The Department of Education (ED) announced Tuesday that institutions will not have to implement a process for borrowers to complete the Annual Student Loan Acknowledgement (ASLA) — formerly known as the Informed Borrower Tool — before disbursing loans for the 2020-21 award year. While ED wrote the ASLA will be available on Studentaid.gov by the end of this month, it will only begin mandating borrowers certify their loans using the form for loans disbursed for the 2021-22 award year. In the announcement, ED also detailed operational impacts to institutions, what borrowers will experience while filling out the ASLA, and additional technical information to assist schools and software providers.

Publication Date: 4/22/2020