Congress Troubled by College Costs
In recent weeks, Congressional committees in both the Senate and House of Representatives held hearings to examine college affordability and explore approaches to tackling accessibility and cost challenges.

Financial Aid Shopping Sheet Unveiled
The Department of Education has released a new, standardized financial aid award letter format and encourages colleges and universities to use it for the 2013-14 year.

Maximum Benefit Increases for Post-9/11 GI Bill
Independent institutions will see veterans’ maximum Post-9/11 GI Bill benefits increase to $18,077.50 on August 1, up from $17,500.

Consumer Financial Protection Bureau Reports on Private Student Loans
A new report released by the Consumer Financial Protection Bureau summarizes the $150 billion private student loan market and offers several recommendations for legislators and policy makers.

NACUBO Supports FASB’s Donated Securities Proposal
Recent NACUBO comments commend the Financial Accounting Standards Board for tackling reporting inconsistencies related to donated securities. FASB’s proposal would allow independent institutions to treat donated securities that are immediately converted to cash as operating activities in the Statement of Cash Flows.

Total Student Debt Hits $901 Billion
Federal Reserve Bank data show total student loan debt has climbed consistently during the last seven years and now stands at a staggering $901 billion.

ED Proposes Changes to Loan Rules
The Department of Education published proposed rule changes that would create another extended payment option for Direct Loan program borrowers, implement statutory changes to the existing Income Based Repayment (IBR) plan, and streamline the application process for total and permanent disability discharges.