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TODAY'S NEWS

today’s news for Tuesday, August 11, 2020

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NEWS FROM NASFAA

As a disrupted fall semester full of uncertainties approaches, financial aid administrators learned recently that they will have to manually check boxes updating disbursement records directly in the Common Origination and Disbursement (COD) website for students who have withdrawn from school for COVID-19-related matters — a time consuming and inconvenient process for some.

NASFAA UPDATES AND ANNOUNCEMENTS

AskRegs

NASFAA has confirmed that the IRS website is accepting online and phone requests for Tax Return Transcripts and Tax Account Transcripts to be sent to the tax filer by mail. We are still waiting on the results of our IRS Form 4506-T request and cannot confirm its use at this time. 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

Yes. The following can be found in the July 10, 2020 Electronic Announcement: "The Department is extending the date for institutions to distribute their Annual Security Reports (ASRs) and Annual Fire Safety Reports (AFSRs) to required recipients to December 31, 2020. We encourage institutions to distribute their reports on the normal schedule if possible." 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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The 2020-21 NASFAA webinar series gets underway on September 16 at 2:00 p.m. ET with 2021-22 Verification Basics. Verification can be a very complicated and time-consuming task. If you are a new financial aid administrator who has never completed verification, or perhaps an experienced financial aid administrator who has not completed verification in a while, this webinar will provide you with the tools you need to build your knowledge. Join NASFAA's Tiffany Gibbs and Kochie Vaughan as they discuss the basic elements of verification and what is required. Register now.

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It's difficult for new financial aid directors to get hands-on experience in a safe environment. New Director Group Coaching with Blue Icon Advisors creates assignments in areas where some directors may not have practical skills. One participant said: "The weekly assignments actually gave me experience in areas where I had none." Register today for our next new director group coaching session beginning September 21.

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