By Karen McCarthy, NASFAA Policy & Federal Relations Staff
Final rules that set the conditions under which an institution may include books and supplies in tuition and fees, for the purpose of crediting the student’s account, are effective July 1, 2016.
Under the rules, an institution may include the costs of books and supplies as part of tuition and fees, and use Title IV funds to cover those costs without obtaining authorization, if the institution:
Alternately, the institution may include books and supplies in tuition and fees, and use Title IV funds to pay for them without obtaining authorization, if:
For additional information regarding these and other changes to the cash management regulations, please see the rules published in the October 30, 2015 Federal Register.
Publication Date: 4/25/2016
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