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The Government Accountability Office (GAO) on Thursday released its report examining the federal government's response to the ongoing pandemic caused by the novel coronavirus, notably outlining the Department of Education’s (ED) “evolving communications” with regard to how it disbursed funds for emergency student aid to institutions to help offset financial hardships.
The House of Representatives on Friday failed to override President Donald Trump’s veto of a congressional resolution that would have undone Education Secretary Betsy DeVos’ new borrower defense regulations, which many say would make it harder for borrowers to have their student debt forgiven if they were defrauded by their colleges.
This AskRegs Knowledgebase Q&A was updated on June 29, 2020 to include U.S. Department of Education (ED) guidance NASFAA has received via a member school. 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.
No. Effective with publication of the June 17, 2020 Interim Final Rule, the student must be a Title IV-eligible student under Section 484 in Title IV of the Higher Education Act of 1965, as amended (HEA) [20 USC 1091(a)]; and be enrolled in a Title IV-eligible program at the institution. 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.
The challenges and financial difficulty surrounding COVID-19 have impacted our families, colleagues and students we serve. As families look for creative and alternative ways to pay for college, personal credit is more important than ever. Join in on Thursday, July 9, at 2:00 p.m. ET for a webinar sponsored by College Ave Student Loans, as an Experian credit expert guides you through protecting and managing your personal credit, as well as advising students, during the crisis. Topics will include how the CARES Act assistance affects student credit, managing credit through financial hardship and COVID-19, how to guard against fraud and scams, and tips to protect your credit during online transactions. This 60-minute webinar is free to NASFAA members, but you must register in advance.
A school must report foreign gift and foreign contract information by January 31 or July 31 (whichever is sooner) after the date of receipt of the gift, date of the contract, or date of ownership or control. The January 31 report should cover foreign gifts received or contracts created during the period of July 1 through December 31 of the previous year. The July 31 report should cover foreign gifts received or contracts created during the period of January 1 through June 30 of the same year. Please see Volume 2, Chapter 6 of the FSA Handbook. 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.
Consulting work does not always mean a big price tag. For example, Erikson Institute developed a new scholarship matrix and wanted to ensure it was 1) compliant with federal financial aid rules and 2) effectively using its scholarship dollars. The school asked Blue Icon to perform a time- and budget-conscious review of the matrix and provide feedback. With only two hours of consulting work from start to finish, the school has "already made changes to our awarding processes that will positively affect our students." Contact Blue Icon Advisors for help with your quick project!
Federal Student Aid has posted a report that notifies the community of the approved awards for the Federal Supplemental Educational Opportunity Grant (FSEOG) and Federal Work-Study (FWS) programs for the 2020–21 Award Year. To access this report, refer to the document titled, "Notification of Campus-Based Funding for the 2020–21 Award Year," posted on the Campus-Based Awards page of the Information for Financial Aid Professionals (IFAP) website.