DC Update, Never a Dull Moment! Terry Muilenburg Chair, NCHER Board SVP, USA Funds Shelly Repp President, NCHER

DC Update Never ending fiscal brinksmanship –Avoiding a shutdown CR expires January 15, 2014 –Debt limit Will be frozen February 7, 2014 –Sequester –Grand bargain or short term deal 2013 Knowledge Symposium November 5-7, 2013 ● St. Pete, Florida 2

DC Update HEA Authorization –President’s proposals –House and Senate schedule –Issues/themes One loan program/one grant program Increased Pell funding/making it an entitlement Funding tied to cost reduction/success Eliminate loan subsidy Automatic IBR Loan limits Simplify tax credit Streamline FASFAA/apply through tax return Better consumer information Interest rates may, again, be on the table 2013 Knowledge Symposium November 5-7, 2013 ● St. Pete, Florida 3

DC Update Reform of Telephone Consumer Protection Act Federal Student Aid Programs –NFP Servicing –VFA Initiative –IBR 2013 Knowledge Symposium November 5-7, 2013 ● St. Pete, Florida 4

DC Update Regulatory Agenda –Education 2012 Neg Reg – Loan Issues 2013 Neg Reg – Gainful Employment 2014 Neg Reg - ??? –CFPB Supervision of large servicers FDCPA Regulations 2013 Knowledge Symposium November 5-7, 2013 ● St. Pete, Florida 5

DC Update NCHER Priorities –Raise profile of our members in helping borrowers and promoting postsecondary success –Defend against threats –Remove barriers to helping struggling borrowers –Support borrower services 2013 Knowledge Symposium November 5-7, 2013 ● St. Pete, Florida 6

Questions? 2013 Knowledge Symposium November 5-7, 2013 ● St. Pete, Florida 7

DC Update, Never a Dull Moment! 2013 Knowledge Symposium November 5-7, 2013 ● St. Pete, Florida 8