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today’s news for Tuesday, May 28, 2019

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NASFAA UPDATES AND ANNOUNCEMENTS

Webinar Logo

Appropriations bills passed by Congress in 2018 and 2019 included expanded FAFSA data-sharing authority that, among other things, can assist institutions in proactively identifying student eligibility for means tested benefits, scholarships, and emergency funding. Join Karen McCarthy and Jill Desjean from NASFAA's policy team on Wednesday, June 5, 2019 at 2:00 p.m. ET for this hot topic webinar where you will learn what the expanded data-sharing authority permits and how your institutions can best serve your students using this new authority. Register now.

AskRegs

No. Unfortunately, a student is not eligible for a late disbursement of any Title IV aid if he or she files the FAFSA after the end of his or her enrollment period for the award year. Late disbursement conditions are contained in 34 CFR 668.164(j), and also outlined in Volume 4, Chapter 2 of the FSA Handbook. View the full answer to this question for more about these deadlines and search for answers to your other pressing regulatory and compliance questions, in NASFAA's AskRegs Knowledgebase.

Thank You to Our 2019 National Conference Gold Sponsor

 NASFAA 2019 Conference Logo

The NASFAA conference is a team effort! When we convene in Orlando, please help us thank our gold level sponsor, LendKey, for their financial support and on-site participation that makes our conference so valuable to you, our attendees. Our sponsors are a key piece of the puzzle as they help make it possible for NASFAA to provide financial aid training, networking opportunities, and professional development at the conference. Check the schedule for all the special events in the Exhibit Hall, and if you haven't already, register for the conference now.

U.S. DEPARTMENT OF EDUCATION

Institutions were notified about the capital distribution (Distribution of Assets) of the balance of an institution’s Perkins Loan Revolving Fund (Perkins Fund) process and formula in a July 11, 2018 Electronic Announcement: Perkins Loan Program – Federal Perkins Loan Revolving Fund Distribution of Assets and Timelines for 2018–19. The Department of Education (the Department) has decided not to require a distribution of assets from the institution’s Perkins Fund for the 2018–19 Award Year.

FEDERAL REGISTER

This is a request for an extension of the approval of the Student Aid internet Gateway (SAIG) Enrollment forms. These forms allow various Department program partners to apply to participate with the Department in electronically transmitting and receiving data regarding federal student aid programs.

For each award year, the Secretary publishes in the Federal Register a notice announcing the FAFSA information that an institution and an applicant may be required to verify, as well as the acceptable documentation for verifying FAFSA information. This is the notice for the 2020-2021 award year.

This is a request for an extension of the OMB approval for the record-keeping requirements contained in 34 CFR 674.53, 674.56, 674.57, 674.58 and 674.59. The information collections in these regulations are necessary to determine Federal Perkins Loan (Perkins Loan) Program borrower's eligibility to receive program benefits and to prevent fraud and abuse of program funds.

This is a request for an extension of the information collection to obtain consumer information from foreign graduate medical institutions that participate in the Federal Direct Loan Program. The form is used for reporting specific graduation information to the Department of Education in accordance with 34 CFR 668.14(b)(7). This is done to improve consumer information available to prospective U.S. medical student interested in foreign medical institutions.

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