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today’s news for Tuesday, January 16, 2024

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NEWS FROM NASFAA

The Department of Education (ED) on Friday announced that starting in February, eligible borrowers enrolled in the Saving on a Valuable Education (SAVE) repayment plan will have their federal student loan debt forgiven as part of an early implementation of a SAVE plan provision.

Sen. Bill Cassidy (R-La.), ranking member of the Senate Health, Education, Labor, and Pensions (HELP) Committee, criticized the Department of Education (ED) in a letter on Friday for its “botched” rollout of the 2024-25 FAFSA. 

NASFAA convened the Examining Federal Work-Study Task Force in December 2022 to examine what changes institutions implemented during the COVID-19 pandemic to their Federal Work-Study (FWS) programs (especially given the temporary nature of the FWS flexibilities), what challenges they are facing now as they look to transition back to the original regulations, and what flexibilities may be required for this program to continue to be successful in the future. Along with recommendations for the Department of Education and Congress on ways to improve and bolster the FWS program, the task force researched and put forth best practices institutions are using in utilizing their FWS funding. The full report is available now. 

NASFAA UPDATES AND ANNOUNCEMENTS

This AskRegs Knowledgebase Q&A was updated on December 20, 2023, to reflect additional clarification from the U.S. Department of Education (ED), received since NASFAA's December 12, 2023 webinar, Verification 2024-25. Scenario: The student is a U.S. citizen. Both parents live in a foreign country, do not have Social Security Numbers, and did not file taxes in the U.S. or abroad. Answer: When both parents live in a foreign country, they answer the FAFSA questions as written, depending on whether they had income in the foreign country. View the full answer to this question to learn more.

We're excited to announce that registration is now open for the NASFAA 2024 national conference. Join NASFAA — and thousands of your colleagues in financial aid — in person in Milwaukee, Wisconsin for the premier event serving the student financial aid community. The national conference provides valuable, up-to-date information on the student aid programs from financial aid veterans, and is a unique training and professional development opportunity that will equip student aid professionals with the tools they need to better serve students and families. Register today to save your spot — we hope to see you there!

Blue Icon Advisors' next Let's Talk session on Thursday, January 18, focuses on the challenges and strategies to ensure data privacy and compliance. The event is free to NASFAA members, but you must register in advance. Let's Talk meets every month, so be sure to check the schedule to see more upcoming Let's Talk topics.

U.S. DEPARTMENT OF EDUCATION

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