ED Extends Deadline for Mandatory Defaulted Perkins Assignments
Schools with Perkins Loans that have been in default for over two years will now have until June 30, 2023, to either assign the loans to the Department of Education or purchase the loans.
New Report Shows Cost—Not Revenue—of Federal Student Loan Program
A report from the Government Accountability Office shows that while the Federal Direct Loan Program was originally estimated to generate $114 billion over 25 years, it has actually cost the government an estimated $197 billion. The swing was driven by programmatic changes and new estimates using revised economic and loan-performance data.
CFPB Describes Transcript Holds as “Abusive”
A recent report from the consumer watchdog calls on schools to discontinue blanket policies for withholding transcripts as a tool to force students to make payments. NACUBO plans to respond with a letter expressing concerns with the CFPB’s position.