MAFAA :: Minnesota Association of Financial Aid Administrators

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"More than 60 percent of college graduates borrow to pay for their four-year degrees, and on average, the debt totals more than $29,000 by the time graduation day rolls around," the New America Foundation's Ed Central reports.

Posted on 23 October 2014 | 6:00 pm

"When Gov. Bill Haslam announced the creation of the Tennessee Promise scholarship program, the state anticipated 20,000 students might apply," The Tennessean reports.

Posted on 23 October 2014 | 6:00 pm

The Department of Education is expanding the Pay As You Earn Program, but some say it’s not enough.

Posted on 23 October 2014 | 6:00 pm

"The fall-out from the financial crisis is still being felt in the lending industry, where tight loan standards and empty borrower pockets have led to some necessary innovation in recent years," MainStreet reports.

Posted on 23 October 2014 | 6:00 pm

While financial aid can play a role in a student’s success, other behavioral factors can play a significant a role in enrollment and completion, ideas42 said in a webinar on Thursday. The webinar highlighted ongoing work the group is doing to address the low national completion rate by examining enrollment and retention at two schools – LaGuardia Community College in New York and San Francisco State University.

Posted on 23 October 2014 | 6:00 pm

"In a surprising and somewhat embarrassing situation, administrators of California's new Middle Class Scholarship program last month awarded only about half the $107 million available," the Los Angeles Times reports.

Posted on 23 October 2014 | 6:00 pm

"A new Pew Research Center study shows that from 2010 to 2012, the percentage of middle- and upper-middle-income students who borrowed money for college doubled, and they’re borrowing twice as much money as their peers did a generation ago," Take Part reports. "'The bottom line is more and more people are borrowing in all income brackets,' [NASFAA's Megan] McClean states."

Posted on 23 October 2014 | 6:00 pm

"[R]ather than simply bring back the [Ability to Benefit] program as it previously existed, lawmakers should limit the program to schools that have a proven track record of serving their students well to prevent the type of abuses that have hounded it in the past," EdCentral reports.

Posted on 23 October 2014 | 6:00 pm

NASFAA policy staff provide an in-depth look at final rules published yesterday by the Department of Education (ED) that modify the definition of “adverse credit history” in the PLUS Loan program and require loan counseling for PLUS borrowers with adverse credit who have extenuating circumstances or who have an endorser.

Posted on 23 October 2014 | 6:00 pm

"Recently, [Mark] Cuban opined about student debt at Inc.’s GrowCo Conference. Against the backdrop of rising student loan default, he made a compelling case that, in the interest of economic growth, the federal government should set a per-student ceiling on the amount of student loan money it gives out every year," James Marshall Crotty writes for Forbes.

Posted on 22 October 2014 | 6:00 pm

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Statement of Purpose

“The Minnesota Association of Financial Aid Administrators (MAFAA) is an association of professionals committed to the principle that no one should be denied access to higher education for financial reasons.”