UPDATED DEADLINES FOR FLEXIBILITIES RELATED TO CORONAVIRUS
Last week the New York Times reported that there are presently over 26,000 cases and at least 64 deaths on College and University campuses from COVID-19 since the start of the Fall Semester.
Sadly, COVID-19 continues its slow burn through our country and ED’s Office of Postsecondary Education released updated deadlines for previously announced flexibilities related to COVID-19.
Campus Based Matching Requirements – The institutional share (match) requirement associated with the Federal Work-Study (FWS) and Federal Supplemental Educational Opportunity Grant (FSEOG) programs for the 2019-2020 and 2020-2021 award years has been waived for public and private non-profit institutions.
Leave of Absence – Students on an approved title iv leave of absence may continue beyond the usual maximum 180-day timeframe and may now stay on a LOA until the end of the calendar year.
Return of Title IV Funds – Institutions are no longer required to return unearned Title IV funds for any student who withdrew last spring, summer or this fall because of COVID-19. ED caps the date of this flexibility at the later of December 31, 2020 or when the national emergency ends (if it ends later).
Academic Calendars – Prior guidance granting institutions flexibility to adjust their academic calendar have been extended to the end of the program’s academic year.
Reporting and Audit Requirements – Financial Statement and Compliance Audit Deadlines have been extended by six months from the date they would otherwise be due.