In this special episode of “Off The Cuff,” NASFAA President Justin Draeger sits down with Ben Miller of the Center for American Progress (CAP) to dissect Education Secretary Betsy DeVos’ new methodology for calculating partial debt relief for student borrowers. Earlier this month, DeVos announced that she would begin awarding loan forgiveness on a sliding scale by comparing the median earnings of graduates with borrower defense claims to the median earnings of graduates in comparable programs. The higher education community was quick to denounce her calculations for what appeared to be faulty math, which was also highlighted in a recent hearing she appeared in on pending borrower defense cases. In the interview, Ben digs into the complications inherent in partial debt relief and questions DeVos’ claim that it protects taxpayer integrity, and explains why a borrower may need to report negative earnings to qualify for full debt relief under the new plan. “Off The Cuff” will return to its regularly-scheduled content after the holidays!
This week on “Off The Cuff,” Justin, Megan, Jill, and Allie delve into a House hearing featuring Education Secretary Betsy DeVos on the status of outstanding borrower defense cases. First, at 7:45, Allie recaps a new methodology DeVos announced this week for calculating partial relief for students seeking forgiveness under the regulations, and why higher education experts were quick to denounce it. Following a discussion about DeVos’ new plans and testimony on the Hill, at 28:16 Megan shares promising news about the Fostering Undergraduate Talent by Unlocking Resources for Education (FUTURE) Act. Finally, at 34:57 Jill dives into proposed rules for the TEACH Grant program and faith-based entities for which the Department of Education (ED) is seeking public comment. Plus, the team poses a new question to listeners: What is the one luxury that you indulge in once in a while? Tune in next week for a special episode in which Justin dives into DeVos’ new methodology for debt relief with Ben Miller of the Center for American Progress.
This week on "Off The Cuff," Justin, Megan, Jill, and Allie discuss financial aid developments coming out of Reno, Nevada, at the annual Federal Student Aid (FSA) Training Conference. First, at 10:50, Allie talks about Education Secretary Betsy DeVos’ suggestion that FSA should be a stand-alone agency. At 20:55, Jill delves into new data released during the conference showing less FAFSA applications selected for verification due to new technology, and recaps a session focused on a possible federal income-share agreement experiment. And at 35:43, Megan talks about a Senate-amended version of the House-passed Fostering Undergraduate Talent by Unlocking Resources for Education (FUTURE) Act, which would provide $255 million in permanent, annual mandatory funding to Minority-Serving Institutions (MSIs) and simplify the financial aid application, verification, and student loan repayment process. Plus, the team poses a new question to listeners: What would be your ideal location for an FSA Conference?