GAO Determines FSA Had Adequate Processes to Comply With CARES Act Guidance
By Hugh T. Ferguson, NASFAA Senior Staff Reporter
A new report out of the Government Accountability Office (GAO) found that Federal Student Aid (FSA) had “adequate processes” for implementing provisions outlined in the Coronavirus Aid, Relief, and Economic Security (CARES) Act. According to GAO, FSA met its obligations in waiving the requirement that Title IV of the Higher Education Act of 1965 funds be returned, canceling borrowers’ obligation to repay Direct Loans, and excluding federal Pell Grant disbursements from Pell lifetime usage calculations for students who withdrew because of the coronavirus pandemic.
The GAO audit interviewed FSA officials and reviewed the office’s guidance, documents, and technical assistance provided to schools in addition to oversight activities, which took place from March 27, 2020 (when the CARES Act was enacted) through June 27, 2022.
Publication Date: 5/11/2023
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