Episode 149: Emergency Grant Taxability, Reporting Requirements, and Oversight of CARES Act Funds
This week on "Off The Cuff," Justin, Megan, Jill, and Allie reconvene to discuss the latest developments regarding CARES Act emergency grant funding for students and institutions, including new updates from the IRS that students' emergency grants will not be counted as taxable income. Jill explains the details of new guidance from the Department of Education on how, when, and where institutions must report data on student emergency grants, and what data points must be made publicly available. Plus, Allie describes a new class action lawsuit against ED arguing defaulted loan borrowers are wrongfully continuing to have their wages garnished, despite ED guidance saying it would halt collections. And the team wants to know: Where are you most looking forward to eating once we return to normal life?
Speakers
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Justin Draeger |
Megan Coval |
Allie Arcese |
Jill Desjean |
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Resources
- Listen on Apple Podcasts or Spotify
- Episode 149 Transcript (PDF)
- Coronavirus (COVID-19) Web Center
- ED Releases Interim Reporting Guidelines for Student Portion of the CARES Act Emergency Relief Fund
- AskRegs Q&A: When Does Reporting Start Under the CARES Act?
- FAFSA Renewal Declines Have More Than Doubled Since Before Pandemic
- ED’s Internal Watchdog Releases Plan to Oversee Billions in COVID-19 Relief Funding
- Consumer Groups Sue DeVos Over Student Loan Wage Garnishment
- COVID-19 Reference Page: Student Portion of Higher Education Emergency Relief Fund
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Publication Date: 5/8/2020