GAO Reports on College Credit Card Affinity Agreements
A mandate in the Credit Card Accountability Responsibility and Disclosure Act of 2009 required GAO to examine campus credit card marketing affinity agreements and their effect on student debt. GAO released its final report on February 25. GAO found that student-focused marketing on campus has declined, there are fewer college agreements, and affinity payments have declined. GAO also reports, “The effect of affinity cards on student credit card debt may be limited because fewer students appear to hold these cards, which generally have not been marketed to students since at least 2009.”
Audit Report Calls for Changes to Title IV Aid Disbursement
On February 21, the U.S. Department of Education (ED) Office of Inspector General made public its audit findings, "Title IV of the Higher Education Act Programs: Additional Safeguards Are Needed to Help Mitigate the Risks That Are Unique to the Distance Education Environment." The report calls for significant changes in student verification, disbursement of Title IV funds, and determining cost of attendance.
NACUBO Comments on IRS Campaign Activity Rules
NACUBO joined the American Council on Education and 55 other higher education organizations to respond to IRS-proposed restrictions on campaign-related activities for 501(c)4 organizations. In the proposal, IRS questioned whether the rules should extend to 501(c)3 organizations. In their response letter, the education groups asserted that if the IRS were to expand the new standards to colleges and universities, it would “fundamentally damage the role that colleges and universities have played for hundreds of years in encouraging civic learning and democratic engagement.”