In the wake of a student loan scandal that has made families weary of financial aid officials, lenders and the National Association of Financial Aid Administrators (NASFAA), the financial aid industry is eager to demonstrate a willingness for change--especially NASFAA.
The massive financial aid organization representing students and financial aid officials at more than 3,000 schools across the nation has made it clear that they are reevaluating the way their organization is run. Like numerous colleges, NASFAA has adopted a new code of ethics that will govern the way they work with student lenders and students.
In addition to the code, NASFAA has announced the appointment of a new president and CEO to replace Dallas Martin, the president who, after 32 years of work, retired amidst scrutiny of ill relations with lenders. Newly appointed President Dr. Philip R. Day has previously served as the chancellor of City College of San Francisco. He has also been the president of Beach Community College, Cape Cod Community College and Dundalk Community College. In a NASFAA news report, Dr. Day stated that he was, “committed to advancing NASFAA’s mission.”