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ERIC Number: ED558520
Record Type: Non-Journal
Publication Date: 2013
Pages: 20
Abstractor: ERIC
Reference Count: 10
ISBN: N/A
ISSN: N/A
Report of the NASFAA Task Force on Student Loan Indebtedness
National Association of Student Financial Aid Administrators
In light of increasing concern about student loans, debt levels, and rising default rates, which coincide with worries about college costs, affordability, and transparency, the National Association of Student Financial Aid Administrators (NASFAA) convened a task force in 2012 to study this issue and make recommendations for improvement. NASFAA's Task Force on Student Indebtedness was charged with examining current trends and making recommendations aimed at improving the system for students and institutions throughout all stages of borrowing, including: pre-borrowing, in-school, and repayment. NASFAA's Board of Directors reviewed and approved the eight recommendations featured in this report. Taken together, these eight recommendations address shortcomings in the current student loan system at each level of borrowing: preborrowing, in-school, and repayment. They were each designed with the goal of achieving: (1) More informed borrowers; (2) More responsible borrowing; (3) Tools or frameworks for institutions to assist borrowers; (4) More borrowers successfully repaying their loans; and (5) Federal and institutional policies that reinforce all of the above. In contrast to the recent loan program changes which arose strictly out of fiscal concerns, these recommendations are intended to serve as starting points for meaningful policy discussions surrounding borrowing and student loan reform. The hope is that these discussions will lead toward better designed loan programs that serve the needs of today's borrowers as they pursue their educational goals. [Members of the task force include: Chuck Knepfle (Chair), Brenda Brown, Chris Christensen, Dan Davenport, Ron Day, Pam Fowler, Anna Griswold, Rita Grogan, Jane Hickey, Kevin Jensen, Craig Munier, David Page, Bernie Pekala, Tom Sakos, Yara Santana, Rick Shipman, and Joan Zanders.]
National Association of Student Financial Aid Administrators. 1101 Connecticut Avenue NW Suite 1100, Washington, DC 20036. Tel: 202-785-0453; Fax: 202-785-1487; e-mail: membership@NASFAA.org; Web site: http://www.nasfaa.org
Publication Type: Reports - Descriptive
Education Level: Higher Education; Postsecondary Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: National Association of Student Financial Aid Administrators (NASFAA)