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The school allows for retroactive drops for courses in some situations. A student started the term, received a disbursement, and subsequently, the school retroactively withdrew the student from the term. How does this affect the R2T4 calculation? Think you know the answer? Read on to see if you got it right!

On Wednesday, NASFAA submitted comments to the Department of Education (ED) related to its proposed Higher Education Emergency Relief Fund (HEERF) quarterly data collection. While the form was finalized via emergency clearance from the Office of Management and Budget (OMB) on Oct. 13, 2020 with the first report deadline due October 30, it is still subject to the notice and comment process. NASFAA reiterated the duplicative questions on the Quarterly Budgeting and Expenditure Reporting (QBER) and the annual data collection and suggested ED sum institutions’ quarterly reports to arrive at annual figures. NASFAA also requested that ED resolve a discrepancy between form instructions and allowable use of funds that could lead to confusion when institutions complete the form.

The wait is over — NASFAA's Tax Transcript Decoder, updated for the 2022-23 award year, is now available. This visual guide can help the financial aid office quickly identify the correct tax transcript and tax return line items needed to complete the verification process. The Tax Transcript Decoder contains a color-coded sample 2020 IRS Form 1040 tax return and the corresponding tax return transcript. The Decoder also includes a sample Form W-2, cross-referenced with a W-2 Wage and Tax Statement, and information to help determine whether an individual filed Schedules 1, 2, and/or 3 for 2020. Take a look at the updated guide, and share with your colleagues.

This AskRegs Knowledgebase Q&A was updated on November 25, 2020 to clarify that there are two Coronavirus Indicators — one has a December 31, 2020 deadline; the other does not. According to the September 23, Electronic Announcement and its attachment, schools have until December 31, 2020 to set the Coronavirus Indicator on disbursements that qualify for COVID-19 related withdrawal relief under the CARES Act. 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.

Higher education institutions have unprecedented challenges to consider. What does "going to college" mean? How will revenue change? What will enrollment look like and what are we going to do about it? Where can costs be reduced and gains still made? Join us on Thursday, December 10 at 2:00 p.m. ET as we talk with Steve McDowell, the associate vice president for financial aid services and Title IV compliance for the Connecticut State Colleges and Universities (CSCU) system, to find out how they are looking ahead to the next school session. We'll focus on the role verification services plays with reducing melt, staffing challenges, expense management and verification lift. This 60-minute webinar, sponsored by Inceptia, is free to members, but you must register in advance.

The Department of Education (ED) is soliciting comments on the proposed information collection request (ICR) for the 2020/22 Beginning Postsecondary Students Field Test, which is designed to follow a cohort of students who enroll in postsecondary education for the first time during the same academic year, irrespective of the date of high school completion. The study collects data on students' persistence in and completion of postsecondary education programs; their transition to employment; demographic characteristics; and changes over time in their goals, marital status, income, and debt, among other indicators.

ED is soliciting comments on the proposed information collection request (ICR) for the Predominantly Black Institutions (PBI) Program, which makes 5-year grant awards to eligible colleges and universities to plan, develop, undertake and implement programs to enhance the institution's capacity to serve more low- and middle-income Black American students; to expand higher education opportunities for eligible students by encouraging college preparation and student persistence in secondary school and postsecondary education; and to strengthen the financial ability of the institution to serve the academic needs of these students.

ED is issuing a notice inviting applications for new awards for fiscal year (FY) 2021 for the Native American Career and Technical Education Program (NACTEP), Assistance Listing number 84.101A.

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