today’s news for Tuesday, May 12, 2015

NEWS FROM NASFAA

Sen. Jack Reed (D-RI) has introduced a bill that would impose a financial penalty on institutions when students default on federal student loans. The bill would expect institutions with a minimum 25 percent Direct Loan participation rate among its enrolled students to share the federal government's risk on student loans.

NASFAA seeks to hire an Assistant Director of Federal Relations with experience and skills in public policy and advocacy to become a member of the Policy & Federal Relations team. This is a D.C.-based position. The person selected will operate in a fast-paced environment and will manage multiple tasks simultaneously. Excellent communication and presentation skills and a strong understanding of federal legislative processes is required. Applications received by Friday, May 15 will be given priority. For full details visit NASFAA's Career Center.

Do you need a refresher on the Title IV Grant and Title IV Self-Help Programs? View this short video to learn about these topics and then register for NASFAA University’s most popular online course starting next month - Overview of the Financial Aid Programs. Introducing attendees to basic financial aid concepts, categories and types of financial aid, the Title IV aid programs, and other federal sources of assistance available to students, this 100 percent online course is a perfect training tool for new financial aid staff.

The Enrollment Management Task Force will be tasked with ensuring quality educational sessions are offered at the 2016 Leadership and Legislative Conference & Expo. The sessions will teach aid administrators how to develop well-planned strategies and tactics designed to shape institutional enrollment. Members will serve July 2015 through March 2016 and will be asked to attend two in-person meetings – one in New Orleans during the 2015 NASFAA National Conference, if attending, and one in Washington, D.C. in the fall. Calls and emails will round out the extent of the work. Please view the task force charter and complete the volunteer form by Friday, May 15 if interested.

U.S. DEPARTMENT OF EDUCATION

On Sunday, May 10, 2015, the Department of Education implemented the FSA ID, a modernized log-in process that improves the security and customer experience for our student- and borrower-based websites, including FAFSA on the Web, NSLDS Student Access, StudentLoans.gov, StudentAid.gov, and the TEACH Grant website.

FEDERAL REGISTER

The Assistant Secretary for Postsecondary Education announces priorities, requirements, a selection criterion, and definitions under the First in the World (FITW) program. The Assistant Secretary may use these priorities, requirements, selection criterion, and definitions for competitions in fiscal year (FY) 2015 and later years.

HEADLINES

National News

"President Obama on Friday called on Congress to close tax loopholes for millionaires and billionaires and use the savings to offer all Americans a higher education, saying that two years of free community college is in 'everybody's interest,'" The Washington Times reports.

"Fans of Game of Thrones know that 'a Lannister always pays his debts.' So, too, do nearly all alumni from Notre Dame, Vassar, Harvey Mudd and Brigham Young (BYU), at least when it comes to federal student loans," Newsweek reports.

State News

"The City University of New York and two kind-hearted donors gave a big boost Tuesday to struggling Dreamers hoping to get a college degree," the New York Daily News reports.

"Students who get college credit not earned in a college classroom will have an easier time transferring those credits starting next spring," The Denver Post reports.

Opinions

"When I was researching payday loans, I came across an interesting statistic: Within three years of entering into repayment, 13.7 percent of federal student loans wind up in default," Cameron Smith writes for Alabama Media Group.

"Student debt is a front-line issue for many students and families. While multiple studies clearly show that a college degree is the surest path to increasing employment and earnings potential, many young Americans are concerned- rightfully so-about successfully managing their student loans," Jack Remondi, president and CEO of Navient, writes for FOX News.

"President Obama has made community colleges central to his campaign for social mobility. 'For millions of Americans," he declared in his January speech proposing free community college tuition, 'community colleges are essential pathways to the middle class,'" Thomas Bailey, director of the Community College Research Center at Teachers College, Columbia University, writes for The Washington Post.

Blogs and Think Tanks

"Should the bankruptcy code be amended to make it easier for borrowers to seek forgiveness of student loan debt through a bankruptcy filing?" The Wall Street Journal's Bankruptcy Beat blog asks.

"The past few years have been tough for Historically Black Colleges and Universities (HBCUs). Many are facing financial hardships due to a combination of factors such as declining state support, expiration of additional federal funds specifically budgeted to strengthen HBCUs, and increased reliance on federal parent loans which have become harder to obtain," according to EdCentral.

INDUSTRY NEWS

• Student Loan Rehabilitation: A Win/Win for Borrowers and Schools  

NASFAA UNIVERSITY

• New Verification Self-Study Guide Now Available  
• Professional Credentials Do Matter - NASFAA U Testimonials  

NASFAA CAREER CENTER

• Fiscal Analyst, University of South Carolina Aiken, Aiken, South Carolina  
• Scholarship Coordinator, University of South Carolina Aiken, Aiken, South Carolina  
• Financial Aid Advisor, St. Thomas University, Miami Gardens, Florida