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.
On the Hill
Federal Lawmakers Propose Strict Rules for Endowments and College Costs
Adding to the focus on higher education policies in Washington, DC, some politicians have introduced legislation that, if passed, would have severe implications for colleges and universities.
Hogan Lovells Provides Section 117 Analysis
In July, the Department of Education released and subsequently updated guidance on Section 117 of the Higher Education Act, which requires that colleges and universities disclose certain gifts from and contracts with foreign sources. Last week, law firm Hogan Lovells released an advisory analyzing ED’s most recent guidance, with recommendations for institutions to follow. The next Section 117 reporting deadline is January 31, 2023.
NBER Research Examines Endowment Spending Practices
The National Bureau of Economic Research (NBER) has released a working paper, “The Effect of College and University Endowments on Financial Aid, Admissions, and Student Composition.” In analyzing endowment giving, growth, and spending, the authors found that institutions in general appear to use endowment wealth to spend and become more selective but not to increase the size or diversity of their student bodies.
Independent Sector Poll Finds Support for Universal Charitable Deduction
In a recent nationwide poll, Independent Sector found that 85 percent of voters support restoring the universal charitable deduction for all taxpayers and a majority support expanding the deduction to $4,000 for all Americans. As a member of the Charitable Giving Coalition, NACUBO continues to advocate alongside Independent Sector and others in support reinstating the universal charitable deduction.
ACE’s Lead Lobbyist Announces Retirement
The American Council on Education (ACE) has announced that Terry Hartle, senior vice president for government relations and public affairs, plans to retire at the end of this year. Hartle has been with ACE for over 25 years and has advocated extensively on behalf of colleges and universities.
Engage with NACUBO’s Newest Brief
Our latest State of Higher Education series brief, Higher Education’s Top 5 Business Issues, is now available. The piece incorporates insights from NACUBO members as well as research and publications from the broader higher education community.
NACUBO On Your Side: September 13–19, 2022