|Understanding Sequestration and the Impact at Colleges and Universities|
Regardless of size or sector, college students and higher education institutions will be impacted in a myriad of ways by the reductions in federal spending due to sequestration. On March 2, the Marine Corps halted new enrollments in the Tuition Assistance Program, and on March 4, the IRS announced that payments to Build American Bond issuers will be reduced by 8.7%; both moves are due to sequestration.
2012 Endowment Study Final Report Now AvailableThe 2012 NACUBO-Commonfund Study of Endowments (NCSE) final report is now available online. The online product provides instant access to all tables and other results from the study. The 2012 NCSE report is based on information collected from 831 U.S. college and university endowments and affiliated foundations, with total endowment assets of $406.1 billion.
Student Health Insurance To Be Rated SeparatelyIn a move intended to keep student health insurance affordable, final rules will not subject it to the single-risk pool requirement under the Affordable Care Act. The Department of Health and Human Services rules also finalized exemptions from guaranteed availability and renewability requirements for student coverage and will allow flexibility in scheduling of open enrollment periods.
New Report Tracks Growing Student Resident Network ServicesThe 2013 ACUTA/NACUBO State of ResNet Report finds that 61 percent of institutions expect the costs of providing on-campus residential network services to students to rise over the next two years, with nearly half of respondents expecting costs to rise by 5 percent or more.
ED Extends Deadline for Experimental Sites InitiativeThe Department of Education has extended the period in which institutions can apply for participation in the Experimental Sites Initiative. The new deadline is April 30.
View Questions for 2013 SFS Benchmarking SurveyTo preview the questions before completing the online survey, visit the new Student Financial Services Survey Web site. Contact NACUBO’s research staff if your institution has not received an email invitation to participate.
CFPB Issues RFI on Private Student Loan AffordabilityThe Consumer Financial Protection Bureau has issued a Request for Information to determine options that would increase the availability of affordable payment plans for borrowers with existing private student loans. Responses are due April 8.
Donations to Colleges and Universities Rise Just 2.3 Percent in FY12Higher education institutions raised $31 billion in financial gifts in fiscal year 2012, according to the new Voluntary Support of Education survey. The amount raised in FY12 represents a 2.3 percent rise over the amount received in FY11.
Standard and Poor’s Outlook for Higher Education in 2013On February 25, Standard and Poor's conducted a teleconference and released an article on their view of the higher education sector for 2013. Their credit ratings analysts discussed issues such as revenue constraints, deferred maintenance issues, tuition affordability, and an increasing need for risk management and entrepreneurial thinking. Both products are available on the Standard and Poor's Web site.
Federal Auditing Information Service (FAIS)
Financial Accounting and Reporting Manual (FARM)