The U.S. Department of Education (ED) provides guidance to the community in a variety of ways. While you might expect the most important guidance to be released in Dear Colleague Letters, that isn’t always the case. With the lengthy clearance process for issuing letters, ED is providing more substantive guidance in Electronic Announcements than in the past. For example, the Electronic Announcement published 4/20/15 (150% Direct Subsidized Loan Limitation Electronic Announcement #17) provides important guidance regarding properly reporting academic year and loan period dates to both the Common Origination and Disbursement (COD) System and the National Student Loan Data System (NSLDS).
Another example is guidance related to the campus-based programs. With the elimination of the “CB” letter category, most guidance is now issued as Electronic Announcements. Recent campus-based programs announcements include the availability of the final FISAP (Fiscal Operations Report and Application to Participate) form and the availability of an electronic process for Federal Perkins Loan assignments.
NASFAA helps you stay on top of new Electronic Announcements in the U.S. Department of Education section of Today’s News.
Publication Date: 5/4/2015