Financial Aid News : FinancialAidNews.com

Higher Education Subsidies (Cato Institute)

Wed, 17 Mar 2010 18:24:41 +0000

"Critics of SAFRA correctly point out that the alleged savings of nationalizing student loan subsidies are a sham," the Cato Institute reports. "The Congressional Budget Office has scored the nationalizing portion of the bill as saving $67 billion over ten years. However, in a letter to Sen. Judd Gregg (R-NH), the CBO acknowledged that when the cost of default risk is factored in, the alleged savings drop by $33 billion. Yet, taxpayers won't realize any savings because the legislation adds $80 billion in additional spending for Pell grants and other programs. For taxpayers, the unpalatable choice is nationalization or crony capitalism -- subsidizing private businesses."

Chase Suspending Origination of New Federal Student Loans in Mid-April (Student Lending Analytics)

Wed, 17 Mar 2010 18:24:41 +0000

"Here is a description of what this means for students," Student Lending Analytics reports. "'Beginning April 17, 2010, we will suspend accepting all new FFELP loan applications for the 2009-10 academic year. This includes applications submitted through the Chase platform and all third-party platforms (e.g., Sallie Mae, Great Lakes, AES, ACS, ASA and HESC). FFELP loan applications received prior to April 17, 2010, will continue to be processed, provided that they are set for first disbursement by May 7, 2010.' The company also noted that they would be suspending loan applications for 2010-11 also, unless ECASLA is extended in its current format."

Opinion: A New Kind of March Madness (The Hill)

Wed, 17 Mar 2010 18:24:41 +0000

"Throughout the first week of March, college students organized over 120 actions in over thirty states to rally against the historic divestment from higher education," writes United States Student Association President Gregory Cendana in The Hill. "On March 20-23rd, over five hundred students are taking this vigor and enthusiasm to Capitol Hill to urge their Senators to pass a student aid reform proposal that has recently been included in the budget reconciliation bill. ... Students overwhelmingly support the proposal. During the 2009 National Student Congress, student aid reform was unanimously passed as a top legislative priority for the United States Student Association, which represents over 4.5 million college students."

Alabama: Fall 2011 Could Be End for Alabama Tuition Plan (Associated Press)

Wed, 17 Mar 2010 18:24:41 +0000

"Alabama's prepaid college tuition plan appears unable to pay tuition beyond the fall semester of 2011 and still have enough money to provide refunds to the 44,000 participants, administrators said," the Associated Press reports.

Family Starts Scholarship to Spur Government Careers (Washington Post)

Wed, 17 Mar 2010 18:24:41 +0000

"Heirs to a supermarket fortune will launch a multimillion-dollar scholarship foundation designed to encourage graduate students to pursue government careers in national security, foreign policy and international development," Washington Post reports. "The Robertson Foundation for Government plans to eventually provide full financial support to hundreds of graduate students in those fields who agree to at least three years of service with a federal agency within five years of graduation. ... The foundation plans to name four or five partner universities in coming weeks and then select its first eight fellows by the start of the 2010-11 academic year."

$1.2 Billion, Forgone? (Inside Higher Ed)

Wed, 17 Mar 2010 18:24:41 +0000

"[S]everal members of Congress are expressing concern about why the U.S. Education Department and the Department of Health and Human Services have been unable to reach agreement on the former's use of a database managed by the latter that allows student loan guarantee agencies and others to track student loan borrowers who aren't repaying their debt," Inside Higher Ed reports. "The foregone revenues from the lack of a 'matching agreement' between the two agencies for more than a year now is $1.2 billion, according to the letter from four Democratic members of the House of Representatives."

ANN-10-09: Additional Year-Round Pell Grant Webinar for Term-Based Schools and Year-Round Pell Grant Webinar for Clock-Hour/Non-Term Schools

Wed, 17 Mar 2010 18:24:41 +0000

This letter announces additional instructor-led, online training on implementation of the year-round Pell Grant provision. This training was first offered in February 2010. Due to high demand for this information, the Department is offering these webinars again in late March 2010. The Higher Education Opportunity Act authorizes schools to disburse up to two Pell Grants in a single award year, beginning with the 2009-10 Award Year, for Pell-eligible students. The focus of this training will be implementation of the year-round Pell Grant provision for the 2009-10 Award Year, including Summer 2010, and subsequent award years. It is intended for all schools that participate in the Pell Grant Program.

Summary of NASFAA Budget and Finances

Wed, 17 Mar 2010 18:24:41 +0000

The NASFAA Finance and Audit Committee has created a summary of NASFAA's budget and finances so members can see how their membership dues are used to provide NASFAA products, services, and activities. The report summarizes NASFAA's budget process, revenues, and expenses. The report also compares NASFAA's latest revenue and expenditure numbers with 2007 numbers to show how NASFAA has adjusted to a tighter budget without eliminating member products and services.

Work Hard, Play Hard at the 2010 NASFAA Conference

Wed, 17 Mar 2010 18:24:41 +0000

Make plans now to join your colleagues at the 2010 NASFAA National Conference, hosted in vibrant and beautiful Denver, Colorado. NASFAA's National Conference hosts thousands of aid administrators annually, offering professional advice, expert guidance from policymakers, and the wisdom and camaraderie of colleagues. Mark your calendar for the NASFAA National Conference July 18 -- 21, 2010 at the Colorado Convention Center, and prepare to benefit from the best educational and networking opportunities - and the outstanding variety of entertainment! Denver, the Mile High City, is famous as the gateway city for major winter sports in the Rocky Mountains but there's plenty to see and do all year round in Denver itself.

NASFAA Conducts Financial Aid Professional Credentialing Survey: Deadline March 31

Wed, 17 Mar 2010 18:24:41 +0000

Yesterday, NASFAA emailed a survey invitation to all Today's News subscribers. The survey is being conducted by NASFAA's Institutional Program Management Committee as part of the charge given by National Chair Dr. Barry Simmons to explore credentialing of financial aid professionals. The results of the survey will be used to make a recommendation to the NASFAA Board of Directors on professional recognition, and will be released during a session at the NASFAA conference this summer. If you did not receive a survey invitation and your institution or organization is a NASFAA member, email us to receive the survey link.