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U.S. Department of Education offers the most up to date Information and Resources for Schools and School Personnel regarding COVID-19. Click here to access these resources
Coalition of Higher Education Assistance Organizations (COHEAO) shared a "Spark Note" regarding outreach to fight to restore the Perkins Loan servicing Administrative Cost Allowance (ACA). COHEAO and their members are looking for support from schools to contact legislators and staff who represent state Appropriations Committee. Click here to vist the COHEAO "Spark Notes"
U.S. Secretary of Education, Betsy DeVos announced that more than $6 billion in emergency cash grants will be distributed to colleges and universities impacted by COVID-19. To read this announcement
ED shares guidance to school officials that may have concerns regarding disclosure of personally identifiable information (PII) when addressing Coronavirus Disease (COVID-19). To access the page and download the document
ACA International shared with its members resources on managing business operations during this national emergency as a result of coronavirus (COVID-19), including updates from state regulatory agencies obtained by ACA Officials. To read this news
Other valuable resources:
NMLS Resource Center
State Agency Communication/Guidance on Coronavirus/COVID-19
FDIC: Frequently Asked Questions for Financial Institutions
ConServe is a proud member of ACA International and a Professional Practices Management System (PPMS™) certified agency that you can trust. Currently only 1%, of the more than 6,000 collection agencies, have achieved PPMS™ certification.
Federal Student Aid shared guidance for interruptions addressing concerns by higher education leaders about complying with Title IV, Higher Education Act (HEA) policies for students impacted by COVID-19. Read the announcement
InsideARM shared that the U.S. House of Representatives passed H.R. 5003, Fair Debt Collection Practices for Servicemembers Act with a unanimous vote, 355-0. The bill is now being reviewed by the Senate. Read the article
Federal Student Aid shared information from the U.S. Department of Education regarding steps they are taking to ensure confidentialy, security, and integrity of student and parent information related to federal student aid programs. Read the announcement
Federal Student Aid shared information regarding Title IV, Federal Student loan programs particpants with information and a new form regarding Forgery Loan Discharge process for U.S. Department of Education held loans. Read the announcement
The Consumer Financial Protection Bureau (CFPB) released a policy statement on January 24, 2020 regarding the framework that it will use in enforcement activities related to the catch-all category of “abusiveness.” Click here to view the policy statement
Federal Student Aid has shared a series of updates to the quarterly application, disbursement, and portfolio reports available on the FSA Data Center through September 20, 2019. Including: Key findings for Loan Portfolio Overview, Application Volume, Income-Driven Repayment Enrollment, New Defaults and Delinquencies, Borrower Defense to Repayment Report, and Public Service Loan Forgiveness. FSA also shared notes to accurately interpret the data. Read the announcement
CFPB shares tools and resources to help students, young adults, and their families manage their money, building credit and paying for college and student loans. Click here to visit the CFPB webpage
Federal Student Aid has announced the availability of the updated NSLDS Enrollement Reporting Guide (November, 2019). To access the NSLDS Enrollment Reporting Guide
The Department of Education (the Department) has provided information about the Federal Perkins Loan Revolving Fund Distribution of Assets and Timelines for 2019-2020. Click here to read the electronic announcement
The charts show the variable interest rates applicable to the Federal Stafford, Federal SLS, Federal PLUS, and Federal Consolidation loan programs for the period July 1, 2019 –June 30, 2020. Click here for details
The Department of Education has decided not to require a distribution of assets from the institution’s Perkins Fund for the 2018–19 Award Year. Click here to read more
In a notice dated May 23, 2019, FSA published information on “Interest Rates for Direct Loans First Disbursed Between July 1, 2019 and June 30, 2020.” Click here for more
The Consumer Financial Protection Bureau recently posted a blog outlining its Spring 2019 Rulemaking Agenda as part of the Spring 2019 Unified Agenda of Federal Regulatory and Deregulatory Actions, which is coordinated by the White House Office of Management and Budget. Click here for the full blog post
The Department of Education’s (ED) College Scorecard this week was updated to include program-level student debt data as well as new information on 2,100 additional postsecondary education options and more information on graduation rates. Click here the full announcement
As work continues to reach an agreement on standard terminology and format for financial aid offers, the U.S. Department of Education offered the following guidance on what schools should avoid when issuing financial aid offers. Click here to get the recommendations.
Congress passed the Economic Growth, Regulatory Relief, and Consumer Protection Act in May, 2018. Additional amendments related to veterans' medical debts go into effect May 24, 2019. Click to read more.
NCUA recently linked to an article discussing the CFPB's Release of their Small Entity Compliance Guide Summarizing the Payday, Vehicle Title, and Certain High-Cost Installment Loans Rule. Click to read more.
The CFPB and FTC have published their annual Fair Debt Collection Practices Act (FDCPA) report to
Congress. The report, which the Bureau and FTC are statutorily required to produce, summarizes various
trends in debt collection in numerous markets. Click to read more.
COHEAO and others have been talking to the Department of Education and Congress about the obligation under the Higher Education Act for the Department to reimburse institutions for their share of cancelled Perkins loans. Click to read more.
If you made federal student loan payments in 2018, you may be eligible to deduct a portion of the interest paid on your 2018 federal tax return. Click here to learn how these things can benefit you.
The Department of Education's financial responsibility standards are intended to ensure that institutions participating in federal financial assistance programs are able to meet their financial obligations and comply with ED rules. Click here to read more.
Federal Student Aid announced the availability of the revised Federal Perkins Loan (Perkins Loan) Assignment Form. Click here for full details.
The Department of Education (the Department) has identified a large number of Perkins Loans reported by schools or third-party servicers on the National Student Loan Data System (NSLDS®) that are in error. Click here to read more.
On November 14, 2018 Charles E. Schumer, United States Senator for New York announced that ConServe will bring 200 new jobs to Monroe and Erie counties. Senator Schumer said "these well-deserved jobs will be a boost for Western New York Economy. Read the press release
On October 26, 2018 the Bureau of Consumer Financial Protection (BCFP, fka: CFPB) issued a public statement that it expects to issue proposed rules in January 2019 regarding Payday Rule Reconsideration and Delay of Compliance Date. Read the public statement
