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The Department of Education (ED) in an electronic announcement on Friday identified a miscalculation in the 2024-25 Student Aid Index (SAI) formula that could create more student aid packaging delays, the latest in a series of challenges in the rollout of the overhauled FAFSA.

Last week, NASFAA's Board of Directors voted to update NASFAA's current financial aid offer glossary to align with the glossary established by the College Cost Transparency (CCT) Initiative. This decision reflects NASFAA's commitment to promoting transparency and clarity in financial aid communication and to the work done by the CCT task force. By adopting the CCT's glossary, NASFAA will be part of the effort to standardize terminology across the industry, making it easier for students and families to understand and compare financial aid offers from different institutions. This update will help ensure that financial aid information is presented consistently and accurately, empowering students to make well-informed decisions about their education financing options. NASFAA believes that this alignment will contribute to greater transparency and trust in the financial aid process, benefiting students and institutions alike.

President Joe Biden formally signed the year-end omnibus package into law, staving off a government shutdown and completing the budget cycle for fiscal year 2024. The law allocates $79.1 billion to the Department of Education (ED) and its programs, a $201 million decrease (after accounting for earmarks) from the fiscal year (FY) 2023 enacted level.

No. According to guidance NASFAA has received from the U.S. Department of Education (ED), tax return information that is provided directly to the institution is not considered federal tax information (FTI) and does not require the "CUI//SP-TAX" labeling. View the full answer to this question to learn more.

The NASFAA Quiz Show has been renewed and is all set for season four! Get ready, because as a NASFAA member, you might be called on to serve as a contestant. The webinar, on April 17 at 2 p.m. ET, brings to life some of those very thought-provoking and sometimes mind-blowing AskRegs questions in a manner that is considered "edu-tainment." Register now to reserve your seat.

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