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.
Federal Agencies Release Equity Action Plans
The Equity Action Plans, released April 14 by approximately 90 federal agencies, are aimed at opening federal programs to more people and reducing racial disparities. The Department of Education’s plan includes advancing college access and completion by investing in Historically Black Colleges and Universities, Tribally Controlled Institutions, and Minority-Serving Institutions, and supporting schools to raise college completion rates for underserved students.
ED Updates Guidance on Perkins Assignments, Liquidation
The Department of Education recently announced it had updated its Federal Perkins Loan Assignment and Liquidation Guide to reflect a change in the assignment and operations procedures for loans that have missing or defective promissory notes. The guide also has been updated to provide clarity on the steps involved for liquidation and closeout of the Perkins Loan Program.
ED Announces Fixes to Two Student Loan Programs
On April 19, The Department of Education shared that it plans to fix “historical failures” in student loan programs to assist student borrowers. ED estimates these actions will help at least 3.6 million borrowers move closer to debt forgiveness through Income-Driven Repayment (IDR), with an additional 40,000 receiving immediate relief under the Public Services Loan Forgiveness (PSLF) Program. ED intends to conduct a one-time account adjustment to count certain long-term forbearances toward IDR and PSLF forgiveness. Any months for which borrowers made payments will count toward IDR, regardless of the repayment plan.
Student Aid Alliance Asks Congress for More Student Support
On April 19, the Student Aid Alliance (SAA), of which NACUBO is a member, sent a letter to Congressional leaders on the Appropriations Subcommittees on Labor, Health and Human Services, and Education, requesting greater investments in student aid programs for FY23. Citing low enrollment rates and the ongoing pandemic, the letter calls for increasing the maximum Pell Grant award to $13,000, along with increases to the Federal Work-Study, SEOG, TRIO, GEAR UP, GAANN, and LEAP programs.
NACUBO On Your Side: March 28, 2022–April 4, 2022