By Marlene Seeklander The national student loan default rate rose slightly from 0% to .4% – after remaining at 0% for the past three years. The Department of Education (the Department) released their FY 2023 national default briefing and, as expected, the FY 2023 cohort default rates were affected by the pause on federal
FY 2023 national default rate briefing released Read More »
By Marlene Seeklander Financial aid offices received their latest student loan default rates in late September. The Department of Education announced the distribution of the FY 2023 official cohort default rate (CDR) notification packages to schools enrolled in the Electronic Cohort Default Rate (eCDR) process via the Student Aid Internet Gateway (SAIG) mailbox. The package included
Release of FY 2023 official cohort default rates Read More »
By Marlene Seeklander Financial aid and college access professionals will want to review the 2027-28 FAFSA Presentation for a recent updated scenario. An October 5 update to a September 3 Electronic Announcement from Federal Student Aid (FSA) states that a missing slide about parent assets to the Dependent Student – Required Parent scenario has now been
2027-28 FAFSA Preview Presentation updated by Federal Student Aid Read More »
By Marlene Seeklander Borrowers with defaulted federal student loans could now get on the path to repayment with a new website aimed at helping them understand their options. In a September 30 press release, the U.S. Department of Education and the U.S. Department of the Treasury announced the launch of the Defaulted Loans Support Center. The
By Marlene Seeklander Swatting incidents are growing problem for education institutions as well as law enforcement. And the Department of Education is encouraging institutions to be prepared to respond. In a September 25 Dear Colleague Letter (DCL), the Department of Education stressed the importance of educational institutions, including institutions of higher education and state and local
Department of Education provides guidance to educational institutions on swatting events Read More »
By Marlene Seeklander With the latest EDExpress release, users should notice improvements with installation and with the functionality of the software, EDExpress users now have access to the EDExpress for Windows 2027-28, Release 1.0 software, which introduces a new database format and includes changes implemented during the 2027-28 FAFSA beta testing. In a recent Electronic Announcement,
EDExpress for Windows 2027-28, Release 1.0 now available Read More »
By Marlene Seeklander Financial aid professionals and other industry partners will have the opportunity to attend the in-person Federal Student Aid (FSA) Conference in December. Federal Student Aid (FSA) announced the in-person training conference that will be held December 14-16 at the Gaylord National Resort & Convention Center in Oxon Hill, Maryland. The agenda will include
Federal Student Aid Training Conference to be held December 14-16, 2026 Read More »
By Marlene Seeklander Students and parents can now complete the 2027-28 FAFSA – in advance of the Congressionally mandated release date of October 1. The early release of the FAFSA enables students and families to get a head start on preparing for the 2027-28 academic year. Once the FAFSA is completed, students and parents can focus
2027-28 FAFSA now available for all students and contributors Read More »
By Marlene Seeklander Student loans now total more than $1.7 trillion with nearly 14 percent or $234 billion of the federal student loan portfolio in default. The federally managed portfolio—which includes FFEL and Perkins program loans owned by the U.S. Department of Education (ED) and Direct Loans—is more than $1.64 trillion, representing more than 95 percent
Updated reports posted by Federal Student Aid to FSA Data Center Read More »
By Marlene Seeklander The Department of Education will transfer its Federal Perkins Loan portfolio to a new servicer on December 1, and the move could impact some schools as well as borrowers. In a recent Electronic Announcement, the Department of Education outlined the schedule, which could impact those schools planning to assign their Perkins loans to
Transition to new Perkins Loan servicer to impact schools and borrowers Read More »
