SEARCH TODAY'S NEWS ARCHIVES
NASFAA
TODAY'S NEWS

today’s news for Monday, April 6, 2020

Brought to you by:

ProEducation Solutions. The future is automated! ProVerify Automated Verification Solutions contain 350+ Smart Rules to automate 100% of your institution's federal verification. ProVerify combines, TaxDox electronic IRS retrieval, paperless verification powered by DocuSign, and ProEddy chatbot which provides answers to verification questions 24/7/365. ProVerify is the most tech savvy verification platform on the market. Let ProVerify automate verification, identify data conflicts and quickly resolve them.

TRENDING IN FINAID NEWS

NEWS FROM NASFAA

AskRegs

Wondering how to determine how much to pay a Federal Work-Study student when enrollment is disrupted by the coronavirus? How about what factors to consider when deciding to extend a scheduled break due to the COVID-19 outbreak? Take a look back at last month's most viewed AskRegs Q&As. If you have a question that's not on the list, you can find a credible and reliable answer in the AskRegs Knowledgebase by browsing or searching the answers provided by our training and regulatory assistance staff. If you can't find the answer, you may submit your question by clicking the "Ask a New Question" button.

NASFAA on Thursday joined more than 40 other higher education groups in a letter urging the Department of Education (ED) to expeditiously distribute the $14 billion in emergency funds allocated to higher education under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Additionally, the letter calls on ED to give institutions the flexibility to disperse the funds on campus as they deem necessary, both for emergency grants directed to students and to cover expenses caused by the disruption. The letter thanks ED and Congress for the funding provided through the legislation while making clear that more financial assistance is needed in order to assist both students and institutions dealing with the crisis.

NASFAA wrote to the Department of Education (ED) on Friday, urging the agency to grant flexibility with regard to income verification due to disruptions brough on by the novel coronavirus pandemic. The letter requested, for example, that ED lift its restriction on the use of online notary services, as visiting a notary in person is no longer an option for most students. The letter also addressed the verification of tax nonfilers, who are currently required to provide copies of W-2 forms for verification purposes. "This could prove problematic as small businesses shutter, either temporarily or permanently, as a result of the COVID-19 pandemic, making it difficult or impossible for employees or former employees to obtain W-2 copies," the letter reads, suggesting that ED allow institutions to accept a signed statement from nonfilers who are unable to obtain W-2 forms from their employers. Read the full letter

x - COVID-19 ASKREGS

AskRegs

This AskRegs Knowledgebase Q&A has been updated to clarify that we remain uncertain about the ability to use an electronic signature for the Statement of Educational Purpose. 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.

NASFAA UPDATES AND ANNOUNCEMENTS

Webinar Logo

To avoid a seat capacity issue due to increased demand within NASFAA's webinar platform during the coronavirus pandemic, future webinars will be rescheduled to begin an hour later than originally planned. The webinars will begin at 3:00 p.m. ET. Registered participants' information has been updated, so no action is required. Please note the change on your calendar. Registered participants may use the same link that was provided with their original registration. If you are unable to access the live event, the on-demand version will be available shortly after the conclusion of the webinar. All registrants will be notified via email as soon as the recording is available to view. We apologize if this change is an inconvenience.

Webinar Logo

Join NASFAA's Tiffany Gibbs and Lissa Powell, along with school panelists, at 3:00 p.m. ET on Wednesday, April 22 for the Satisfactory Academic Progress: Basics & Beyond webinar. After a review of the fundamental concepts of satisfactory academic progress (SAP), presenters will examine topics such as the requirement that a school's academic standards for Title IV recipients be the same as or stricter than those for non-Title IV recipients, frequency of evaluation, and maximum timeframe. We will also discuss flexibilities provided in the satisfactory academic progress regulations and guidance, as well as some more challenging scenarios, such as grade changes, for which additional clarification has been provided by the Department of Education (ED). Register now.

x - NOTABLE HEADLINES

NASFAA TRAINING

NASFAA CAREER CENTER


NEXT

Contact us to submit questions, content or to purchase advertisements.

View Desktop Version