Note: Fed-Updates newsletter updates are excerpts from original announcements posted on the IFAP website. 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’ll find additional information on the IFAP website. Reminder: Deadlines and event dates are noted in our newsletters are subject to change as determined by the Department of Education.
Reminder: FISAP due October 1, 2019: As announced in the 2019–20 Award Year Deadline Dates for the Campus-Based Programs, published in the Federal Register on January 24, 2019 (84 FR 351), the date by which a school must submit the FISAP and the required signature page is Tuesday, October 1, 2019. Please review the August 30, 2019 electronic announcement for additional information.
TEACH Grant Closeout Information for 2018–19 Award Year: In a June 7, 2019 Electronic Announcement, Federal Student Aid provided Teacher Education Assistance for College and Higher Education (TEACH) Grant Closeout information for the 2018–19 Award Year. This announcement provides additional information to supplement the previous guidance, including two separate deadlines for a school to consider as it completes TEACH Grant processing for the 2018–19 Award Year. Please review the September 9, 2019 electronic announcement for additional information.
Pell Grant and Iraq and Afghanistan Service Grant 2018–19 Award Year Processing Deadline: As required by regulations, and consistent with the Federal Register published on December 4, 2018, the final deadline for electronically transmitting Pell Grant and Iraq and Afghanistan Service Grant records for the 2018–19 Award Year to the Common Origination and Disbursement (COD) System is Monday, September 30, 2019. Please review the September 9, 2019 electronic announcement for additional information.
End of Federal Fiscal Year 2019 – Impact on Funds Availability for Campus-Based, Pell Grant, Iraq and Afghanistan Service Grant, TEACH Grant, and Direct Loan Programs – Modified G5 and COD System Processing Schedule: The federal fiscal year for the Department of Education (the Department) ends on Monday, September 30, 2019. Some of the Department’s core financial systems, including G5, will be on a modified processing schedule on September 30, 2019 through October 1, 2019 while the Department finalizes its processing and accounting for fiscal year 2019. These modifications will impact how the Common Origination and Disbursement (COD) System will process financial data and when schools can obtain funds for the federal student aid programs. Please review the September 9, 2019 electronic announcement for additional information.
Unofficial Publication of the Institutional Accountability Final Regulations: Today, the U.S. Department of Education (Department) finalized regulations that will protect student borrowers, hold higher education institutions accountable and provide financial protections to taxpayers. The regulations will take effect July 1, 2020; however, the regulations relating to certain financial responsibility provisions will be available for immediate implementation once they are officially published in the Federal Register. Please review the August 30, 2019 electronic announcement for additional information.
Revision of the Income-Driven Repayment Application: A revised version of the income-driven repayment plan application under OMB Control Number 1845-0102 is now available. The revised versions have an expiration date of August 31, 2021. The forms are for use by borrowers who are seeking the Revised Pay As You Earn (REPAYE), Pay as You Earn (PAYE), Income-Based Repayment (IBR), or Income-Contingent Repayment (ICR) for loans made under the William D. Ford Federal Direct Loan (Direct Loan) Program and the Federal Family Education Loan (FFEL) Program. Please review the September 5, 2019 electronic announcement for additional information. The revised form is attached to the announcement.
2020-2021 College Financing Plan: In July 2012, the U.S. Department of Education (ED) released the College Financing Plan (formerly known as the Financial Aid Shopping Sheet) format and asked institutions to voluntarily commit to using the College Financing Plan to supply financial aid information to students in a way that can be understood and compared easily. Last year, the Department released both a traditional template and a Responsive Preview, with features and improvements we wanted to test and on which we sought feedback. Working with the National Association of Student Financial Aid Administrators (NASFAA), the Department received valuable input from financial aid administrators, students, parents, and other stakeholders that was used to make improvements to last year’s Responsive Preview in order to finalize a single template for 2020-2021. The Department also reviewed the NASFAA report No Clear Winner: Consumer Testing of Financial Aid Award Letters. As a result, the Department kept many of the features of the Responsive Preview, while making other improvements based on feedback. Please review the September 5, 2019 electronic announcement for additional information on the final 2020-2021 version. The electronic announcement includes a link to information on the components institutions need to complete institutional College Financing Plans.
2019-09-06 Volume 5 – Withdrawals and the Return of Title IV Funds [2019-2020 Federal Student Aid Handbook]
2019-08-30 Volume 3 – Calculating Awards and Packaging [2019-2020 Federal Student Aid Handbook]
2019-09-06 EDExpress for Windows 2020-2021 Packaging Technical Reference Available on FSAdownload
2019-09-30 Upcoming Quarterly SAIG Message Class File Update
2019-09-04 Testing of Microsoft Windows 10 Operating System with EDESuite PC Products
- 2019-09-06 Comment Request; Foreign Gifts and Contracts Disclosures
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 Announcements, Dear 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.
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