ANNUAL STUDENT LOAN ACKNOWLEDGEMENT

The Annual Student Loan Acknowledgement is now live on StudentAid.gov. Borrowers will not be required to complete the Annual Student Loan Acknowledgement process until they begin receiving loans for the 2021–22 Award Year. In the meantime, FSA has provided operational guidance for schools, so they can get familiar with the new process and begin updating 20-21 award year publications to inform borrowers about the new requirements. Schools should start thinking about how to update their processes and procedures to ensure that borrowers complete the ASLA. FSA noted that they are still planning a webinar on the ASLA later this year.