incorrectly. NASFAA indicated its continued commitment to partner with ED, stressing the need for a smooth implementation especially in light of the delayed FAFSA launch.

NASFAA's annual Business Meeting this year will be conducted virtually at 2:00 p.m. ET on May 24, 2023, as part of the Policy Update Webinar. The meeting will include reports on NASFAA's financial status, governance and oversight, and diversity efforts. The NASFAA Policy Update will include the latest updates on what's happening in Washington related to student aid policy. The Policy Team will provide updates on Higher Education Act reauthorization, student aid funding, regulatory action, and close with a question-and-answer session. Register now.

As the 2022-23 year comes to a close, we'd like to recognize all the important people who served the association this year. Our members are the lifeblood of our organization and we truly appreciate all the time, effort, thought, and energy all of our volunteer task force members have put in over the past year. Read on for the full list of 2022-23 task forces and their members and join us in thanking them for their service.

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