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Seeking Opportunities & Meeting Challenges – A Washington Update

Get the latest update on the goals of the Administration, Congress activities, and what it all means beyond the beltway. Explore changes in student loan interest rates, proposed regulatory rulemaking, and additional accountability measures. Discover how to navigate the current state of play in higher education funding.

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Seeking Opportunities & Meeting Challenges – A Washington Update

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  1. Seeking Opportunities & Meeting Challenges – A Washington Update MASFAA Annual Conference May 23, 2013 Brett Lief, Inceptia

  2. Current State of Play What are the goals of the Administration? What is Congress up to? What this all means beyond the beltway?

  3. Administration • FY14 Budget Proposals

  4. Budget Proposals • New Direct Perkins Loan • Funding increased $1 billion to $8 billion • 2000 additional schools • No school involvement in repayment or collection • Closeout of existing portfolio • Pell Grant Increase • Add $140 to current level = $5,785 • Campus-based Funding Formula Change • Reward schools serving high-need students and setting responsible tuition policies • Federal Work Study - Additional $150 million • SEOG Continued Funding

  5. Sequestration – Major Provisions • Pell • No change 2012-13 and 2013-14 • FSEOG/FWS • No change 2012-13, awards reduced 2013-14 • Direct Loan fees • Increased 1.0% to 1.051% • Direct Loan PLUS • Increased 4.0% to 4.204% • Changes to non-profit direct loan servicers

  6. Proposed Regulatory Rulemaking • Begin September 2013 • Fraud Prevention & Detection • Gainful Employment • Cash Management • State Authorization • Clock to Credit Hour Conversion • Campus Safety and Security • PLUS Loan & Adverse Credit • Other Items Determined by Negotiators

  7. Student Loan Interest Rate What is Congress up to?

  8. Congressional Interest Rate Proposals

  9. What Does It Mean Beyond The Beltway

  10. Three Stages of School Awareness

  11. Nothing is New

  12. In the Beginning • Society benefited from educated workforce • Grants provided access, Loans provided choice • Role of government was to stand behind student

  13. How things have changed

  14. In the Beginning • Society benefited from educated workforce • Grants provided access, Loans provided choice • Role of government was to stand behind student

  15. How Things Have Changed • Belief that individuals, not society, benefit from postsecondary education and training • Loans provide both access and choice • Government is positioning itself between students and schools • Additional school accountability

  16. Additional Accountability:You are Being Watched… • Special Audit Services – Improper Payments Elimination and Recovery Act of 2010 • Consumer Financial Protection Bureau • Financial Aid “Shopping Sheet”

  17. Perception of Who Benefits

  18. What is next?

  19. Change is Here • Data driven • State cooperation • Analysis of programs serving today’s generation

  20. Rebalance • Access • Affordability • Accountability • Austerity

  21. “The strength of the United States is not the gold at Fort Knox or the weapons of mass destruction that we have, but the sum total of the education and the character of our people.” Senator Claiborne Pell (D-RI)

  22. Questions

  23. Brett Lief Contact Information brettl@Inceptia.org

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