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FinAid – Ever changing and ALWAYS challenging.

If you would like to inquire about one of our services, please submit an FA Solutions contact form or contact us directly at the email addresses below. In the meantime, please visit our website and take a look at our school partner testimonials. Thank you!
Rob Wright,  rwright@getfasolutions.com
Pam Notemyer, pnotemyer@getfasolutions.com


Important Dates:  (Reminder:  Deadlines are always subject to change as determined by the Department of Education.)

  • Gainful Employment Program Data Reporting Due by Sunday, October 1, 2017 (See related updated below.)

Reminder from FA Solutions: Because our newsletter updates are excerpts from the original electronic announcements obtained through the the Information for Financial Aid Professionals (IFAP) website, please review the original update in its entirety by clicking links to the original posting included with each update. As a reminder, we are unable to post all Federal updates and deadlines in this newsletter. Therefore, schools and organizations are strongly encouraged to review additional information on the IFAP website to stay current on various financial aid topics — especially deadlines.


Online Training Module – Completing the 2018-2019 FISAP: Federal Student Aid’s online self-paced training module that assists with completing the 2018-2019 FISAP is now available. This FISAP must be submitted by schools that participate in the Federal Perkins Loan Program, Federal Supplemental Educational Opportunity Grant (FSEOG) Program, and Federal Work-Study (FWS) Program no later than September 9, 2017. Please review the August 2, 2017 Dear Colleague Letter (ANN-17-06) for additional information.

FSA Coach – 2017-2018 Advanced Training Course:  FSA is now offering the 2017-2018 FSA Coach  Advanced Training course. The course provides an online training opportunity for financial aid directors and managers, and includes a primer for new directors, a module on audits and program reviews, and a cash management module. Please review the August 7, 2017 Dear Colleague Letter (ANN-17-07) for additional information.

Final FISAP Form and Instructions for FISAP due by September 29, 2017 (Updated August 3, 2017):  FSA has posted a second correction to an April 5, 2017 electronic announcement regarding the FISAP.  A typographical error in one date listed in the 2018-2019 FISAP instructions PDF was corrected under Part IV, Field 1, Final adjusted FSEOG authorization. Please see the April 25, 2017 electronic announcement that was updated on August 3, 2017.

Gainful Employment Program Data Reporting due by October 1, 2017: This is a reminder for institutions that they are required to submit Gainful Employment (GE) program data to NSLDS for the 2016-2017 award year by October 1, 2017. This year October 1 falls on a Sunday; therefore, institutions may wish to submit their GE reporting ahead of the deadline. For additional information, including important guidelines regarding the GE data reporting, please review the August 2, 2017 GE electronic announcement #107.

Please note that the Fed-Updates newsletter may not always include the latest news regarding GE requirements and deadline. Thus, institutions are strongly encouraged to closely monitor Federal Student Aid’s GE information page to ensure that they stay current on GE updates and deadlines.

Notification of Campus-Based Funding for the 2017-2018 Award Year: Awards for the Federal Work-Study (FWS), Federal Supplemental Educational Opportunity Grant (FSEOG), and Federal Perkins Loan (Perkins Loan) programs, authorized under Title IV of the Higher Education Act of 1965, as amended, for the 2017-2018 Award Year (July 1, 2017 through June 30, 2018) have been approved for schools listed in an attachment to the August 10, 2017 electronic announcement.

Update to Previously Announced Comment Code 399 Changes:  During last year’s Federal Student Aid (FSA) Training Conference in Atlanta, FSA announced that, effective with the end of the corrections period for 2016-2017 FAFSAs on September 9, 2017, a comparison of information between applicants’ 2016-2017 and 2017-2018 FAFSAs will no longer be done to identify possible conflicting information and to report any significant differences to institutions using SAR/ISIR Comment Code 399.

Upon further consideration, to help ensure that Title IV aid is awarded on accurate information, FSA has decided to continue their monitoring of possible conflicting information between 2016-2017 and 2017-2018 FAFSAs throughout the 2017-2018 FAFSA processing cycle. Please review the August 10, 2017 electronic announcement for other important details on this matter – including the institutional review that is required in certain cases.

Changes to the IRS Data Retrieval Tool Process for the 2018-19 FAFSA Form: In a May 3, 2017 electronic announcement, the financial aid community was informed that in an effort to address privacy and security concerns raised by the Internal Revenue Service (IRS) related to the IRS Data Retrieval Tool (IRS DRT), the IRS and Federal Student Aid (FSA) agreed to implement a solution that will reinstate the use of the IRS DRT beginning with the 2018–19 Free Application for Federal Student Aid (FAFSA) cycle. The August 7, 2017 electronic announcement provides detailed guidance regarding that solution and its impact on the important work done by postsecondary institutions. The guidance covers the following topics:

  • 2018–19 Changes to the FAFSA IRS DRT User Experience
  • New and Changed IRS Request, Display, and Data Field Flags
  • Corrections to data items previously transferred into the FAFSA Form
  • Web Edits and SAR Comments

Please review the announcement for additional information.

RESOURCES:

2018-2019 Institutional Student Information Record (ISIR) Guide Is Available: The Guide assists financial aid administrators in interpreting student information on the ISIR. ISIRs are sent electronically to institutions by the Central Processing System (CPS). The Guide can be accessed on the Information for Financial Aid Professionals (IFAP) website and is also temporarily available on the FSAdownload website. Please review the August 1, 2017 electronic announcement for additional information.

Volume 4 of the 2017-2018 Federal Student Aid Handbook is Available: This volume deals with Federal Processing Aid and Managing FSA Funds. To access an online copy of the handbook, please review the August 3, 2017 electronic announcement.

2017-2018 Federal School Code List of Participating Schools (August 2017): This updated list is now available on the Information for Financial Aid Professionals (IFAP) website.  Please review the August 1, 2017 electronic announcement for additional information and to access a copy of the list.

EDExpress for Windows 2018-2019 Packaging Technical Reference Available on FSAdownload:  This resource is available in PDF format on the Federal Student Aid Download (FSAdownload) website. Please review the August 2, 2017 electronic announcement for additional information.

NSLDS Transfer Student Monitoring/Financial Aid History User Guide and Batch File Layouts (October 2017): The updated National Student Loan Data System (NSLDS) Transfer Student Monitoring (TSM)/ Financial Aid History (FAH) User Guide and Batch File Layouts are now available. The updated guide provides step-by-step instructions for creating and managing the TSM list using the NSLDS Professional Access website, batch and report instructions, and the updated TSM and FAH batch file layouts for use beginning October 2, 2017. Please review the August 10, 2017 electronic announcement for additional information.

INFORMATION PAGES FOR SCHOOLS TO MONITOR  WEEKLY: The list below represents just a few of the information pages available on the IFAP website. Please review the organization’s website for additional guidance, resources, deadlines, and information related to the administration and processing of Title IV federal student aid.

  • The “What’s New” page lists all of the latest postings within the past 14 days
  • Operational communications and guidance, technical documents, and related information specific to the COD System are provided on the COD System page — including a COD Processing Update and COD Peak Processing Reminders
  • The Gainful Employment (GE) page is dedicated to deadlines and updates relevant to GE regulations — including the most updated information pertaining to requirements for Title IV eligible educational programs that are required to lead to gainful employment in a recognized occupation (GE programs). The page also includes postings of recent and older Dear Colleague Letters and Electronic Announcements that include critical updates and guidance on GE requirements and reporting
  • The Cash Management page provides links to relevant Dear Colleague Letters, Electronic Announcements, webinars, and other cash management resources relevant to the cash management regulations published on October 30, 2015
  • The Perkins Loan FAQs page provides information and operational guidance on the Perkins Loan Program

Thank you for taking the time to review our newsletter!

Rob Wright
email: rwright@getfasolutions.com
(P) (813) 435-6227
www.getfasolutions.com —–> We can instant chat here
LinkedIn <———– Let’s connect!

Disclaimer of Liability: Every effort is made to provide accurate and complete information in FA Solutions’ newsletters. However, FA Solutions makes not claims, promises or guarantees about the accuracy, completeness, or inadequacy of the contents of the newsletters and expressly disclaims liability for errors and omissions in the contents of its newsletters. Although FA Solutions may include links providing direct access to other Internet resources, including Websites, FA Solutions is not responsible for the accuracy or content of information in these sites.

 

 

 

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