Welcome to 2020, there is plenty of legislative activity to summarize as we enter the New Year. On December 19, 2019, President Trump signed into law, H.R. 5363, the Fostering Undergraduate Talent by Unlocking Resources for Education Act (Future Act), a "mini reauthorization" of certain aspects of the Higher Education Act (HEA). As reported in our December 2019 Washington Insights, the Future Act permanently reauthorizes $255 million in annual funding for Historically Black Colleges and Universities and other minority-serving institutions. The law also reduces the number of questions on the FAFSA and streamlines the income-driven repayment process by allowing the Department of Education (USDE) and the Internal Revenue Service to exchange student tax information.
Last week, the House passed legislation that would overturn the borrower defense rule that makes it more difficult for students who claim they were defrauded by their college to receive loan forgiveness. Recall that earlier this month, Senate Democratic Whip Dick Durbin (D-IL) urged fellow Senators to overturn the borrower defense rule by supporting his Congressional Review Act resolution. The legislation will now head to the Senate for consideration.Read the January 2020 Washington Insights.
Washington Insights provides the latest news, guidance, and inside-the-beltway advice on the complex subject of financial aid in higher education. Washington Insights is prepared by Dr. Sharon Bob, Ph.D., the Distance Education Accrediting Commission's Special Consultant on Student Aid.