Fed-Updates Financial Aid Newsletter – May 9, 2019

Important Note:  FA Solutions‘ Fed-Updates Newsletter updates are excerpts from original announcements posted on the IFAP website so please review the entire update by clicking the link included with each posting. We’re not able to include all Federal updates and deadlines, but you will find additional information on the IFAP websitePlease note that deadlines and event dates noted in all of our newsletters are always subject to change as determined by the Department of Education.


Title IV Institutional Survey – Web Survey closes May 31, 2019: Federal Student Aid (FSA) launched a web survey on May 8, 2019 to assess the ease with which schools are able to conduct business with the Department of Education and FSA. Please review the May 7, 2019 electronic announcement for information on how to access the survey.

Record Submission Due Date for 2017–18 Direct Loan Program Year Closeout: Federal Student Aid previously informed schools in a February 5, 2019 Electronic Announcement that the closeout deadline for the 2017–18 Direct Loan Program Year is Wednesday, July 31, 2019. This is the last processing day before the end of the program year. 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. For guidance on what schools must do to be considered successfully closed out. Please review the May 3, 2019 electronic announcement for additional information.

Gainful Employment (GE) Electronic Announcement #119 –  2019 GE Disclosure Template: Institutions will have until July 1, 2019 to update disclosures for each of their GE programs using the 2019 GE Disclosure Template and to post them to the program webpages. Any institution web page containing academic, cost, financial aid, or admissions information about a GE program must include the GE Disclosure Template for that program or a prominent, readily accessible, clear, conspicuous, and direct link to the program’s disclosure template. Please review the May 9, 2019 electronic announcement for additional information

Draft 2020–2021 FISAP, Instructions, and Technical Reference: The 2020–2021 Fiscal Operations Report and Application to Participate (FISAP) in the Campus-Based programs is currently being revised. Federal Student Aid is providing draft versions of the FISAP, accompanying instructions, and technical reference so that schools can prepare the information needed for submission of the school’s final FISAP by the October 1, 2019 deadline.  The drafts are attached to this announcement. Schools will report fiscal activity on the 2018–2019 award year and apply for participation in the Campus-Based programs for 2020–2021. We expect the final 2020–2021 FISAP to be available in August 2019. Please review the April 29, 2019 electronic announcement for additional information.

RESOURCES

Updated Federal Perkins Loan Assignment and Liquidation Guide Now Available: The updated Assignment and Liquidation Guide is now available on the Campus-Based Processing Information Page on the Information for Financial Aid Professionals (IFAP) website. ) has been updated and restructured. The Guide has been updated to reflect necessary changes due to the transition of the business processes for the Campus-Based programs to the Common Origination and Disbursement (COD) System. In addition to making changes relating to the system transition, the Guide was updated to provide further clarity and detail on various steps in the process of assignment and for liquidation. Please review the May 3, 2019 electronic announcement for additional information.

2019-2020 Federal School Code List of Participating Schools (April 2019): The updated 2019-20 Federal School Code (FSC) List of Participating Schools is now available on the Information for Financial Aid Professionals (IFAP) website. The Federal School Code List contains the unique codes assigned by the Department of Education for schools participating in the Title IV federal student aid programs. Students enter these codes on the Free Application for Federal Student Aid(FAFSA) to indicate which postsecondary schools will receive the processed application results. Please review the April 30, 2019 electronic announcement for additional information.


FEDERAL REGISTERS:

  • 2019-05-06 Comment Request; Cancer Treatment Deferment Form

Other helpful information pages: The following are a few helpful links to information pages available on the IFAP website: COD System, Gainful Employment, Cash Management, Processing Resources, FAFSA and the IRS DRT and iLibrary, which includes many resources, such as a consolidated list of Electronic AnnouncementsDear Colleague Letters, and Federal Registers. Please review the IFAP 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.

2019-05-28T16:45:16+00:00