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TEMPORARY EXEMPTION ALLOWS STUDENTS TO GET SNAP

The Supplemental Nutrition Assistance Program (SNAP) provides nutrition benefits to supplement the food budget of needy families so they can purchase healthy food and move toward self-sufficiency. To help ease the strain faced by vulnerable populations throughout the pandemic, eligibility for SNAP benefits has been…

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FY 2018 3-YEAR DRAFT COHORT DEFAULT RATES RELEASED

On February 22, 2021, the Department of Education distributed the FY 2018 3-Year Draft Cohort Default Rate (CDR) notification packages to schools via their Student Aid Internet Gateway (SAIG) mailbox. The package includes a cover letter and Loan Record Detail Report (LRDR). It’s important for…

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FY 2018 DRAFT COHORT DEFAULT RATES COMING SOON

The U.S. Department of Education is set to release the Fiscal Year 2018 3-Year Draft Cohort Default Rates on February 22, 2021. The Draft 3-Year Cohort Default Rates (CDR) for Fiscal Year 2018 is calculated by dividing the number of borrowers who entered repayment in…

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PROFESSIONAL JUDGMENT APPEALS ARE COOL AGAIN

Remember when Betsy DeVos said DCL GEN0904 and DCL GEN 0905 weren’t cool anymore? Well, That’s just not the case. While the guidance in these two DCL’s may in fact have been rescinded, GEN 21-02 wants you to know that you should never let anyone…

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2021-2022 FEDERAL PELL GRANT CHARTS RELEASED

The 2021-2022 Federal Pell Grant Payment and Disbursement Schedules are here. This year the Federal Pell Grant has increased to $6495.00 for students with a zero EFC, up $150.00 from 2020-2021. The minimum Pell Grant award also increased to $650.00 for students with an expected…

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HEA SECTION 117 – REPORTING

As a condition of an institution’s Program Participation Agreement (PPA), colleges, universities and postsecondary schools are legally obligated comply with the statutory requirement to report on ownership/control by and gifts/contracts with foreign sources is found in HEA Sec. 117 [20 U.S.C. 1011(f)]. Section 117 requires…

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2021-2022 COLLEGE FINANCING PLANS – THERE ARE NOW TWO

You read that right. Last year NACUBO and the Department teamed up to separate the College Financing Plan (CFP) into two forms: one for undergraduate schools and another for graduate and professional schools. That’s a HUGE improvement. Additionally, the format of the College Financing Plan…

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UPDATE ON REQUIRED CARES ACT QUARTERLY REPORTING

Institutions that received funding under the CARES Act must begin reporting monthly to FFATA, according to a recent electronic announcement from ED’s Office of Postsecondary Education. The quarterly reporting requirements for the CARES Act are considered to be met under the more frequent, monthly reporting…

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ALTERNATIVE ACCEPTABLE DOCUMENTATION FOR VERIFICATION OF NON-FILING

ED’s Office of Postsecondary Education (OPE) informed schools that the IRS has stopped processing transcripts by mail until further notice. Although IRS Tax Transcripts are available online, some filers have not been able to access their account. As a result, some students may have to…

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FULL TEXT OF ED OPE UPDATED COVID-19 GUIDANCE FOR INTERRUPTIONS OF STUDY 4/3

Please note this electronic announcement is the third summary of COVID-19 guidance released by ED. Guidance from 3/5 and 3/20 can be found here. We are posting this in its entirety for educational purposes only. The original document may be obtained on the Information for…

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