Brought to you by:

ProEducation Solutions. The future is automated! ProVerify Automated Verification Solutions contain 350+ Smart Rules to automate 100% of your institution's federal verification. ProVerify combines, TaxDox electronic IRS retrieval, paperless verification powered by DocuSign, and ProEddy chatbot which provides answers to verification questions 24/7/365. ProVerify is the most tech savvy verification platform on the market. Let ProVerify automate verification, identify data conflicts and quickly resolve them.

Student aid fraud is a big problem that isn't going away. In fact, as digital transactions become more prevalent, fraud will likely become more pervasive and sophisticated. This week, NASFAA's Perspectives op-ed series returns with a thought-provoking op-ed article designed to stimulate discussion on this issue. Once you've read the article, express your views in the comments area.

Effective for the 2020-21 award year, all Direct Loan borrowers (subsidized, unsubsidized, graduate PLUS, and parent PLUS) will be required to complete the Annual Student Loan Acknowledgment (ASLA) before receiving the first disbursement on the first Direct Loan that the student or parent borrows for each new award year. If the Direct Loan is for the 2020-21 award year, the ASLA is required before the first disbursement of the first loan, even if that first disbursement occurs before July 1, such as a 2020-21 loan containing a summer 2020 crossover payment period. The ASLA requirement is in addition to entrance counseling. 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.

Back by popular demand beginning March 2, NASFAA U's eight-week Need Analysis and Professional Judgment online course blends these two topics to provide financial aid administrators with the skills and insight into making the best decisions in the interests of their students. NASFAA U faculty David Downing and Tonya Hsiung will be joined by Ashley Reich, vice president of student financial services at Liberty University, to teach the concepts and their application in a practical setting. Participants in the course will learn from each other, NASFAA U materials and course videos, and live interactive sessions. Don’t miss out on this excellent opportunity. Register now.

New financial aid directors need trusted advisors. The consultants who lead group coaching through Blue Icon Advisors are financial aid leaders. "The depth of knowledge the group leaders brought to the table each week and how much they shared with us was invaluable," one participant explained. Join our complimentary webinar tomorrow to hear from three new directors who participated in group coaching with Blue Icon Advisors to tackle common areas of concern and pick up a trick or two that you can implement.

NASFAA's Board of Directors is here to represent you and is seeking your input. Please email any questions or comments you might have directly to a member of the NASFAA Board by clicking on their name on our Board Member Bios page. Questions or feedback may pertain to NASFAA products and services, membership benefits, policy issues, and advocacy efforts, or any other topic you would like to bring before the Board. The Board will compile feedback and discuss at the March 9-10 Board meeting. We welcome your insight.

Closeout of all 2018–19 Campus-Based program awards has been completed based on the data submitted on the Fiscal Operations Report for 2018–19 and Application to Participate for 2020–21 (FISAP).

As explained in a Dec. 13, 2019 Electronic Announcement, Federal Student Aid completed a first step in the Next Gen FSA initiative and consolidated several student-facing websites into an enhanced version of StudentAid.gov, a single front door on the web for students, parents, and borrowers.

The data submitted electronically in the Fiscal Operations Report and Application to Participate (FISAP) is used by the Department of Education to determine the institution's funding need for the award year and monitor program effectiveness and accountability of fund expenditures.

VIEW NEXT ISSUE

Contact us to submit questions, content or to purchase advertisements.