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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. 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: Since our newsletter updates are excerpts from original electronic announcements from the Information for Financial Aid Professionals (IFAP) website, please review the update in its entirety by clicking the link to the original posting included with each update.  As a reminder, we are not always able 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.  The IFAP website includes helpful information pages dedicated to topics such as Gainful Employment (GE) and the COD System. Links to some of IFAP’s other information pages can be accessed at the end of this newsletter.


FA Solutions, LLC’s VP of Partnerships at the June 6-7, 2018 GEMS conference: Pam Notemyer Rogers, our VP of partnerships, is attending the Generating Empowers Managers’ Success (GEMS) Conference taking place this week at the Doubletree Hotel in Detroit, Michigan. If you are attending the conference and would like to learn about our services, please email Pam at pnotemyer@getfasolutions.com to arrange a chat with her. Thank you!

Memorial Day Federal Holiday Processing and Customer Service Hours: Department of Education federal offices and their Title IV processors and contact centers will be closed on Monday, May 28, 2018 to observe the Memorial Day federal holiday. Please review the May 17, 2018 electronic announcement for additional information.

TEACH Grant Exit Counseling Moves to StudentLoans.gov Effective June 17, 2018: During the period June 15-17, 2018, Federal Student Aid (FSA) plans to implement additional Common Origination and Disbursement (COD) System functionality for the 2018–19 Award Year. As part of the implementation, FSA will move the TEACH Grant Exit counseling module from the National Student Loan Data System (NSLDS) Student Access website to the StudentLoans.gov website. Counseling reporting functions will move from the NSLDS Professional Access website to the COD website. Please review the May 11, 2018 electronic announcement for additional information.

DHS-SAVE Instructions for U.S. Department of Education (School) Users:
The Federal Student Aid (FSA) Electronic Announcement dated February 26, 2018, titled “Transition from Paper G-845 Form to an Electronic Confirmation Process for Eligible Noncitizen Status” explained that FSA is transitioning from the Department of Homeland Security-United States Customs and Immigration Services (DHS-USCIS) paper Form G-845 (for third step verification) to an electronic process via DHS’ Systematic for Alien Verification for Entitlements (SAVE) system. To assist with this transition FSA has created the SAVE Instructions for U.S. Department of Education (School) Users document. For additional information, and to access the SAVE instructions, please review the May 10, 2018 electronic announcement.

Operational Implementation Guidance #2 – CPS and COD System Implementation of the Revised 2018–19 Federal Pell Grant Payment and Disbursement Schedules:
 Federal Student Aid (FSA) has made additional information available regarding the operational implementation of the revised 2018–19 Federal Pell Grant (Pell Grant) payment and disbursement schedules, including changes that FSA must implement to the Central Processing System (CPS) and the Common Origination and Disbursement (COD) System. Schools need to be aware that the revised schedules must be used for all 2018–19 Pell Grant award calculations, including those for students who may have already been awarded based on the January 31, 2018 schedules. Please review additional critical information available in the May 10, 2018 electronic announcement.

FEDERAL REGISTER NOTICES

Hurricane and Natural Disasters – Defraying Costs of Enrolling Displaced Students Program Application: The Department of Education (DOE) is issuing a notice inviting applications from eligible institutions of higher education for the fiscal year (FY) 2018 Defraying Costs of Enrolling Displaced Students Program. Applications became available May 3, 2018 and the deadline for transmitting completed applications to the Department of Education is June 4, 2018. The DOE may consider late applications after on-time applications are evaluated. Please review the applicable Federal Register Notice as attached to the May 8, 2018 electronic announcement. Notice Reference: [Federal Register Volume 83, Number 86 (Thursday, May 3, 2018)] [Pages 19553-19555]

Hurricane and Natural Disasters – Emergency Assistance to Institutions of Higher Education Program Application: The Department of Education (DOE has issued a notice inviting pre-applications and applications for the fiscal year (FY) 2018 Emergency Assistance to Institutions of Higher Education Program, Catalog of Federal Domestic Assistance (CFDA) number 84.938T. The DOE recently made the pre-applications available and will make the applications available after review of the pre-applications. The DOE intends to make the applications available 60 days after publication of this notice. The deadline for transmittal of pre-applications is June 4, 2018 and the deadline for transmittal of applications is August 1, 2018. Please review the applicable Federal Register Notice as attached to the May 8, 2018 electronic announcement. Notice Reference: [Federal Register Volume 83, Number 86 (Thursday, May 3, 2018), Pages 19550-19553]

Federal Need Analysis Methodology for the 2019-20 Award Year: The Secretary has announced the annual updates to the tables used in the statutory Federal Need Analysis Methodology that determines a student’s expected family contribution (EFC) for award year (AY) 2019-20 for student financial aid programs. The updates affect the following programs: Federal Pell Grant, Federal Work-Study, Federal Supplemental Educational Opportunity Grant, William D. Ford Federal Direct Loan, Iraq and Afghanistan Service Grant, and TEACH Grant programs. Please review the applicable Federal Register Notice as attached to a May 17, 2018 electronic announcement. Notice reference:  [Federal Register Volume 83, Number 96 (Thursday, May 17, 2018)] [Pages 22967-22971]

RESOURCES

Interest Rates for Direct Loans First Disbursed Between July 1, 2018 and June 30, 2019:  The interest rates for Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS Loans first disbursed on or after July 1, 2018 and before July 1, 2019 are available in the May 18, 2018 electronic announcement.

Volume 1 – Student Eligibility, 2018-2019 Federal Student Aid Handbook: The handbook is now available and can be accessed through links available in the May 14, 2018 electronic announcement.

2019-2020 EDE Technical Reference (Spring Draft): The draft 2019-2020 Electronic Data Exchange (EDE) Technical Reference recently become available. This resource provides record layouts for schools or other organizations that need to design software systems to interface with the Central Processing System to process the Free Application for Federal Student Aid (FAFSA). For additional information, please review the May 10, 2018 electronic announcement for additional information.

2018-2019 COD Technical Reference (May 2018 Update): The updated 2018-2019 Common Origination and Disbursement (COD) Technical Reference. is now available. For additional information, please refer to the May 14, 2018 electronic announcement which includes attachments/enclosures.


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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