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today’s news for Wednesday, July 7, 2021

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NEWS FROM NASFAA

The Department of Education’s (ED) internal watchdog unveiled a newly published infographic aimed at helping financial aid professionals identify and report student aid fraud. The Office of Inspector General (OIG) has highlighted a number of resources for student aid administrators to identify and report potential fraud in an effort to protect aid programs in the wake of the pandemic. “As a result of the coronavirus pandemic, billions of more dollars are flowing into States and territories to assist institutions of higher education in meeting their needs and the needs of their students impacted by the pandemic,” the infographic from OIG reads. “Criminals and bad actors are taking advantage of this crisis, preying on students, schools, and other educational entities charged with administering and overseeing these funds. We want to stop them.”

NASFAA UPDATES AND ANNOUNCEMENTS

The 2021-22 NASFAA U schedule of online courses is available and registration is now open. Don’t miss out on these great training opportunities. NASFAA U online courses allow you to complete your training anywhere. Topics include Return of Title IV Funds, Verification, Application Processing, and more. There are two new certificate courses being offered this year: Academic Calendars Certificate and Higher Education Loans Certificate. Reserve your spot early!

This AskRegs Knowledgebase Q&A was updated on July 1, 2021 to remind schools that they may continue to transfer unspent Federal Work-Study (FWS) funds into Federal Supplemental Educational Opportunity Grant (FSEOG) at any time through the end of the payment period that includes the end date for the federally declared emergency related to COVID-19. Yes. Section 3503 of the CARES Act allows an institution to transfer up to 100 percent of its unexpended FWS allocation into its FSEOG funds (but not from FSEOG to FWS) during the period of the COVID-19 qualifying emergency. 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.

Have you scheduled your certification knowledge exam yet? Exam dates and times are filling up, so be sure to schedule your exam session soon. The upcoming testing window is open from Wednesday, July 14 through 28, 2021. Learn more about the testing process and make sure you meet all of the technical requirements. If you haven’t already applied, it’s not too late to complete your certification application online

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