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TODAY'S NEWS

today’s news for Monday, December 16, 2019

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NEWS FROM NASFAA

ED to Issue Proposed Process for Foreign Gift Reporting This Week

The Department of Education (ED) on Friday released a preview for its proposed process for institutions to report foreign gifts and contracts, as required by Section 117 of the Higher Education Act (HEA). At the Federal Student Aid conference earlier this month, ED stated the e-app process for Sec. 117 reporting would be suspended, and institutions would be required to use a new portal to report information beginning at the end of January. ED’s proposal is to be officially published this week, and will likely contain more reporting requirements than are currently in the e-app. ED has asked the Office of Management and Budget to conduct an “emergency review” of the information, with comments due by December 27. Schools have lacked clarity on Sec. 117 reporting, and NASFAA will work with the community to provide comment and encourages institutions to do the same.
 
2019 in Review

NASFAA continued production of its weekly policy podcast, “Off The Cuff,” in 2019, publishing 38 episodes throughout the year. Take a look — and a listen — back at the top 10 most downloaded episodes.

TRENDING IN FINAID NEWS

NASFAA UPDATES AND ANNOUNCEMENTS

Blue Icon

Looking to establish your personal brand as a financial aid leader, or wondering whether it should be a priority? Blue Icon Advisors, NASFAA's consulting service, will be answering your pressing questions on Facebook Live tomorrow, Tuesday, December 17, at 1:00 p.m. ET about why formulating and maintaining a personal brand is crucial to effective leadership. This is your last chance to send us your questions about building your personal brand via email. We look forward to seeing you tomorrow as Blue Icon Advisors’ Tony Erwin shares best practices for positioning yourself a successful financial aid leader.

Leadership Conference

Is enrollment management is a passing trend, or something that will stick with the financial aid profession for years to come? Take a listen back to NASFAA's "Director Download" podcast for a discussion on how you can maintain access while ensuring institutional success, and what aspiring leaders need to know about building a student population to meet both institutional and student goals. The Strategic Enrollment Management pathway at NASFAA's 2020 Leadership & Legislative Conference & Expo will dive into these topics, and more. Register while space is still available.

NASFAA U

Start the new year off right by focusing on your professional development with the NASFAA U Verification online course. This is an excellent course for both new and experienced staff. NASFAA instructors, Tonya Hsiung, David Downing, and David Futrell will lead participants through the maze of verification requirements for both the 2019-20 and 2020-21 award years. The course begins Jan. 13, 2020 and will fill quickly. Don't miss out on this great training opportunity. Register now.

AskRegs

No, not unless there is conflicting information. The school can request a Tax Return Transcript before requesting a signed copy of the tax return, but the school cannot require a Tax Return Transcript if a signed copy of the tax return is provided. Additionally, the school is not required to request a Tax Return Transcript before requesting or accepting a signed copy of the tax return with applicable schedules (IRS Schedules 1, 2, and/or 3). View the full answer to this question to learn more and search for answers to your other pressing regulatory and compliance questions, in NASFAA's AskRegs Knowledgebase.

U.S. DEPARTMENT OF EDUCATION

The Department of Education as well as most of the Title IV processors and contact centers will be closed on Wednesday, Dec. 25, 2019 to observe the Christmas Day federal holiday as well as on Wednesday, Jan. 1, 2020 to observe the New Year’s Day federal holiday. In addition, some of the Title IV processors and contact centers will have additional closures on the days surrounding the holidays.

During the weekend of Dec. 21-22, 2019, Federal Student Aid plans to consolidate the current functionality of StudentAid.gov, StudentLoans.gov, FSAID.ed.gov, and some components of NSLDS® Student Access (NSLDS.ed.gov) under one umbrella website which will be an enhanced version of StudentAid.gov. All of the functionality of StudentLoans.gov will be available under the new StudentAid.gov, and all existing pages will be redirected to new pages so as not to disrupt the borrower experience.

x - FEDERAL REGISTER

The Department announces the process for designation of eligible institutions and invites applications for waivers of eligibility requirements for fiscal year (FY) 2020, for the following programs.

x - NOTABLE HEADLINES

NASFAA TRAINING

NASFAA CAREER CENTER


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