NACUBO On Your Side: February 7–13, 2023
2/13/2023
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
State of the Union Address Alludes to Administration’s Higher Education Priorities
President Joe Biden delivered his State of the Union address on Tuesday, February 7, and included several requests for the higher education sector among his objectives. He mentioned investments in community colleges as a bridge to the workforce and four-year degrees, as well as an increase in the maximum Pell Grant Award and funding for Historically Black Colleges and Universities. All of these themes were central to Biden's presidential campaign and his 2020 budget request, Build Back Better. NACUBO and applauds the president for continuing to emphasize higher education and urges Congress to act on these critical issues.
Agency Action
FSA Refuses to Commit to FAFSA Launch Date
Speaking to an audience at a National Association of Student Financial Aid Administrators event, officials from the Office of Federal Student Aid (FSA) did not commit to an October 1 launch for the 2024-25 Federal Application for Free Student Aid (FAFSA), which is being redesigned per the FAFSA Simplification Act of 2020. Instead, FSA officials stated they may work up to their legal deadline of January 1, 2024. Such a delay would put significant strain on students who may otherwise file in the fall, and on the institutions to which they might apply. Officials stated they would share a concrete launch date in the coming months.
Accounting
GASB Issues Exposure Drafts for Implementation Guidance Updates
The Governmental Accounting Standards Board (GASB) has issued two exposure drafts for updates to its Comprehensive Implementation Guide. NACUBO’s January 30 comment letter addressed the first proposal. The second draft contains an additional Q&A on a new issue: whether cloud computing arrangements are subscription-based information technology arrangements under Statement No. 96. NACUBO’s preliminary thoughts are that the question obscures the issue and does not provide additional clarity. Comments are due to GASB by March 10. NACUBO encourages institutions to submit comments or let us know their concerns.
