Federal Direct Student Loan Program

GOVERNOR HOCHUL ANNOUNCES PARTNERSHIP WITH CODE FOR AMERICA AND IRS ON FIRST-OF-ITS-KIND TOOL TO HELP NEW YORKERS FILE TAXES DIRECTLY FOR FREE

Retrieved on: 
Tuesday, October 17, 2023

NEW YORK, Oct. 17, 2023 /PRNewswire/ -- Governor Kathy Hochul today announced that New York State will partner with Code for America on a first-of-its kind direct filing tool to help eligible New Yorkers electronically file their taxes with the New York State Department of Taxation and Finance for free. The announcement follows an update from the Internal Revenue Service that New York, as well as Arizona, California, and Massachusetts, will integrate state e-filing tools with the IRS' federal e-filing tool as part of a limited, scaled pilot, beginning in 2024.

Key Points: 
  • The lessons we learn from this pilot will help ensure that Direct File, when fully implemented, will meet the needs of New York taxpayers.
  • In New York, Direct File users will be able to share their federal information with the filing tool built by Code for America.
  • New Yorkers will now be able to file directly and quickly, which is better for everyone – taxpayers and government alike.
  • New York, Arizona, California, and Massachusetts will work with the IRS for the initial state integration in the Direct File pilot in 2024.

Federal Direct Completes SOC 2® +HITRUST CSF Type 2 Report and Maintains Its Strong Security Posture

Retrieved on: 
Monday, July 31, 2023

LITTLE FALLS, N.J., July 31, 2023 /PRNewswire-PRWeb/ -- Federal Direct, a client-centric, direct-marketing provider serving Fortune 500 clients, announced today it has successfully completed its System and Organization Controls (SOC) 2® + HITRUST CSF Type 2 examination on controls relevant to Security, Availability, Processing Integrity, and Confidentiality for its print and direct-marketing services.

Key Points: 
  • The HITRUST Assessment includes a comprehensive evaluation of the organization's security posture and control environment against the Policy, Process, Implementation, Measured, and Managed maturity levels.
  • Federal Direct recognizes that to be a valued partner to the industries they support, they need to stay abreast and maintain a solid IT security structure, according to Federal Direct Chief Operating Officer William Evans.
  • Federal Direct chose 360 Advanced, Inc., a licensed CPA firm, to perform the demanding third-party SOC + HITRUST CSF examination, due to its reputation as a rigorous and fair security assessor, according to Evans.
  • "They are on top of all of the current security issues and requirements.

Nelnet Reports Third Quarter 2022 Results

Retrieved on: 
Monday, November 7, 2022

"During the third quarter, each of our core businesses performed at a high level and delivered strong results," said Jeff Noordhoek, chief executive officer of Nelnet.

Key Points: 
  • "During the third quarter, each of our core businesses performed at a high level and delivered strong results," said Jeff Noordhoek, chief executive officer of Nelnet.
  • The AGM operating segment reported net interest income of $62.9 million during the third quarter of 2022, compared with $83.1 million for the same period a year ago.
  • Nelnet Bank's net income after tax for the quarter ended September 30, 2022 was $0.8 million, as compared to $0.6 million for the same period in 2021.
  • The dividend will be paid on December15, 2022, to shareholders of record at the close of business on December1, 2022.

Federal Direct Completes Its SOC 2 + HITRUST Type 2 Assessment

Retrieved on: 
Wednesday, August 10, 2022

LITTLE FALLS, N.J., Aug. 10, 2022 /PRNewswire-PRWeb/ -- Federal Direct, a premier print and direct mail provider serving the insurance, pharma, finance, and retail industries, has completed a rigorous examination of its data security processes to achieve its SOC 2 + HITRUST Type 2 Assessment, in accordance with attestation standards established by the American Institute of Certified Public Accountants (AICPA).

Key Points: 
  • Federal Direct has completed a rigorous examination of its data security processes to achieve its SOC 2 + HITRUST Type 2 Assessment with cybersecurity and compliance firm 360 Advanced performing the third-party examination.
  • The HITRUST Assessment includes a comprehensive evaluation of the organization's security posture and control environment against the Policy, Process, Implementation, Measured, and Managed maturity levels.
  • Federal Direct has secured its SOC 2 Assessment for six years because they understand the importance of data security.
  • Services provided include SOC 1, SOC 2, SOC 3, SOC for Cybersecurity, SOC for Supply Chain, CSA STAR, HIPAA/HITECH, ISO 27001, CMMC, PCI-DSS, HITRUST CSF, Microsoft SSPA Attestation, Penetration Testing, GDPR, CPRA, and more.

Nelnet Reports Second Quarter 2022 Results

Retrieved on: 
Monday, August 8, 2022

"Our strong second quarter results reflect our long-term focus," said Jeff Noordhoek, chief executive officer of Nelnet.

Key Points: 
  • "Our strong second quarter results reflect our long-term focus," said Jeff Noordhoek, chief executive officer of Nelnet.
  • The AGM operating segment reported net interest income of $70.7 million during the second quarter of 2022, compared with $81.3 million for the same period a year ago.
  • The company recognized income from derivative settlements of $4.6 million during the second quarter of 2022, compared with an expense of $5.4 million for the same period in 2021.
  • AGM recognized a provision for loan losses in the second quarter of 2022 of $8.8 million ($6.7 million after tax), compared with $0.3 million ($0.2 million after tax) in the second quarter of 2021.

When It Comes to Student Loans, Compare Options & Use MEFA’s Expert Resources

Retrieved on: 
Wednesday, July 13, 2022

Before taking out any loan, MEFA advises the first stop for students and families should be MEFAs Comparing College Loan Options web page.

Key Points: 
  • Before taking out any loan, MEFA advises the first stop for students and families should be MEFAs Comparing College Loan Options web page.
  • In the current loan season, MEFA is stressing to students and families to comparison shop for loans.
  • Once families have exhausted the above options, if there is still a gap to fill, MEFA recommends that families compare private student loan options using these tips:
    Understand Variable Vs.
  • All of MEFAs work aligns with the ever-present goal to support the independence, growth, and success of Massachusetts students and families.

Nelnet Reports First Quarter 2022 Results

Retrieved on: 
Monday, May 9, 2022

"We are pleased with the results of the first quarter," said Jeff Noordhoek, Chief Executive Officer of Nelnet.

Key Points: 
  • "We are pleased with the results of the first quarter," said Jeff Noordhoek, Chief Executive Officer of Nelnet.
  • The AGM operating segment reported net interest income of $72.6 million during the first quarter of 2022, compared with $99.5 million for the same period a year ago.
  • Nelnet Bank's net income after tax for the quarter ended March 31, 2022 was $0.7 million, as compared to a net loss of $1.0 million for the same period in 2021.
  • The dividend will be paid on June15, 2022, to shareholders of record at the close of business on June1, 2022.

AM Best Assigns Credit Ratings to Riverfront Insurance, LLC

Retrieved on: 
Monday, April 18, 2022

AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating a- (Excellent) to Riverfront Insurance, LLC (Riverfront) (Wilmington, DE).

Key Points: 
  • AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating a- (Excellent) to Riverfront Insurance, LLC (Riverfront) (Wilmington, DE).
  • The outlook assigned to these Credit Ratings (ratings) is stable.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings .
  • For information on the proper use of Bests Credit Ratings, Bests Performance Assessments, Bests Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Bests Ratings & Assessments .

MEFA Consumer Alert: Federal Student Loan Borrowers Should Prepare for Restart of Payments in January

Retrieved on: 
Thursday, December 16, 2021

MEFA is advising federal student loan borrowers to prepare now for resuming their monthly payments early next year.

Key Points: 
  • MEFA is advising federal student loan borrowers to prepare now for resuming their monthly payments early next year.
  • As part of that mission, its important to ensure that Federal Student Loan borrowers are aware of how to prepare for the end of the federal student loan forbearance.
  • Though MEFA offers a private loan product, we continue to communicate with federal loan borrowers about preparing for repayment, and we also encourage anyone with a federal student loan to visit the Federal Student Aid dedicated site at StudentAid.gov/coronavirus .
  • While the federal student loan forbearance benefited millions of Americans, it also created challenges for both borrowers and loan servicing companies, said Mayotte, whose non-profit offers free student loan advice and dispute resolution services.

Grow Credit Announces Inclusive Credit Builder Plans for Students

Retrieved on: 
Thursday, December 2, 2021

Grow Credit , a financial inclusion platform committed to building credit and improving credit scores, today announced the rollout of its Credit Builder App for Students, initially as an Apple iOS exclusive for 60 days beginning December 9.

Key Points: 
  • Grow Credit , a financial inclusion platform committed to building credit and improving credit scores, today announced the rollout of its Credit Builder App for Students, initially as an Apple iOS exclusive for 60 days beginning December 9.
  • The Credit Builder App for Students, working in partnership with Blue Ridge Bank NA, allows student users with limited income to repay their Grow Credit accounts in full via payment from their linked bank account each month.
  • Grow Credit also offers a free Build membership plan for those students that meet standard requirements.
  • As a result, we created the Credit Builder for Students program as a tangible solution for building credit while increasing students financial literacy.