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TODAY'S NEWS

today’s news for Friday, July 14, 2017

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Inceptia: Our mission is simple—to support schools as they arm students with the knowledge needed to become financially responsible citizens. We do this through innovative solutions in financial aid management, default prevention, and financial education that help schools serve students in effective and uncomplicated ways. Learn more at Inceptia.org.

NEWS FROM NASFAA

A House appropriations subcommittee on Thursday afternoon swiftly voted on party lines to move a funding bill for the 2018 fiscal year to the full committee for further markup next week.

As Congress continues work on crafting the fiscal year 2018 federal budget, it is critical that the federal student aid programs continue to be supported and invested in, NASFAA member Heather Boutell said during a panel discussion in Washington, D.C., on Thursday.

Brianna's Blog

This week officially marks my fourth week as NASFAA’s Dallas Martin Endowment (DME) policy intern. There is a lot going on and excellent work being done. Despite this past week being the week of the Fourth of July, I am learning as much as I did during my first week! On Monday, I attended a public hearing about negotiated rulemaking at the Department of Education’s Washington, D.C., headquarters. Prior to attending, I had never been to a hearing or had any experience with the process behind negotiated rulemaking. The only expectation I had was to learn something new.

U.S. DEPARTMENT OF EDUCATION

The COD Processing Update provides information related to COD System processing and includes the following sections: COD News and Updates, Current Issues (with a subsection for All Programs, Direct Loans, and Grants), and Reminders.

Draft versions of the proposed 2018-2019 application forms used by individuals applying for federal student aid, including the Free Application for Federal Student Aid (FASFA®) form and the Student Aid Report (SAR), are available for public comment. Only comments regarding the FAFSA, SAR, and related forms should be submitted during this comment period. Comments related to topics such as the FSA ID and the Verification Process should not be submitted using this process.

In a July 5, 2017 Electronic Announcement, the Department informed schools that it would recalculate 2017-2018 Federal Work-Study (FWS) and Federal Supplemental Educational Opportunity Grant (FSEOG) final awards for schools. It also announced a temporary hold on FWS and FSEOG drawdowns in G5.

FEDERAL REGISTER

This request is to conduct the 2017-18 National Postsecondary Student Aid Study, Administrative Collection (NPSAS:18-AC).

Interested persons are invited to submit comments on or before August 14, 2017.

The Federal Direct PLUS Loan Request for Supplemental Information serves as the means by which a parent or graduate/professional student Direct PLUS Loan applicant may provide certain information to a school that will assist the school in originating the borrower's Direct PLUS Loan award, as an alternative to providing this information to the school by other means established by the school.

HEADLINES

National News

"Federal Reserve Chair Janet Yellen gave a mostly 'nothingburger' testimony to the House on Wednesday. ... The hearing was a snooze, except for one moment. Rep. Jeb Hensarling, a Republican, demanded to know whether the Federal Reserve would ever buy student loans," The Washington Post reports.

"An Obama-era program that grants temporary legal status to nearly 800,000 people brought to the United States illegally as children may be abruptly cut off in a matter of months," Foreign Policy reports.

"The Trump administration's first budget proposal was greeted coolly by Republican lawmakers (amid deep consternation from advocates for higher education) when it was released in May. ... Wednesday President Trump's party offered a more direct rebuke, as the appropriations panel in the House of Representatives released a 2018 spending bill that rejects most of the administration's proposed changes," Inside Higher Ed reports.

Opinions

"There were many reasons to be skeptical of the appointment of Betsy Devos to Secretary of Education prior to her confirmation in February, 2017. However, everyone new to a position deserves a chance to vindicate themselves in the eyes of doubters and prove that they have what it takes to do the job," Brian Boswell writes in an opinion piece for Forbes. "And what has Secretary DeVos accomplished on the higher education front thus far?"

Blogs & Think Tanks

"When you go to college, you probably aren’t thinking about how much you’ll owe when you finish. Unfortunately, that lack of knowledge can result in an unpleasant surprise when it’s time to repay your debt," according to a  blog post from Student Loan Hero.

INDUSTRY NEWS



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