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Federal Student Aid’s Next Gen website has launched, and it looks pretty slick. Last month FSA combined StudentAid.gov, StudentLoans.gov, FSAID.ed.gov, and part NSLDS.ed.gov student access into one website – StudentAid.gov. All of the functions found in these websites has been consolidated and with the exception…
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TOP 10 PROGRAM REVIEW FINDINGS OF 2019 One of the functions of the U.S. Department of Education is to oversee the Federal Student Aid programs to ensure they are administered correctly and that institutions are meeting the FSA requirements for institutional eligibility, financial responsibility, and…
Read More >Do people really have to be told that they can’t share TFA tokens? Seems that way. FSA is “reminding” institutions that TFA tokes used for logging into FSA systems and websites must NOT be shared. According to FSA only one authorized user is permitted per…
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It’s a new year and as always, we’ve got this year’s top ten compliance audit findings. These findings represent data ED culled from institutions’ annual audits and compliance examinations during the most recently completed fiscal year (2019). TOP TEN COMPLIANCE AUDIT FINDINGS AT COLLEGES IN…
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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 which is found in HEA Sec. 117 [20 U.S.C. 1011(f)]. Section 117…
Read More >The regulations under the 2016 Borrower Defense To Repayment established a standard procedure for ED to follow when evaluating borrower defense to repayment discharge claims for loans that were first disbursed prior to July 1, 2020. When a borrower makes a claim and attempts to…
Read More >The U.S. Department of Education issued guidance to institutions that closed as a result of the California wildfires and power outages in the Fall of 2019 allowing flexibility in paying FWS wages to students who were unable to work due to the school being closed.…
Read More >The 1098-T, Tuition Statement form reports tuition expenses students paid for college tuition that might entitle them to an adjustment to income or a tax credit. The deadline to provide students with 1098-T Forms is January 31, 2020 Schools and Colleges are required file Copy…
Read More >Some people still don’t seem to understand the 2018 guidance for submitting Single Audit to ED. Simply stated, if you are a submitting an audit for a public or private non-profit institution, you must submit a single audit each year. This is true whether your…
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