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today’s news for Wednesday, January 31, 2024

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NEWS FROM NASFAA

The Department of Education (ED) on Tuesday announced that institutions and states will begin receiving Institutional Student Information Records (ISIRs) in the “first half of March,” backtracking its original — and already delayed — commitment that ISIRs would be delivered by the end of January. 

On Friday NASFAA sent a letter to House Education and Workforce Committee leadership sharing feedback on its recent proposed legislation, the College Cost Reduction Act. NASFAA praised student-friendly provisions of the bill, elimination of origination fees and student loan interest capitalization, but opposed elimination of the SEOG, Graduate PLUS, and Parent PLUS programs. NASFAA also shared concerns and questions about a new institutional risk sharing framework proposed in the bill, as well as on a new loan repayment scheme.

NASFAA UPDATES AND ANNOUNCEMENTS

Financial Aid advising is an essential component of Prison Education Programs (PEPs). Many PEPs rely on the paper FAFSA when serving students who are incarcerated. We expect many new PEPs will enroll their first students in the fall of 2024. During this workshop, today at 2 p.m. ET, we will walk through the 2024-25 FAFSA completion process, highlighting the most complex form and verification questions. Register today to reserve your seat.

The professional credential test on Verification is offline on Wednesday, January 31, 2024 for maintenance. If you will be taking this test anytime on or after February 1, 2024, even if you purchased the test already, be prepared to answer questions based on 2024-25 regulations. View the NASFAA Testing Center for a schedule of updates planned over the next several months, including brief periods when certain tests will be offline. If you have any questions, contact [email protected]

This spring, the NASFAA professional credential test you take could include five additional multiple-choice questions centered around a new scenario, which will not affect your score. The new scenario will not be flagged, so be sure to complete all three scenarios presented to you. If your test topic is included in this beta test, you’ll be advised of this before taking the test and you’ll have an extra 30 minutes to complete the entire test. If you have any questions, contact [email protected].   

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