Archive for the ‘Spark Notes’ Category

December 4, 2019 · by mlivolsi · Spark Notes

Secretary of Education Betsy DeVos today told a gathering of 5,000 financial aid administrators in Reno, Nevada that the federal student aid system is an “untamed beast” that cannot fulfill its mission because of the structure of the programs set up by Congress.  She called for drastic structural reforms, saying she wants the entire Office…

November 1, 2019 · by mlivolsi · Spark Notes

Dear COHEAO Members, Below please find a link to a memo prepared by Bose Public Affairs Group staff summarizing this week’s House Education and Labor Committee’s markup of H.R. 4674, introduced by Chairman Bobby Scott (D-VA) to revise the Higher Education Act (HEA).  After a markup proceeding that was spread across three days, the Committee…

November 1, 2019 · by mlivolsi · Spark Notes

COHEAO is thrilled to announce that registration is now open for the 2020 Annual Conference, February 11-12 on the University of California’s Washington Center and at the Capitol in Washington, D.C.! Register today! What is the COHEAO Annual Conference? The must-attend event for student financial services professionals on campus and their vendor partners who are…

October 24, 2019 · by mlivolsi · Spark Notes

As you may know, last week, Rep. Bobby Scott, Chair of the Education & Labor Committee, and House Democrats introduced the College Affordability Act (HR 4674), their latest attempt at reauthorizing the Higher Education Act (HEA). Full text can be found here: Bill Text: https://edlabor.house.gov/imo/media/doc/REINTRO_xml.pdf (Sections on Perkins are Sec. 4304 Pg. 537- Pg. 538…

October 18, 2019 · by mlivolsi · Spark Notes

Federal Student Aid (FSA) has posted a notice, “Perkins Loan Program – Federal Perkins Loan Revolving Fund Distribution of Assets and Timelines for 2019–20.”  The announcement is pasted below, and attached. If you have any questions, please email Harrison Wadsworth, Jared Solomon, or Greg Marak. ******** Under Section 466(b), of the Higher Education Act of…

September 26, 2019 · by mlivolsi · Spark Notes

COHEAO recommends that all institutions review their Perkins loan portfolio and confirm that procedures are in place to ensure all defaulted accounts receive at least a yearly attempt to collect the debt.  If during this review, institutions identify accounts that have not been worked adequately, immediately begin collection activity either internally or via a third-party…

September 19, 2019 · by mlivolsi · Spark Notes

The Senate Appropriations Committee has just made public its version of legislation funding the Department of Education in Fiscal Year 2020, which begins on Oct. 1, 2019.  The legislation, like the version passed by the House of Representatives earlier this year, again includes authorization for the Department to pay institutions to service Perkins Loans.  Since…

September 11, 2019 · by mlivolsi · Spark Notes

After years of advocacy from COHEAO, earlier today, the Department of Education (ED) posted a notice, “Distribution of Assets from the Perkins Loan Revolving Fund and the Reimbursement for Perkins Service Cancellations,” announcing that ED has determined it has the authority to reimburse institutions for their institutional share of Perkins Loan Service Cancellations. The notice…

June 26, 2019 · by mlivolsi · Spark Notes

Yesterday, June 25, 2019, the House Judiciary Subcommittee on Anti-Trust, Commercial and Administrative Law held a hearing, “Oversight of Bankruptcy Law and Legislative Proposals.” The hearing was billed as covering several pieces of legislation, but about 75 percent of the testimony and questions by Subcommittee members was about making it easier to discharge student loans,…

May 30, 2019 · by mlivolsi · Spark Notes

On Friday, May 24, the Department of Education (ED) posted an announcement, “Federal Perkins Loan Program – Delay of Revolving Fund Distribution of Assets” that clearly shows ED leaders are planning to allow institutions to be reimbursed for their share of cancelled loans. In the notice, ED said it decided to halt a required distribution…

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