If you have been watching the movement on the interest rates, you will notice that there isn’t much. Even Justin Draeger is indicating that no action on the part of Congress to do something about the interest rate expiration by July 1 is a distinct possibility. Congress is turning its attention to issues of immigration debate this week – so interest rate solutions are taking a back seat. Shortly after the two “no” votes, the Obama administration issued a statement supporting the proposed Democratic extension – totally switching gears from their earlier statements of support. At this moment – no one knows what is going to happen in July. Stay tuned.
Several Ways You Can Get Involved:
1) Brush up on Negotiated Rulemaking: http://www2.ed.gov/policy/highered/reg/hearulemaking/2012/index.html The Department has just finished its final public hearing for the establishment of the next negotiated rule-making committee. The suggested topics are posted and available for you to view. Find out what the Department will be digging into in the coming months and years.
2) Have you seen the Interim Rules for the 150% Direct Subsidized Loan Limit yet? If you haven’t read them, you need to. Jeff Baker posted an Electronic Announcement on May 16, 2013 with links to the regs and an earlier Dear Colleague letter. There are things in there that they want institutions to begin doing NOW. Make sure you are up to speed.
3) It’s not too late to give your suggestions to the Reauthorization Task Force to put in their report and add your voice to the growing number of recommendations that the financial aid community is supporting. Check out NASFAA’s page devoted to this topic: http://www.nasfaa.org/Main/orig/2013/rtf/Higher_Education_Act_Reauthorization.aspx. You can, of course, always speak directly to your Senator or Congressman. If you choose to comment in this way, NASFAA asks that you copy them on your comments so they know what is being communicated.
Director of Financial Aid, AFC
100 College St
Winfield, KS 67156
“Saruman believes it is only great power that can hold evil in check, but that is not what I have found. I have found it is the small everyday deeds of ordinary folk that keep the darkness at bay….small acts of kindness and love.” Gandolf to Galadriel – The Hobbit