FFY2020 Budget Proposoal-ED

Find below a link to the administration’s federal FY2020 budget proposal for ED.  Contact your federal representatives requesting they support the programs that meet and sufficiently support the needs of your students/institution.

https://www2.ed.gov/about/overview/budget/budget20/summary/20summary.pdf

 

FSA News

Home

U.S. Department of Education

Secretary DeVos Names Mark A. Brown the New Chief Operating Officer of FSA

MARCH 4, 2019

WASHINGTON – U.S. Secretary of Education Betsy DeVos announced today Mark A. Brown has been appointed chief operating officer of Federal Student Aid (FSA).

“We are thrilled Mark has agreed to lead the continued efforts to transform and modernize FSA,” said Secretary DeVos. “He comes to us with more than 32 years of military service and brings a deep understanding of large-scale organizational leadership and complex financial processes, as well as a sense of duty to America’s students. He will be a tremendous asset to our organization, students and taxpayers. Mark will have big shoes to fill as our long-time colleague and current Acting COO of FSA Jim Manning retires from public service for a second time.”

Mark Brown is a retired major general in the U.S. Air Force (USAF), with over 32 years of service to our country. Most recently, he served as the deputy commander for the Air Education and Training Command, where he was responsible for Air Force education, as well as basic and technical training. Prior to that, he served in a series of roles across the USAF, including commander of the 2nd Air Force, director of Financial Management and comptroller and Mission Support Group commander. During his time as CFO of the Air Force Material Command, he was charged with overseeing a $67 billion portfolio, with budget and financial planning responsibilities that provided vital services to support command units around the world. He also served as the congressional liaison to the House and Senate Appropriations Military Sub-Committees.

Brown holds a bachelor’s degree in accounting from Tuskegee University, a master’s degree in public administration from Troy State University, a master’s degree in strategic studies from the Air Command and Staff College and a master’s degree of national security strategy from the National Defense University.

Dr. A. Wayne Johnson will remain FSA’s chief strategy and transformation officer, continuing his work on the Next Generation (Next Gen) financial services environment which aims to modernize the technology and operational components that support FSA programs from application through repayment.

Know Before You Owe

Student loan stakeholders continue to seek solutions to better inform student loan borrowers of about their rights and responsibilities as well as loan terms.  In a recent communication to ED and CFPB the Consumer Bankers Association of private lenders offers useful advice and recommendations.

The CBA “Know Before You Owe” initiative and their recommendations can be accessed at;

https://www.consumerbankers.com/sites/default/files/CBA%20Letters%20to%20Ed%20and%20CFPB.pdf

New York’s DREAM Act is a reality, but challenges remain for getting undocumented students to apply for financial aid

Five years after fleeing a violent militant group in Nigeria, Ifeanyi Ejiogu is on the pathway to earning asylum in the United States. Still, the Bronx high school senior’s first instinct when meeting new people is to watch every word.

That fear is a major concern for advocates, educators, and students who are celebrating the recent passage of the Jose Peralta New York State DREAM Act, which would allow undocumented students to receive financial aid to attend New York colleges. Gov. Andrew Cuomo is expected to sign the bill, which comes with a recommended $27 million for tuition assistance, by April.

New York’s DREAM Act is a reality, but challenges remain for getting undocumented students to apply for financial aid

Student Loan Delinquency News

The New York Federal Reserve reports that while general consumer credit quality has improved since the financial crisis, student loan delinquencies has increased to near record levels.  Ninety-day delinquencies on student loans first hit double digits in the third quarter of 2013 and have hovered between 10.7% and 11.8% in every quarter since. They ended 2018 at 11.42%.