The U.S. Department of Education (ED) has designated the Federal Communication Commission (FCC), the Department of Labor (DOL), and the Department of Health and Human Services (HHS) as entities that may use FAFSA data to aid in the administration of pandemic related benefits administered…
Read More >This year Financial Aid Directors around the country are quietly rejoicing because Fiscal Year 2022 is the first year in over a decade that they will not have to worry about updating their Direct Loan Origination fees in the middle of their processing year. The…
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NEW INTEREST RATES Inflation is here and interest rates are going up for new Federal Direct Student Loans beginning on July 1, 2021. Interest rates for Direct Loans are based on a formula whereby the rates are indexed to the 10-Year Treasury Note plus an…
Read More >Following a system update completed on April 25, 2021, FSA announced that the R2T4 Lump Sum Reporting page is now available on the COD website. Schools can now use this page to report summary-level totals of Title IV funds that were not returned due to…
Read More >It’s time to update your DUNS Number in the SAM system. All schools using G5 must complete the registration confirmation of their Data Universal Numbering System (DUNS) number in the System for Awards Management (SAM) system annually. It’s a minor thing but don’t forget…
Read More >The FCC’s new Emergency Broadband Benefit (EBB) program is scheduled to go live this month. Under the program eligible low-income households will receive temporary assistance to help pay for internet service during the COVID-19 Pandemic. Those eligible can receive: Up to a $50/month discount on…
Read More >President Biden announced the American Families Plan which includes proposals for higher ed that will make Community College free and increase the maximum Pell Grant. The American Families Plans will invest in making college more affordable for low- and middle-income students, including students at…
Read More >The Student and Exchange Visitor Program (SEVP) has extended the March 2020 guidance which allowed Active and Continuing F and M students to temporarily count online classes toward a full course of study. If a student was actively enrolled at a U.S. school on March…
Read More >Last month ED’s Office of Postsecondary Education offered reminders and clarification related to the R2T4 guidance released in May 2020 which required institutions to waive returns under the Return to Title IV requirements for any student who withdrew as a result of COVID-19 during payment…
Read More >ED’s OIG just released the audit guide for proprietary schools that received HEERF funds under the CARES Act, CRRSAA, and the American Rescue Plan. According to the electronic announcement, a proprietary school must have a compliance audit conducted of its administration of the HEERF grant…
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