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Inceptia. Are student loan repayments sneaking up on your borrowers? With the end of the "On-Ramp", missed payments will have real consequences. Help your delinquent borrowers before they default with Repayment Counseling Outreach, a proactive engagement program to get borrowers on track, reduce default, and keep your CDR in check. Prepare now!

The Office of Federal Student Aid (FSA) missed key steps when implementing federal tax information (FTI) provisions through the Student Aid and Borrower Eligibility Reform (SABER) initiative, according to a new audit from the Department of Education’s (ED) Office of Inspector General (OIG). 

Last Monday, the Department of Education (ED) issued new guidance for institutions and states looking to conduct proactive outreach to students by utilizing FAFSA data to inform students of various means-tested federal benefits that may be available to them.

Scenario: Comment Code 303 reads, "The student’s parent indicated that they reside in a foreign country but did not file any tax return due to not earning any income. The FAA [financial aid administrator] has the authority to request certain financial documents from the student’s parent(s) to verify the student’s eligibility for federal student aid." Volume 7 of the FAFSA Specifications Guide states that the following action is needed: "Resolution Required. Determine if the student/parent has foreign income but has not filed a foreign tax return for reasons other than being low income." View the full answer to this question to learn more.

Join NASFAA for a six-week interactive online course reviewing the changes in the federal methodology from the expected family contribution (EFC) to the student aid index (SAI), the calculation of the SAI, and the federal Pell Grant calculation, including minimum and maximum federal Pell Grant amounts. This course is the perfect learning tool for financial aid professionals to understand the calculations behind the new SAI and how to calculate the Pell Grant using HHS poverty guidelines. Register today to secure your seat. 

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