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Dear Colleague Letter:  The U.S. Department of Education has provided a letter from Secretary DeVos to Chief State School and Institution of Higher Education Officers regarding Disaster Assistance for Hurricanes Harvey, Irma and Maria and the 2017 California wildfires. Read the announcement

According to a new Financial Literacy Survey conducted for TD Ameritrade Holding Corporation (Nasdaq: AMTD), 76% of investors say the more educated they are about investing, the better they can manage their money.   Read the article 

Federal Student Aid has consolidated its cybersecurity compliance information and resource page.  The data has been organized into key topical areas, including:  Regulations, Tools, Documents and FY18 Audit Lanaguage.  Additionally there is information regarding:  Reporting a breach, Alerts, Contact Information, Training and Conferences, as well as Related Links.  To access the FSA Cybersecurity Compliance page

Federal Student Aid has announced the availability of the new National Student Loan Data System (NSLDS®) School Change of Affiliation (COA) for Cohort Default Rate (CDR) Report (SCHCD1). The School COA for CDR Report provides school users with contact and loan information for all borrowers who may impact the school’s cohort default rate as a result of a change of affiliation. Specifically, schools involved in mergers or acquisitions should find this report useful.  To read the announcement

National Credit Union Administration (NCUA) releases information to Federal Insured Credit Unions to help them prepare for their next NCUA examination.  NCUA's primary areas of sueprvisory focus in 2018 are:  Cybersecurity Assessment, Bank Secrecy Act Compliance, Internal Controls and Fraud Prevention, Interest Rate and Liquidity Risk, Automobile Lending, Commercial Lending, Consumer Lending and Consumer Compliance.  To view Letter No.:  17-CU-09

ACA International shares the 2017 Earnst & Young survey which demonstrates an overview of the economic importance of U.S. third-party debt collection industry, as well as individual state economies.  To access the survey

Press Release:  Secretary of Education, Betsy DeVos announced that $10.4 million in additional funding will be available to assist students at more than 900 schools affected by the recent natural disasters.  Read the release

Effective January 29, 2018, The National Credit Union Foundation (NCUF) has announced the addition of Chad Helminak as the new Director of Credit Union Development and Cooperative Values Engagement.  Read the press release

Press Release:  Secretary DeVos Praises Senate Action on FAFSA Simplification.   Read the release

Press Release:  The U.S. Department of Education takes the next step in tranforming the delivery of financial aid to millions of students and their families.   Read the release

InsideARM shared that a federal judge ruled against Leandra English, former Consumer Financial Protection Bureau (CFPB) Director Richard Cordray's pick to be the bureau's interim director. English had filed a lawsuit to stop Mick Mulvaney, President Trump's pick for the job, from assuming the role.  Read the article 

National Council of Higher Education Resources (NCHER) creates an infographic that share four points that will help keep borrowers safe:  1) Notice fake government seals and logos; 2) Never pay for help; 3) Keep your Federal Student Aid ID private; and 4) Fast student loan forgiveness does not exist..  To view the infographic

Dear Colleague Letter:  The U.S. Department of Education provided additional ifnormation on the wind-down of the Federal Perkins Loan Program.   This letter provided important information related to the:

(1) Expiration of the authority to make new Federal Perkins Loans

(2) Distribution of the assets of institutions' Federal Perkins Loan Revolving Fund

(3) Assignment of Perkins Loans to the U.S. Department of Education (the Department).  Read the letter

Electronic Announcement:  The U.S. Department of Education distributed the FY 2014 official cohort default rates (CDR) notification packages to all eligible domestic and foreign schools only.  Read the announcement

Electronic Announcement:  The U.S. Department of Education has provided the National Default Rate Briefings for FY 2014 Official cohort default rates. Read the announcement

Electronic Announcement:  Federal Student aid has consolidated its cybersecurity compliance information and resources.  Click here to access the link

Electronic Announcement:  The U.S. Department of Education shares information about the Default Reduction Assistance Program (DRAP).  This program assists schools in contacting defaulted Federal Perkins Loan borrowers before their accounts are sent to collection agencies.  Read the announcement

Electronic Announcement:  The U.S. Department of Education has provided guidance to Title IV participants affected by Hurricane Harvey.  Read the announcement

FDIC Disaster Responsiveness Site:  General preparedness information and state specific information for state and federal banking agencies and other organizations may be obtained through FDIC.  Click here to learn more

For an update on Hurricane Harvey, please click here.  For support with Frequently Asked Questions for Bank Customers in Areas Affected by Hurricane Harvey, please click here to learn more.

Electronic Announcement:  The U.S. Department of Education has posted a report that notifies the community of the approved awards for campus-based programs for the 2017-2018 Award Year.   Click here to access the notification

Kelly Cochran, Assistant Director for Regulations at the CFPB posted a blog titled:  Spring 2017 rulemaking agenda.  This blog provides guidelines on new timelines for the Notice of Proposed Rulemeaking (NPRM) for debt collection.  Read the blog

Tim Bauer, President insideARM shares changes to West Virginia Debt Collection Laws that are now in effect.
Read the article

Electronic Announcement:  The U.S. Department of Education has posted the Federal Perkins Loan Program Status of Default as of June 30, 2016, known as the Orange Book. "The Orange Book as of June 30, 2016". Read the announcement

InsideARM shared that the CFPB Director Richard Cordray announced that the Bureau will be separating the "right consumer, right amount" aspect of its debt collection rulemaking in order to ensure that complexities are properly addressed by intertwining rules for both creditors and their clients.  Read the announcement 

Electronic Announcement:  The U.S. Department of Education has announced the availability of the 2017 Program Review Guide for Institutions. Read the announcement

The Department of Education's Privacy Technical Assistance Center (PTAC) has published a guide for the use of student financial aid information for program evaluation and reserach.  More PTAC information is available at  Read the announcement

Federal Student Aid released an Electronic Announcement that shows the method by which a taxfiler can request and receive verification documents from the IRS.  Read the announcement

The U.S. Department of Education shared specific information to assist schools in reconciling the Federal Pell Grant (Pell Grant) Program.  It was recommended that both the Financial Aid Office and the Business Office review the information provided in this announcement.  Read the announcement

The U.S. Department of Education shared general information with the financial aid community about reporting student loan interest payments for 2016.  Read the announcement

The U.S. Department of Education announces the availability of Volume 1 - Student Eligibility of the 2017-2018 Federal Student Aid Handbook.  Read the announcement


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