NACUBO On Your Side: October 18–24, 2022
10/24/2022
As things move quickly in Washington, DC, NACUBO is your constant advocate in action. NACUBO On Your Side covers important legislative and agency activity NACUBO staff are tracking, what we’re currently advocating for, and how you can take action with us.
Here are the issues we are tracking and advocating for this week.
Agency Action
IRS Warns Employers About Firms Promoting Employee Retention Credits Claims
The IRS is cautioning employers about unscrupulous practices of some third-party firms using aggressive marketing and direct solicitations to urge clients to pursue employee retention credits for which they may not be eligible. An October 19 news release explains the eligibility requirements and rules for obtaining the credit.
ED Releases FY19 Cohort Default Rates
Earlier this month, the Department of Education published its latest set of cohort default rates (CDR), which look at borrowers who entered repayment on federal student loans between October 1, 2018, and September 30, 2021. Due in part to the pandemic-related pause on repayments, the overall CDR dropped significantly to 2.3 percent, down from 7.3 percent in 2021.
Research
National Research Reports Wide-Ranging Enrollment Declines for Fall 2022
The National Student Clearinghouse Research Center’s Fall 2022 Stay Informed report found that undergraduate enrollment declined by 1.1 percent in 2022 compared to 2021, leading to a total decline of 4.1 percent since 2020. The report allows users to filter by a variety of institutional and demographic indicators to see how different institution types are performing.
Take Action
Participate in GASB’s Survey on Subsequent Events
The Governmental Accounting Standards Board (GASB) is conducting a survey of financial statement preparers to gather information on subsequent events. This year-old project seeks to evaluate the effectiveness of existing guidance. Your participation will ensure that higher education has a voice in this effort.
