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today’s news for Monday, January 29, 2024

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NEWS FROM NASFAA

Almost 40 congressional Democrats, including Sen. Elizabeth Warren (D-Mass.) and Sen. Chuck Schumer (D-N.Y.), are urging the Department of Education (ED) to host another negotiated rulemaking session – known as neg reg – to discuss student loan debt relief for borrowers who face financial hardship.

NASFAA UPDATES AND ANNOUNCEMENTS

It depends. NASFAA has confirmed with the U.S. Department of Education (ED) that there are two required questions for a spouse even if they are not a required contributor. These are questions regarding their identity and contact information. How these questions are completed depends on the type of FAFSA being filed: paper or online. View the full answer to this question to learn more.

Last week, the Department of Education (ED) announced that it will update the tables used to protect a portion of a family’s income and assets from being considered in the Student Aid Index (SAI) by inflation-adjusted amounts. However, ED failed to release a timeline of when it will release updated tables. NASFAA will update its SAI Modeling Tool once ED releases the updated tables, and will alert members when the updated tool is available. 

Given the scope of the regulatory changes in effect for the 2024-25 award year, NASFAA’s professional credential tests will transition to the new rules over the next several months. By May 1, 2024 all credential tests and the CFAA Program knowledge exam will incorporate the legislative and regulatory requirements for the 2024-25 award year. View the NASFAA Testing Center for the schedule of updates, including brief periods when certain tests will be offline. Note that some credential tests will be updated earlier than others. Be sure to prepare according to the date you will take the test or exam, even if you purchased or were granted access before its transition date. If you have any questions, contact [email protected].

U.S. DEPARTMENT OF EDUCATION

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