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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.)

  • 08/07/17 – Department of Education’s Privacy Technical Assistance Center Regional Meeting
  • 09/29/17 – Deadline to submit FISAP by schools that wish to request funding under the Campus-Based programs for the 2018-2019 Award Year and schools that had Campus-Based expenditures for the 2016-2017 Award Year
  • 11/28/17 – 12/01/17 – FSA Training Conference

Please review the updates below for additional information.


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.


eCampus-Based Application for the Fiscal Operations Report for 2016-2017 and Application to Participate for 2018-2019 (FISAP) Now Available: The eCampus-Based FISAP application is available on the eCampus-Based (eCB) website. Schools that wish to request funding under the Campus-Based programs for the 2018-2019 Award Year, and schools that had Campus-Based expenditures for the 2016-2017 Award Year, are required to electronically submit a FISAP via the eCB website. The deadline for the electronic submission of the FISAP is 11:59 P.M. (ET) on September 29, 2017. Transmission must be completed by 12:00 midnight. Please review the July 17, 2017 electronic announcement for critical information / guidelines for submitting the FISAP.

2017 Federal Student Aid (FSA) Training Conference: Registration and housing for this year’s FSA Training Conference for financial aid professionals is now open.  The conference will take place from November 28th through December 1, 2017 at the Swan & Dolphin hotel in Orlando, Florida. Program and session information will be posted in the coming months. There is no fee to register for the event, which offers a great opportunity to receive valuable training and critical updates from Department of Education staff.

Update to Previously Announced Verification Process for Nontax-Filers: During the Federal Student Aid (FSA) Training Conference last year FSA announced that beginning with the 2018-2019 FAFSA, individuals who indicated on the FAFSA that they did not file a tax return would be able to use the IRS DRT to obtain and transfer to the FAFSA confirmation of such non-filing.  Upon further consideration, the IRS has determined that this enhancement to the IRS DRT process is not possible because the IRS cannot adequately verify an individual’s identity when there is no tax return on file. Therefore, for the 2018-2019 FAFSA, in instances where a student who has been selected for verification indicated that he or she did not file an IRS tax return, institutions must comply with the acceptable documentation requirements as discussed in the May 5, 2017, Federal Register notice. The notice also indicates that beginning with the 2018-2019 FAFSA, confirmation of non-filing for dependent students is no longer required. This is reiterated again in a May 25, 2017 Dear Colleague Letter (GEN 17-05). The Federal Register notice and Dear Colleague Letter can be accessed through links available in a July 21, 2017 electronic announcement.

Department of Education’s Privacy Technical Assistance Center (PTAC) Regional Meeting, August 7, 2017: Join the U.S. Department of Education’s (ED’s) Privacy Technical Assistance Center (PTAC) for a regional meeting in Minneapolis, MN on August 7, 2017. Federal Student Aid representatives as well as representatives from ED’s privacy office will discuss data security and breach requirements, interesting findings regarding undiscovered postsecondary data breaches, and share best practices through a data breach simulation activity. They will also share and review the latest guidance from ED regarding data sharing, the use of educational technology, and the use of financial aid data for program evaluation and research. For additional information, please review the July 26, 2017 electronic announcement.

OMB Approval of the Loan Rehabilitation Income and Expense Information Form: The Department of Education recently issued a Dear Colleague Letter that announces the availability of the Loan Rehabilitation Income and Expense Information form for use by participants in the Direct Loan and Federal Family Education Loan (FFEL) programs. Loan holders and servicers may begin utilizing the Office of Management and Budget (OMB) approved form immediately. Please review the July 21, 2017 Dear Colleague Letter(GEN-17-07) for additional information and to access the form.

RESOURCES:

Federal Student Aid Posts Updated Reports to FSA Data Center: Federal Student Aid (FSA) recently posted a series of updates to its FSA Data Center, the centralized online source for FSA data. This update refreshes more than 30 quarterly application, disbursement, and portfolio reports to include data through March 31, 2017. Some of the topics covered in the most recent reporting include the following:

  • Outstanding Loan Portfolio Overview
  • Application Volume and Aid Disbursements
  • Increased Enrollment in Income-Driven Repayment Plans
  • Tracking Toward Public Service Loan Forgiveness
  • New Direct Loan Defaults and Delinquency Rates Fall
  • Default Recoveries

Please review the July 10, 2017 electronic announcement for additional information.

FEDERAL REGISTER POSTINGS:

Annual Updates to the Income Contingent Repayment (ICR) Plan Formula for 2017: The Secretary announces the annual updates to the ICR plan formula for 2017 to give notice to Direct Loan borrowers and the public regarding how monthly ICR payment amounts will be calculated for the 2017–2018 year. Please review the Federal Register notice for additional details. The notice can be accessed in the July 13, 2017 electronic announcement.

Comment Request for the 2018-2019 Free Application for Federal Student Aid (FAFSA): The Department of Education and Federal Student Aid seek Office of Management and Budget approval of all FAFSA application components as a single ‘‘collection of information’’. Interested persons are invited to submit comments on or before August 14, 2017. Please review the Federal Register notice for additional information. The notice can be accessed in the July 13, 2017 electronic announcement.

Comment Request for the 2017 – 2018 National Postsecondary Student Aid Study (NPSAS): The Department of Education is proposing a revision of an existing information collection for the 2017 – 2018 NPSAS. This request is to conduct the 2017–18 National Postsecondary Student Aid Study, Administrative Collection (NPSAS:18–AC). This study is being conducted by the National Center for Education Statistics (NCES). NPSAS is a nationally representative study of how students and their families finance education beyond high school. This submission is for NPSAS:18–AC, which departs from the design of previous NPSAS studies in three respects: It is anticipated to include state-representative estimates for undergraduate students overall and in public 2-year and public 4-year institutions; it will provide financial aid estimates 2-years earlier than how the studies were previously scheduled; and it will be the first NPSAS study without a student interview component. Interested persons are invited to submit comments on or before September 11, 2017. Please review the Federal Register for additional information. The notice can be accessed in the July 13, 2017 electronic announcement.

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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