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ELM Resources. Get the concierge service you deserve. As you head into peak this season, our team is here to help you process your alternative loans more efficiently—from problem-solving to supporting your unique processing needs. Contact us via email or 866.524.8198.

The Department of Education (ED) last week issued proposed regulations on administrative capability and certification procedures. ED negotiated this section of the regulations in a rulemaking session held in early 2022, where it also discussed institutional and programmatic eligibility topics including the 90/10 rule, ability to benefit, financial responsibility, and gainful employment. This is the fourth article in series delving deeper into specific provisions of the proposed rules. 

A new working paper published in the National Bureau of Economic Research found that federal student loan borrowers — whose monthly payments and interest accrual have been paused since the start of the COVID-19 pandemic — increased their borrowing on credit cards, mortgages, and auto loans rather than avoiding delinquencies during the pause.

Are you looking to test your knowledge from the news of the week? Check out our weekly quiz highlighting some of our coverage and updates from the past week. (Hint: Read through this week’s issues of Today’s News for answers.) Be on the lookout for a new quiz each Friday and let us know if any of our questions stumped you!

The NASFAA office will be closed on Monday, May 29 for the Memorial Day federal holiday. NASFAA's Today's News will not be sent and AskRegs and technical and membership support will not be available until the office reopens on Tuesday, May 30.

More than 400 financial aid professionals across the country now hold the FAAC^® designation. Check the Registry to see if any of your colleagues are certified and send them well-deserved congratulations! Certified by the Certified Financial Aid Administrator^® Commission, these individuals qualify to receive a multitude of benefits. If you’re interested in becoming certified, explore your eligibility today using our free interactive eligibility tool. The next testing window opens on May 31, 2023 and many more testing windows are available.

Please join us in congratulating: Quintin Sipp, formerly a financial aid counselor at New York University, who is now the assistant director of financial aid at Columbia University; Tara Torres, formerly a financial aid counselor at Jacksonville University, who is now the assistant director of scholarships and strategic initiatives at University of North Florida; and Greg Thornburg, formerly the senior assistant director of financial aid and scholarships at Ball State University, who is now the financial aid director at South Louisiana Community College.  Additionally, Robert Quinn, currently the director of IT services for the office of student aid at Pennsylvania State University, will retire at the end of June after 40 years of working in financial aid. Bob is also the founder and owner of Finaid-L, the first email listserv for financial aid administrators, which was established in 1992. Celebrate your own career developments by completing the "Movers and Shakers" form to share the news with your colleagues.

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