FinAid – EVER changing, and ALWAYS challenging. Feel free to reach out for a chat!
Rob Wrightemail: rwright@getfasolutions.com, (P) (813) 435-6227


Important Reminder from FA Solutions: At the end of each issue of the Fed-Updates Newsletter you will find links to important informational web pages available on the Information for Financial Aid Professionals (IFAP) website related to COD Updates, Early FAFSA, and Gainful Employment (GE). Please view those web pages weekly for the latest updates on those topics.


REMINDER FOR INSTITUTIONS TO PROMOTE THE USE OF THE IRS DATA RETRIEVAL TOOL FOR 2016-2017 AND 2017-2018 FAFSA YEARS: FSA has posted an electronic announcement to remind institutions to promote the use of the IRS Data Retrieval Tool (IRS DRT) for both the 2016-2017 and 2017-2018 FAFSA years. FSA indicates that use of the IRS DRT is the best way to prevent conflicting information from occurring between the 2016-2017 and 2017-2018 FAFSAs. Please review the October 4, 2016, announcement for additional information.
PROGRAM INTEGRITY QUESTIONS & ANSWERS WEBSITE UPDATED: The Office of Postsecondary Education maintains a website containing Q&As that pertain to the Program Integrity final regulations that were published on October 29, 2010. The Office recently posted the revised and new Q&As to the verification portion of the website. Please review the October 6, 2016, electronic announcement for additional information.
FOREIGN SCHOOLS REMINDED OF UPCOMING 2016 FSA TRAINING CONFERENCE FOR FINANCIAL AID PROFESSIONALS: The Multi-Regional and Foreign Schools Participation Division of the U.S. Department of Education sent an email to foreign schools on October 11, 2016, to remind them of the upcoming 2016 Federal Student Aid (FSA) Training Conference for Financial Aid Professionals. The conference will take place from November 29, 2016 through December 2, 2016. The email also included information on sessions that were specifically created for foreign schools. Please see the October 12, 2016, electronic announcement for additional information.

LOAN PROGRAM UPDATES:

  • Annual Notice of Interest Rates for Direct Loan Program Loans Made Prior to July 1, 2013: Please review the October 3, 2016, electronic announcement for additional information regarding interest rates for the Direct Loan Program.
  • Annual Notice of Variable Interest Rates for Federal Family Education Loan (FFEL) Program Loans Made Prior to July 1, 2010: Please review the October 3, 2016, electronic announcement for additional information regarding interest rates for the FFEL Program.
  • FFEL Program Special Allowance Rates For The Quarter Ending September 30, 2016: Please review the October 5, 2016, electronic announcement for FFEL Program special allowance rates.
  • Revision of the Income-Driven Plan Request Form for the Direct Loan and FFEL Programs: An October 11, 2016, Dear Colleague electronic letter announces the approval of changes to the Income-Driven Repayment Request form (IDR Request) for the Direct Loan and FFEL programs. Please see the letter for additional information.

RESOURCES:

  • 2016-2017 Federal Student Aid Handbook Appendices: The Appendices for the 2016-2017 Federal Student Aid Handbook are available in a master PDF file via links in an October 14, 2016, electronic announcement.
  • Availability of EdExpress for Windows 2017-2018, Release 1.0: The Department of Education has announced the posting of EDExpress for Windows 2017-2018, Release 1.0, on the Federal Student Aid Download (FSAdownload) Web site. Please see the October 3, 2016, electronic announcement for additional information.

TECHNICAL UPDATES:

  • CPS Reprocessing on October 17, 2016 to Update Records Incorrectly Assigned SAR Comment Code 399: The Central Processing System (CPS)  will conduct a reprocessing on October  17, 2016, to correct 2017-2018 student records that were assigned Student Aid Report  (SAR) comment 399 incorrectly. Please see the October 13, 2016 electronic announcement for additional information.

IMPORTANT INFORMATION PAGES FOR SCHOOLS TO MONITOR ON THE IFAP WEBSITE:

  • COD SYSTEM PROCESSING UPDATES: Operational communications and guidance, technical documents, and related information specific to the COD System are provided on the COD System web page maintained by FSA – including a COD Processing Update. Although schools are notified when a new edition is posted via a COD Web Message, they are encouraged to regularly check the COD system web page for important updates.
  • GAINFUL EMPLOYMENT UPDATES: FSA maintains a web page dedicated to important deadlines and updates relevant to Gainful Employment (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 web page also includes postings of recent and older Dear Colleague Letters & Electronic Announcements that include critical updates and guidance on Gainful Employment requirements and reporting. Schools are encouraged to regularly check the GE web page for important updates.
  • EARLY FAFSA UPDATES, RESOURCES, REGULATIONS, AND FAQs: FSA maintains an Early FAFSA web page with Early FAFSA resources and regulatory information. Schools are encourage to regularly check the Early FAFSA web page for updates.

– Early FAFSA Resources

– Early FAFSA Regulations

– Early FAFSA FAQs

– Dear Colleague Letters and Electronic Announcements

  • NEW CASH MANAGEMENT WEB PAGE ON THE IFAP WEBSITE: An October 3, 2016, electronic announcement indicates that the Department of Education has created a Cash Management Information web page on the Information for Financial Aid Professionals (IFAP) website. The page provides easy-to-access information and resources relating to the cash management regulations published on October 30, 2015. The page includes links to relevant Dear Colleague Letters, Electronic Announcements, webinars, and other cash management resources. Schools are encouraged to regularly check the web page for important updates.

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.

2019-04-09T17:07:25+00:00