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TODAY'S NEWS

today’s news for Friday, January 22, 2021

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NEWS FROM NASFAA

 Off the Cuff

This week on “Off The Cuff” Justin and Allie kick things off with a recap of President Joe Biden’s inauguration, his first day in office, and the top higher education priorities NASFAA has for the new administration. Megan highlights additional details about the Biden legislative agenda and congressional reaction. Jill then provides an update on new developments surrounding HEERF II and award notifications. Plus, the group wants to know: What’s your favorite constitutional fun fact?

The passage of the 2021 Consolidated Appropriations Act authorized more than $21 billion in supplemental Higher Education Emergency Relief Fund (HEERF II) dollars for institutions to spend on emergency student grants as well as to defray institutional expenses and carry out student support activities related to the coronavirus pandemic. With this supplemental funding comes new guidance from the Department of Education (ED), some of which has left financial aid administrators confused about allowable uses of HEERF II funds and previously unexpended HEERF funds from the Coronavirus Aid, Relief, and Economic Security (CARES) Act.

NASFAA UPDATES AND ANNOUNCEMENTS

AskRegs

This AskRegs Knowledgebase Q&A was updated on Jan. 19, 2021 to reflect requirements under the Coronavirus Response and Relief Supplemental Appropriations Act, 2021 (CRRSAA) under Section 314 of the Consolidated Appropriations Act, 2021. Unless specifically indicated below, the CRRSAA rules apply to both leftover Higher Education Emergency Relief Fund (HEERF) grants under the CARES Act (HEERF I funds) after Dec. 27, 2020 and to new funds under the CRRSAA (HEERF II funds). 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

This AskRegs Knowledgebase Q&A was updated on Jan. 19, 2021 to point out that the Jan. 15, 2021 Electronic Announcement retains the Aug. 21, 2020 Electronic Announcement timeframe for schools to transfer unspent Federal Work-Study (FWS) funds into Federal Supplemental Educational Opportunity Grant (FSEOG) at any time through the end of the payment period that includes the end date for the federally declared emergency related to COVID-19. This is different than NASFAA's understanding of informal guidance provided by the U.S. Department of Education (ED) in mid-December. 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.

Blue Icon

Due to popular demand, Blue Icon Advisors has added another session of Aspiring Director Group Coaching, beginning June 11. Join your colleagues for six weeks of professional development on topics you can use today and as a future financial aid leader. You can expect to build your financial aid leadership skills, receive practical advice from experienced financial aid leaders, participate in active weekly discussions, and more. The session will fill to capacity, so register today!

Please join us in congratulating Paul Doane, formerly the associate director of financial aid compliance at Grand Rapids Community College, who has retired after 38 years of working in financial aid. Paul has been very active in the Michigan Student Financial Aid Association (MSFAA), and has mentored many young financial aid professionals and has helped them grow to take leadership roles in MSFAA and at various colleges and universities. In retirement, Paul plans to visit major league baseball parks with his son, enjoy camping trips with his wife and grandchildren, and participate in volunteer opportunities. Celebrate your career developments by completing the "Movers and Shakers" form to share the news with your colleagues. We'll review your submission and then post your update to our Movers and Shakers page for all to see.

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