The following is a summary of the actions
that MASFAA has taken in response to the legislation
currently under consideration and Attorney General Andrew
Cuomo’s investigations:
- The Government Relations Committee has invited
Senator Kennedy’s educational aide to participate
in an open forum with the MASFAA membership to discuss
our concerns
regarding the Sunshine Act, the STARR Act and the
ongoing investigation into the relationships between
colleges and
student lenders. MASFAA will provide the membership
with more details on this event once confirmation from
Senator
Kennedy’s office has been received.
- Upon the
introduction of the Sunshine Act in the Senate on
February 1, 2007, the Executive Council
discussed the
specifics of this bill in detail. MASFAA has been
VERY active in informing Senator Kennedy’s office
about our concerns in regard to this legislation. Bernie
Pekala
(Boston College), Co-Chair of the MASFAA Government
Relations Committee, as well as other members of the
MASFAA membership,
has had meetings and telephone conversations with
Senator Kennedy’s staff over the past few months
to discuss our views. The current version of the Sunshine
Act is greatly
changed from its original version, largely due to
these efforts.
- MASFAA has several of its members on
the Negotiated Rulemaking Committee on Loans, including
Betsy Hicks
(MIT), Eileen
O’Leary (Stonehill College), and Christine
McGuire (Boston University). This Committee is
considering regulations
about preferred lenders and inducements, similar
to the law proposed in the Sunshine Act.
- Following
his statements to college presidents, high school
guidance counselors, and the media regarding "deceptive
practices" in college student lending, MASFAA
sent a letter to New York Attorney General Andrew
Cuomo maintaining
the integrity of the financial aid profession. NASFAA
and EASFAA also submitted responses to Mr. Cuomo.
What
Can You Do to Help?
Although MASFAA is working hard
to act on behalf of the membership in regard to the
Sunshine Act and
the
ongoing
investigations into the relationships between colleges
and the student lending industry, we are only one
voice. If you feel strongly about any of these
issues, I encourage
you to contact our state legislators, as private
citizens and voters (not as a representative of
MASFAA or your
institution), to let them know your views. Given
the volatile nature
of these issues, I would recommend that you consult
with your supervisor and legal/public relations
departments prior to proceeding.
I will continue to keep
you all informed of additional actions taken by MASFAA
in regard to the above. Please feel free to contact
me at (781) 736-3706 or savery@brandeis.edu,
or any member of the Executive
Council, with
any thoughts or concerns that you may have.
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