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© 2014 NASFAA Reauthorization of the Higher Education Act WFAA Conference 1 The National Association of Student Financial Aid Administrators
© 2014 NASFAA2 Reauthorization of Higher Education Act Law mandates reauthorization every 5-7 years –Higher Education Opportunity Act passed in 2008 Reauthorization should occur in 2014 –It won’t happen on time –The process has started, but there will not be a final bill Predictions on timing –An automatic one-year extension will be granted at end of 2014 –Initial legislation has been released in both House and Senate, but markups are unlikely in this Congress –Election recess and a lame duck Congress will slow progress –Maybe start to see real movement in spring of 2015
© 2014 NASFAA3 NASFAA’s Reauthorization Task Force Began work in January 2012 Consisted of 17 members from all sectors and regions Forty listening sessions around the country
© 2014 NASFAA4 Total Comments
© 2014 NASFAA5 NASFAA’s Reauthorization Task Force Developed 60 comprehensive recommendations approved by the NASFAA Board Recommendations submitted to both the House and Senate Education Committees in the fall of 2013 Document will continue to be updated, as the timetable for reauthorization is fluid
© 2014 NASFAA6 RTF Spin-off Task Forces Public Service Loan Forgiveness Task Force Report released in July 2014 Key recommendations to strengthen the PSLF program –Forgiveness limits: 100% up to $57,500 and 50% of remainder up to $138,500 total forgiveness –Keep untaxed –Increase awareness –Make data public
© 2014 NASFAA7 RTF Spin-off Task Forces Consumer Information Task Force Report released in August 2014 Key recommendations to improve consumer information –Eliminate annual notice and use College Navigator –Repeal student unit record ban –Examine usefulness of campus safety and fire safety reports, etc. –Eliminate non Title IV-related disclosures (e.g., Constitution Day, voter registration, etc. –Exempt graduate programs from inapplicable requirements –Require consumer testing for all new consumer information requirements
© 2014 NASFAA8 RTF Spin-off Task Forces Campus-Based Allocation Formula Task Force Report released in August 2014 Four recommendations to modify the campus-based aid allocation formula –Reconstruct income bands to more accurate reflect student need –Eliminate the base guarantee with phase-in protection –Restructure FSEOG fair share formula to be based on Pell funding received by institution with phase-in protection –Increase the assumed self-help for undergraduates in FWS and Perkins fair share formulas from 25% to 35% with phase-in protection
© 2014 NASFAA9 RTF Spin-off Task Forces Task forces starting work in fall 2014 R2T4 Competency-Based Education
© 2014 NASFAA10 Higher Education Affordability Act Senate Democrats’ first draft of reauthorization bill HEAA introduced on June 25 th Key provisions: –PPY –Year-round Pell –Eliminates student loan origination fees –Early notification of potential financial aid packages –Streamline repayment programs: a 10-yr plan, and an income-based plan –Borrowers more than 150 days delinquent auto-enrolled in IBR –Full school certification of private loans –Private student loans can be discharged in bankruptcy
© 2014 NASFAA11 Senators Alexander/ Bennet FAST Act Financial Aid Simplification and Transparency (FAST) Act Introduced on June 19 th Eliminates the FAFSA –Only asks for a student’s family size and adjusted gross income from two years prior Implements a one grant/one loan system Streamlines the repayment process into two programs: –A standard 10-year repayment and an income-based repayment Introduces a “look-up” table that uses family size and PPY to find the Pell Grant award amount –Provides early information to students and families Institutional authority to limit loans
© 2014 NASFAA12 House GOP Reauthorization Released four bills: –Simplifying the Application for Student Aid Act –Empowering Students Through Enhanced Financial Counseling Act (Passed) –Strengthening Transparency in Higher Education Act (Passed) –Advancing Competency Based Education Demonstration Project Act (Passed) These bills begin to address the committee’s four guiding principles: –Empowering students and families to make informed decisions –Simplifying and improving student aid –Promoting innovation, access, and completion –Ensuring strong accountability and a limited federal role
© 2014 NASFAA13 House GOP Reauthorization Simplifying the Application for Student Aid Act –Mandates the use of PPY income in federal need analysis –Not yet marked up Strengthening Transparency in Higher Education Act –Replaces College Navigator with a new site called College Dashboard –ED would maintain the site, and it would have institutional level information related to basic facts about an institution, such as: sector, web address, enrollment, completion, costs, financial aid, and cohort default rates –Passed the full House
© 2014 NASFAA14 House GOP Reauthorization Empowering Students Through Enhanced Financial Counseling Act Replaces one-time entrance counseling requirement with annual counseling that must be completed before student accepts the loan Passive confirmation of loans would no longer be allowed Exit counseling is expanded to include borrower-specific information Calls for annual counseling of Pell recipients ED required to offer consumer-tested, on-line counseling Requires Parent PLUS counseling Passed the full House
© 2014 NASFAA15 Other Reauthorization Marker Bills What is a marker bill? –Legislation that gets introduced to promote an idea or set of ideas, but without the intent of immediate Congressional action Recent marker bills: –Pell Grant Protection Act (Sen. Hirono) –Student Loan Borrower Bill of Rights (Sen. Durbin) –Bank on Students Emergency Loan Refinancing Act (Sen. Warren) –CHANCE Act (Sen. Landrieu) –Simplifying Financial Aid for Students Act (Sen. Booker) –College Affordability & Innovation Act (Sens. Murphy & Schatz) It’s clear that Congress is interested in student aid issues
© 2014 NASFAA16 Other “Hot Topics” for Reauthorization What is going to happen to the undergraduate interest subsidy? What is going to happen to the Campus-Based Loan programs, including the Perkins Loan Program? What will be done to address regulatory burden?
© 2014 NASFAA17 Questions? Email: firstname.lastname@example.org@nasfaa.org
© 2014 NASFAA18
© 2014 NASFAA Reauthorization of the Higher Education Act Jesse O’Connell– Asst. Director for Federal Relations NASFAA 1 The National Association of Student.
© 2014 NASFAA The following is a presentation prepared for: NYSFAAA Lake Placid, NY 1.
Washington Political Climate Review of Fiscal Cliff Triggers NASFAA Proactive Policy Advocacy & You Questions?
HEA Reauthorization and Washington Update Tom Babel Vice President, Regulatory Affairs DeVry Education Group.
Consumer Disclosure Proposals Presented by the National Association of Student Financial Aid Administrators.
Session #22 Overview of the Federal Direct Perkins Loan Program Gail McLarnon Dan Madzelan Office of Postsecondary Education.
HEA REAUTHORIZATION UDPATE 2013 Fall IASFAA Dubuque, Iowa.
Simplicity and Equity…Can it be done? Presentation for NCASFAA November, 2009 Steven E. Brooks Executive Director State Education Assistance Authority.
AACRAO and Federal Relations Update AACRAO Update 150% Direct Loan Legislation Postsecondary Institution Ratings System Higher Education Act Reauthorization.
COHEAO Priorities 2014 o Restore funding for loan cancellations o Preserve and Improve Perkins in Higher Education Act Reauthorization o Work on improvements.
© 2015 NASFAA NASFAA Federal Update Megan McClean Coval 1.
© 2015 NASFAA NASFAA Federal Update Stephen Payne 1.
The National Association of Student Financial Aid Administrators © NASFAA NASFAA’s Update: Inside the Beltway.
NASFAA Washington Update Megan McClean NASFAA. Agenda Washington Political Climate Update on Federal Education Budget State of the Union Proposals Reauthorization.
Washington Update NCHER Winter Legal Meeting February 26,
The National Association of Student Financial Aid Administrators © NASFAA 2012 Listening Session Reauthorization Task Force
Roadmap for tomorrow James Bergeron, NCHER President Sue McMillin, NCHER Chair-Elect, and President and CEO, TG Jimmy Parker, NCHER Chairman, and Executive.
Cynthia Montalvo Felician College. Higher Education Initiatives Legislative Updates Sequestration Defense of Marriage Act FAFSA Parental Information.
Jeff Baker U.S. Department of Education 2012 Software Developers Webinar #3 Policy Update.
Lynn Mahaffie | Dec U.S. Department of Education 2013 FSA Training Conference for Financial Aid Professionals Tools to Support Higher Education Choice.
HEA Reauthorization: Looking for Direction 2005 MASFAP Fall Conference The Lodge of the Four Seasons Presenter: Laurie Wolf Des Moines Area Community College.
2 Federal Policy Update 3 Budget - Fiscal Year 2003 Discretionary Budget –Across-the-Board 0.65% Reduction –Pell Grant Maximum - $4,050 –FSEOG – 5%
New Aid Officer Training Loan Programs Presented By Drew Johnson Brown Mackie College Atlanta.
COMMUNITY COLLEGE FEDERAL LEGISLATIVE OVERVIEW July 2015 Jee Hang Lee Vice President for Public Policy and External Relations Association of Community.
9/26/ U.S. Department of Education Michael Itzkowitz, Special Advisor Postsecondary Education 9/26/20132.
The National Association of Student Financial Aid Administrators © NASFAA NASFAA Update.
Seeking Opportunities & Meeting Challenges – A Washington Update MASFAA Annual Conference May 23, 2013 Brett Lief, Inceptia.
National Association of Student Financial Aid Administrators Slide 1 © NASFAA 2011 NYSFAAA Federal Update May 13, 2011.
Deborah Agee & Gloria DeLeon Assistant Directors Student Financial Services The University of Texas at Austin.
Loan Basics Angela Parkoff Financial Aid Advisor – Texas A&M New Aid Officers’ Workshop 2015.
Session C-06 Higher Education Opportunity Act of 2008: An Update David Bergeron U.S. Department of Education Office of Postsecondary Education Cynthia.
National Association of Independent Colleges and Universities WHAT HAPPENED WHAT YOU NEED TO KNOW WHAT’S AHEAD.
Fall 2012 Open House. Scholarships Institutional aid Federal student aid The aid application process Topics for Discussion:
CSU HS Counselor Financial Aid 101. What is Financial Aid Gift Aid Scholarships Grants Self-help aid Loans Employment opportunities.
2015 FAFSA Workshop Valerie Jensen Coordinator, New Students and Outreach Office of Student Financial Services.
Loan Basics Julie Wittmis Financial Aid Advisor – Texas Woman’s University New Aid Officers’ Workshop 2016.
Federal Update Janet Dodson. July 1 The measure prohibits first disbursements of Federal Family Education Loan Program loans after June 30. Allocate $61.
NYSFAAA NOVICE TRAINING SCOTT ATKINSON DIRECTOR OF ENROLLMENT SERVICES JUNE 2014 BUDGETING AND PACKAGING OF FINANCIAL AID.
Session # 53 Update on the Higher Education Regulations Study Anthony Jones Senior Policy Analyst and Director of the Higher Education Regulations Study.
Student Financial Services Update Campus Center Suite 250.
Slide 1 © 2016 NASFAA National Association of Student Financial Aid Administrators © 2016 NASFAA Federal Update Megan McClean Coval NCASFAA.
1 State Issues Update Fall 2006 Grove Park Inn Asheville, North Carolina Steven E. Brooks Executive Director North Carolina State Education Assistance.
N EXT S TEPS TO C OMPLETE THE F INANCIAL A ID P ROCESS 2012 Parent Programs.
Financial Aid Policy Implications Presentation for BCC Board of Trustees June 19, 2014 By Myrna Perkins.
Loan Basics Karen Trail and Julie Brumbaugh Texas Woman’s University 2015 ABC Workshop.
An America Built to Last Martha Kanter, Under Secretary Montana State University July 16, 2012.
Unified Carrier Registration (UCR) Update August 24, 2006.
CSU HS Counselor Financial Aid 101. What does it cost? Cost of Attendance* (9 months) At HomeOn CampusOff Campus Fees $7,025 Books/Supp.
HEOA Implications on Talent Search Texas Association of Student Special Services Programs 36 th Annual Conference March 8 – 11, 2009.
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