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FinAid – Ever changing and ALWAYS challenging.

If you would like to subscribe to the newsletter directly, please reach out to us directly at one of the email addresses below.  You may also sign up for it by filling in your information at the bottom of the homepage of our FA Solutions website. Thank you!
Rob Wright,  rwright@getfasolutions.com
Pam Notemyer Rogers, pnotemyer@getfasolutions.com

Please note that deadlines and event dates noted in all of our newsletters are always subject to change as determined by the Department of Education.

Important note From FA Solutions: Because our newsletter updates are excerpts from the original electronic announcements obtained through 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.

(Correction) 2018-2019 Federal Pell Grant Payment and Disbursement Schedules: (Note from FA Solutions: This update was originally published in our February 13, 2018 Fed-Updates Newsletter with a link to an electronic announcement covering a different financial aid topic. The reprint below includes a link to the correct announcement.)

The 2018-2019 Award Year Federal Pell Grant Program Payment and Disbursement Schedules are now available and attached to a January 31, 2018 Dear Colleague Letter (DCL ID: GEN-18-01). These schedules are used for determining Federal Pell Grant awards for the 2018-2019 award year for full-time, three-quarter-time, half-time, and less-than-half-time. Please note that Public Law 115-120 expires on February 9, 2018. This law’s Pell Grant appropriation, or a similar measure, must be extended through September 30, 2018 to fund the award levels described above for all eligible students in 2018-2019. Please review the January 31, 2018 Dear Colleague Letter (GEN-18-01) for additional information.

eCampus-Based Transition #3 – Campus-Based User Access and User Roles in the COD System: As explained in earlier announcements (August 29, 2017 and December 21, 2017), Federal Student Aid is transitioning business processes for the Campus-Based programs to the Common Origination and Disbursement (COD) System. The planned implementation is March 23-25, 2018. Information about Campus-Based user access to the COD System and the Campus-Based user roles that will be used in the COD System is available in a February 15, 2018 electronic announcement. The announcement also explains the differences between user access and user roles and includes important attachments.

Direct Loan Closeout Information & Deadline for 2016–17 Program Year: The Direct Loan established data submission (closeout) deadline for the 2016–17 Program Year is July 31, 2018. This is the last processing day of the program year, so all school data must be received and accepted by this date to be included in a school’s final Ending Cash Balance for the year. Exceptions to the established data submission deadline may be made on a case-by-case basis, if the school’s processing period extends beyond the deadline. 

As a reminder, all cash management, disbursement reporting, and monthly reconciliation regulatory requirements supersede the closeout deadline. If a school is meeting these regulatory requirements, the final closeout stage should begin no later than the last award end date (also known as the loan period end date) at the school for a given program and year. In other words, a school should be able to reconcile to a zero Ending Cash Balance and close out soon after its final disbursements and should not wait until the closeout deadline.  Please review the February 12, 2018 electronic announcement for additional information — including an attachment with FAQ’s.

FY 2015 Draft Cohort Default Rates Distributed & Time Period for Appealing: On February 26, 2018, the Department of Education (DOE) distributed the FY 2015 Draft Cohort Default Rate (CDR) notification packages to all eligible domestic and foreign schools only. The DOE has posted an  announcement that provides information about their distribution of the draft rates. The time period for appealing the FY 2015 Draft Cohort Default Rates under 34 C.F.R Part 668, Subpart N begins on March 6, 2018 for all schools. Please see the February 26, 2018 electronic announcement for additional information.

FA Solutions Services:  There’s more to review below, but if you’re interested in learning more about FA Solutions’ services, please take a moment to reach out to us.  Ask us about our third-party financial aid processing, interim staffingfinancial aid processing supportand Student Experience Center. You can connect with us through our contact form, instant chat or contact us directly:

Rob Wright – (813) 435-6227 rwright@getfasolutions.com
Pam Notemyer Rogers – (617) 967-7955, pnotemyer@getfasolutions.com


Federal Perkins Loan, Federal Work-Study, and Federal Supplemental Educational Opportunity Grant Programs; 2018-2019 Award Year Deadline Dates – FR Type: Notice, Correction: On January 3, 2018, The Department of Education published in the Federal Register (83 FR 356) a notice announcing the 2018-2019 award year deadline dates for the submission of requests and documents from postsecondary institutions for the Federal Perkins Loan, Federal Work-Study (FWS), and Federal Supplemental Educational Opportunity Grant (FSEOG) programs (collectively, the “campus-based programs”) (January 3, 2018 Notice). The Federal Register Notice published on February 20, 2018 corrects the zip code for submitting requests and documents by overnight delivery from 14304 to 14302. All other information in the January 3, 2018 Federal Register Notice remains the same. Deadline dates: The deadline dates for each program are specified in the chart in the Deadline Dates section of the January 3, 2018 notice.


Live Internet Webinar – The FISAP in the COD System: On March 7th and on March 14th, 2018, FSA will be offering an instructor-led, online training session that will provide information on the upcoming transition of business processes for the Campus-Based programs to the COD System. Please review the February 20, 2018 Dear Colleague Letter, (DCL ID: ANN-18-03) 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.

Thank you for taking the time to review our newsletter!

Rob Wright

Disclaimer of Liability: Every effort is made to provide accurate and complete information in FA Solutions’ newsletters. However, FA Solutions makes no claims, promises or guarantees about the accuracy, completeness, or adequacy 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 contained in these sites.




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