NACUBO Updates Student Agreement Language to Address Assessment of Collection Fees
NACUBO’s updated advisory, Best Practices for Student Financial Responsibility Agreements, includes model language for the agreements and addresses court decisions affecting the ability of an institution to recover costs associated with collections, among other topics of interest to business officers.
ED Shares Details on New Borrower Defense Policy
When considering approved borrower defense to repayment claims, the Department of Education will now apply a presumption of full relief as the starting point and will reduce the amount of relief offered, if warranted, by evidence provided by a school, a borrower, or other sources.
2021 NACUBO Student Financial Services Benchmarking Report Released
New data indicate electronic student payments and credit balance refunds have continued to increase during the COVID-19 pandemic. The report also provides benchmarking data on several other measures, including: student account and loan receivables; third-party payments; staffing; and expenditures for student financial services.