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NEWS FROM NASFAA

The Department of Education (ED) on Wednesday announced several corrections to the application process for the $113.5 million in Supplemental Assistance to Institutions of Higher Education (SAIHE) grants that were authorized under section 314(a)(3) in the Coronavirus Response and Relief Supplemental Appropriations Act, 2021 (CRRSAA) for institutions with the greatest unmet needs due to coronavirus. Specifically, the notice corrects the year of the Pell Grant recipient percent that institutions must meet to be eligible for Absolute Priority 6 to Fall 2019 and removes the reference to the “December 27, 2020” date with regard to institutional eligibility for Absolute Priorities 2 and 5. The announcement follows ED’s March 29 release of the SAIHE grant application. All other requirements and conditions of the initial notice inviting applications remain unchanged.

NASFAA UPDATES AND ANNOUNCEMENTS

AskRegs

Yes. According to Q&A 16 of the revised HEERF II Frequently Asked Questions, the school can award HEERF II funds to students who are not Title IV-eligible students. This includes those who are not meeting Title IV satisfactory academic progress (SAP) standards, as long as the school prioritizes the receipt of funds based on exceptional need and awards the funds to cover any component of the student's cost of attendance (COA) or emergency costs that arise due to Coronavirus (i.e., the allowable uses under the CRRSAA and ARP). 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.

AskRegs

If the institution wants to pay off a student's outstanding balance with HEERF student grant funds, it must follow the rules for awarding student grant funds. See AskRegs Knowledgebase Q&A, Can HEERF I, HEERF II, Or HEERF III Student Grant Funds Be Used To Pay a Student's Outstanding Balance? 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.

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It's time to commit to professional development and pursue your FAAC® designation! Another two-week testing window opens today, April 7, 2021. If your application has already been approved, purchase the certification knowledge exam and schedule your session online. If you haven't applied yet, complete your application online today. Learn more about the testing process and make sure you meet all of the technical requirements. Utilize the Exam Preparation Guide to aid your studies.

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