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ED Releases CCRAA Final Regulations
(October 2008) On Thursday, October 23, 2008, the Department of Education issued Final Regulations in the Federal Register for the “College Cost Reduction and Access Act of 2008” (CCRAA), PL 110-84, for the FFEL, Direct Loan, and Perkins Loan programs.
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Economic Hardship Deferment
Congress eliminated the 20/220 rule from the HEA and replaced it with the new IBR plan, which the Department believes “will provide assistance to more borrowers with high levels of debt over a much longer period of limited earnings than the economic hardship deferment.”
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HEOA Changes
In addition to the changes necessary to implement provisions of the CCRAA, the final regulations also incorporate certain changes made to the Higher Education Act by the recent Higher Education Opportunity Act (HEOA) (Pub. L. 110–315). All Department regulations for programs authorized under title IV of the HEA are subject to the negotiated rulemaking requirements and the Department is generally required to publish an NPRM and provide the public with an opportunity to comment on proposed regulations prior to issuing final regulations. However, under the Administrative Procedure Act (APA), the agency is not required to conduct “notice-and-comment rulemaking” when it is unnecessary or contrary to the public interest.
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Congress Passes HEA Reauthorization….Finally!
(July 2008). On July 31, 2008 the House of Representatives and the Senate passed, HR 4137, the Higher Education Opportunity Act of 2008 which is the conference report for reauthorization of the Higher Education Act by a vote of 380-49 in the House and 83 – 8 (and 1 voting present) in the Senate. This legislation is a landmark for the Perkins Loan Program, since it demonstrates very strong support for the program in a number of ways.
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Senate and House Appropriations Committees Begin Work on LHHS FY09 Spending Bills
(June 24, 2008). The Senate Labor, HHS, Education Appropriations Subcommittee marked up the appropriations bill for the Department of Education today. The campus-based student aid programs were all level funded with the exception of the Perkins Loans. While Perkins Federal Capital Contributions were not funded, Perkins Loan cancellations received an additional $5.673 million to help with the shortfall. TRIO funds were increased by $10 million and GEAR UP was increased by $5 million. Pell Grants were funded at the same level as the President requested for a maximum award of $4,310 which is a $69 increase over FY2008.
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COHEAO Urges Grassroots Effort to Fund Perkins!
(June 2008). COHEAO needs your help to send letters to Members of Congress asking for funding for the Perkins Loan Program including the Federal Capital Contribution and reimbursements for cancelled loans. Please help in this effort by customizing and faxing or emailing this letter to members of the House and Senate. This is extremely important in order to support advocates in Congress who are working for Perkins Loan funding! We need to seize the chance to get Perkins Loan funding restored.
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COHEAO and NACUBO Survey Reveals Perkins Loan Shortfalls
(May 2008). Recently, the Coalition of Higher Education Assistance Organizations (COHEAO) partnered with the National Association of College and University Business Officers (NACUBO) to survey their membership about a possible shortfall in their Perkins Loan fund.
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ED Changes Rules on FISAP to Allow More Time to Repay Loans to Perkins Funds
(May 2008) In April, the Department of Education issued a Dear Colleague Letter providing information about the Fiscal Operations Report for 2007-08 and Application to Participate for 2009-2010 (FISAP) for the Federal Perkins Loan, Federal Supplemental Educational Opportunity Grant, and Federal Work Study programs.
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COHEAO Hosts Teleconference on Mandatory Assignment Regulations
(May 2008). On May 5, COHEAO hosted a teleconference on the new mandatory assignment regulations and what schools needs to know. Mandatory assignment is expanded by a new Education Department regulation scheduled to take effect July 1, unless the law is changed by Congress.
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COHEAO Submits Comments on HEA Reauthorization Conference
The Senate and House have started to conference the Higher Education Act reauthorization bill (S. 1642 and HR 4137). Last week, COHEAO sent a letter to Capitol Hill urging Members to include the reauthorization of the program in the Conference Report as well as the Perkins Loans Proposals included in H.R. 4137.
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Reps. Bishop and McMorris Rodgers Launch DCL Supporting Perkins
Congressman Tim Bishop (D-NY) and Congresswoman Cathy McMorris-Rodgers (R-WA) are circulating a Dear Colleague request asking House members to sign a letter to Chairman David Obey (D-WI) and Ranking Republican James Walsh (R-NY) of the House Appropriations Subcommittee on Labor, Health and Human Services and Education calling for the funding of the Perkins Loan program in FY 2009-- to put $100 million into the Federal Capital Contribution and fully fund loan cancellations. The letter also rejects the proposal by the Administration to eliminate the program. COHEAO members need to do everything we can to encourage Members of Congress to sign on to this letter. Please help in the effort to get signatures on this letter by calling or emailing the U.S. House!
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House Passes Higher Education Act Reauthorization
Thursday, February 7th, the House of Representatives passed HR 4137, the College Opportunity and Affordability Act of 2007 (Higher Education Act reauthorization) by a vote of 354-58. This legislation is a landmark for the Perkins Loan Program, since it demonstrates very strong support in the House for the program in a number of ways, only four days after the Administration again called for its destruction. COHEAO thanks the House for the strong bi-partisan support shown the Perkins Loan Program.
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President Calls for Elimination of Perkins
Today the President unveiled his budget proposal for FY 2009. The detailed appendix of the President’s FY 2009 budget for the Department of Education and other departments is now on line at: http://www.whitehouse.gov/omb/budget/fy2009/pdf/appendix/edu.pdf
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