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today’s news for Monday, May 20, 2019

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ELM Resources. From our family to yours, we send a warm Happy Holidays greeting your way! And, ELM's Season of Thanks continues this month with a celebration of our recent survey results. We are so honored and proud of the trust you place in us each day. Your needs are our focus. Contact us to learn more about how we can help you. Visit www.elmresources.com or contact us at [email protected].

TRENDING IN FINAID NEWS

NEWS FROM NASFAA

In a new issue brief released today, NASFAA outlines support for the bipartisan FAFSA Act. The bipartisan "Faster Access to Federal Student Aid (FAFSA) Act" would, through better integration between the Department of Education (ED) and the Internal Revenue Service (IRS), simplify the federal student aid application, verification, and loan repayment processes. This bill takes the important step of amending both the Internal Revenue Code (IRC) and Higher Education Act (HEA) to allow for cross-agency data sharing that would improve the federal student aid system for students and borrowers. Share the policy issue brief with your networks to help inform policymakers and the higher ed community about this issue and head to NASFAA's Advocacy Resources page for more tools to support your advocacy efforts.

NASFAA UPDATES AND ANNOUNCEMENTS

Webinar Logo

Appropriations bills passed by Congress in 2018 and 2019 included expanded FAFSA data-sharing authority that, among other things, can assist institutions in proactively identifying student eligibility for means tested benefits, scholarships, and emergency funding. Join Karen McCarthy and Jill Desjean from NASFAA's policy team on Wednesday, June 5, 2019 at 2:00 p.m. ET for this hot topic webinar where you will learn what the expanded data-sharing authority permits and how your institutions can best serve your students using this new authority. Register now.

AskRegs

Multiple deadlines must be met in order to make a late disbursement for a student who completes verification after he or she is no longer enrolled for the award year. The U.S. Department of Education (ED) annually publishes deadlines for submitting verification documents in the Federal Register. There are also dates by which the institution must have a valid Student Aid Report (SAR) or ISIR (one on which all data is verified and accurate) back from the Central Processing System (CPS) and late disbursement deadlines to adhere to. View the full answer to this question for more about these deadlines and search for answers to your other pressing regulatory and compliance questions, in NASFAA's AskRegs Knowledgebase.

U.S. DEPARTMENT OF EDUCATION

On June 16, 2019, Federal Student Aid will implement several changes that will impact financial aid professional users of systems and websites behind its Access and Identity Management System (AIMS). These changes include updates to the process by which system access is disabled or deactivated after a period of inactivity, as well as a new monthly report to assist institutions with monitoring user activity status.

x - FEDERAL REGISTER

Through the Pell for Students who are Incarcerated experiment (also known as Second Chance Pell) the Department of Education will provide selected eligible postsecondary institutions with a waiver to the current statutory ban on incarcerated individuals, who are otherwise eligible, from receiving Federal Pell Grant funds to attend eligible postsecondary programs.

x - NOTABLE HEADLINES

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