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today’s news for Friday, January 27, 2023

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NEWS FROM NASFAA

The Office of Federal Student Aid (FSA) on Thursday published its Pell Grant payment and disbursement schedules for the 2023-24 award year. The new maximum Pell Grant for the 2023-24 award year is $7,395, a $500 increase made possible by the passing of the year-end omnibus package. FSA notes that future electronic announcements will provide institutions with important information about system, web, and software modifications that will reflect the 2023-24 Pell Grant payment and disbursement schedules. 

The Office of Federal Student Aid (FSA) on Monday released its annual performance report which included details on a wide range of topics, such as the student loan portfolio, employee engagement, data protection and cybersecurity, and updates on its major initiatives. 

President Joe Biden’s student loan debt relief plan has come under increased scrutiny from an annual audit of the Department of Education’s (ED) finances. The audit, conducted by KPMG, an independent certified public accounting firm contracted by ED’s Office of Inspector General, reviewed the department’s financial report for fiscal year 2022, and expressed concern over estimates related to costs associated with the debt cancellation plan.

Are you looking to test your knowledge from the news of the week? Check out our new weekly quiz highlighting some of our coverage and updates from the past week. (Hint: Read through this week's issues of Today's News for answers.) Be on the lookout for a new quiz each Friday and let us know if any of our questions stumped you!

NASFAA UPDATES AND ANNOUNCEMENTS

If you love to read and have a talent for insightful critique, then NASFAA has an opportunity for you! We're looking for volunteers to write reviews of selected books on recent topics in financial aid, higher education, leadership, and management issues. Reviews will be featured on NASFAA's website and in Today's News. Intrigued? Complete this Request for Information form by February 3, 2023, to learn more.

Please join us in congratulating Gary Garoffolo, formerly the student support services specialist at The University of Tulsa, who retired in January after 46 years of working in financial aid, and Sarah Kasabian-Larson, formerly the director of financial aid at Mid Michigan College, who is now the director of scholarships and financial aid at Central Michigan University. Celebrate your own career developments by completing the "Movers and Shakers" form to share the news with your colleagues.

U.S. DEPARTMENT OF EDUCATION

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