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This week on "Off the Cuff," Allie, Jill, and David discuss updates with the negotiated rulemaking process for student debt relief and new changes with FAFSA simplification and the contributor process. Jill first debriefs listeners on last week's negotiated rulemaking session on student loan debt relief and the Department of Education's proposed regulatory text. David then explains how a student can invite a contributor to complete the FAFSA and other intricacies with the contributor process in completing the 2024-25 FAFSA.
The Department of Education (ED) on Wednesday released guidance to institutions on the borrower defense process after the Sweet v. Cardona settlement, as aid offices this fall reported concerns over an increase of borrower defense notifications.
Yes. According to guidance NASFAA received from the U.S. Department of Education (ED), if a 1040-X amended tax return was filed and processed by the Internal Revenue Service (IRS) before the FAFSA was filed, and if federal tax information (FTI) is successfully transferred, the FAFSA will contain the amended tax return data. This includes IRS corrections to the tax return that do not require a 1040-X. View the full answer to this question to learn more.
Last week NASFAA identified an issue with formulas not properly copied in the SAI model that could result in erroneous estimates of SAIs and Pell Grant amounts. We have posted an updated version of the model with a full explanation of the error. NASFAA urges those who used version 8.0 to import their data into version 8.1 to ensure accurate results.
Register now for NASFAA U’s Fundamentals of Student Financial Aid online course! Starting on Monday, January 8, 2024, this four-week interactive online course is the perfect learning tool for new financial aid professionals, and individuals who assist students through the financial aid cycle such as admissions or enrollment representatives, and high school counselors.