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today’s news for Tuesday, December 3, 2024

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Inceptia. Even with the recent student loan repayment announcements, current 0% CDRs could jump with 30% of borrowers not, nor intending to, pay their loans. While low CDRs may look like positive financial health, it's not the full story. Read more about the CDR illusion and its impact on institution's financial and operational health.

NEWS FROM NASFAA

It is with great sadness that we share the news of the passing of Cruzita ‘Crusie’ Lucero, who served for over 35 years in the financial aid profession, including as president of the Southern Association of Student Financial Aid Administrators (SASFAA) and national chair of NASFAA.

NASFAA is pleased to share its comments on proposed regulations that would grant loan cancellation to borrowers experiencing financial hardship. This proposal represents the final piece of the student loan debt relief rules package negotiated during 2023 and 2024, much of which was proposed in April and is currently blocked by the courts. In the comments, NASFAA stresses the need for front-end investments in the student aid programs to keep future borrowers from struggling to repay their debts.

The Department of Education (ED) last week gave several updates to both 2024-25 and 2025-26 paper FAFSA processing, including that ED has officially begun processing 2025-26 paper FAFSAs.

NASFAA UPDATES AND ANNOUNCEMENTS

More financial aid professionals recently joined hundreds of financial aid professionals across the country who now hold the FAAC® designation. Check the Registry to see if any of your colleagues have been certified and congratulate them for this achievement! Certified by the Certified Financial Aid Administrator® Commission, these individuals now qualify to receive a multitude of benefits. Would you like to become certified, too? The next testing window opens on the 1st — or take advantage of any of the upcoming testing windows. Start by exploring your eligibility today using our free interactive eligibility tool.

Blue Icon Advisors' upcoming Let's Talk session, on Thursday, December 12, will discuss advocating for budget basics needed for the institution to administer federal student aid. Check the schedule for additional upcoming topics and be sure to register for this upcoming session.

U.S. DEPARTMENT OF EDUCATION

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