Fed-Updates Financial Aid Newsletter – November 12, 2019

Newsletter topics: FSA Website and System Outages, Thanksgiving Holiday Processing/Customer Service Hours, FSA Training Conference, Revised Policy for Standard Term Length, Single Audit Submission Requirements, Federal Perkins Loan Program Cash on Hand, FISAP Edit Corrections, Final Regulations on Accreditation and State Authorization, 2019-2020 Award Year Deadline Dates, Federal Register notices, and various resources.

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.


OUTAGE ALERT – Federal Student Aid Website and System Outages: During the period November 15-18, 2019, Federal Student Aid plans to complete important system work that will impact the MYEDDEBT.ed.gov website and the Default Resolution Group contact center. Additionally, the Internal Revenue Service Data Retrieval Tool will be unavailable for an extended period of time over the same weekend. This work is in addition to the regular weekly maintenance that occurs each weekend. Please review information about the upcoming outage in the November 8, 2019 electronic announcement.

Thanksgiving Day Federal Holiday Processing and Customer Service Hours: Department of Education federal offices as well as the Department’s Title IV processors and contact centers will be closed on Thursday, November 28, 2019 to observe the Thanksgiving Day federal holiday. In addition, some of the Title IV processors and contact centers will have additional closures on the days surrounding the holiday. Please see the November 15, 2019 electronic announcement, including the attachment, for additional information.  FA Solutions will also be closed Thanksgiving Day, as well as the day after.

2019 Federal Student Aid Training Conference (FSATC) Updates: The following updates will be coming soon to the FSATC website for the conference scheduled for December 3 – 6, 2019.

  • Conference agenda
  • Conference program
  • Updated session descriptions
  • Conference mobile app download information

Revised Policy for Standard Term Length: Many institutions have asked the Department of Education for increased flexibility to modify the length of their terms to better accommodate the needs of students and the specialized coursework associated with certain types of educational programs. In response, the Department reviewed its “standard term” policy and has announced changes as outlined in the November 5, 2019 electronic announcement.

Single Audit Submission Requirements for Fiscal Years Ending Within Calendar Year 2019 and Future Fiscal Years: On March 29, 2018, the Department issued an announcement concerning Single Audits performed under 2 CFR Part 200 – OMB Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards for fiscal years ending in 2018. This guidance serves to update Single Audit filers of audit submission requirements for fiscal years ending within calendar year 2019 and future fiscal years. Please review the November 5, 2019 electronic announcement for additional information.

Federal Perkins Loan Program Cash on Hand Update due December 13, 2019: As published in the Federal Register notice on January 24, 2019 (84 FR 351), Subject: 2019–2020 Award Year Deadline Dates for Campus-Based Programs, all schools that participate in the Federal Perkins Loan (Perkins Loan) Program must update and submit Part III, section A, Line 1.2 (Cash on hand and in depository as of 10/31/2019) on the Fiscal Operations Report for 2018–19 (on the 2020–21 FISAP) to the Department of Education (the Department) no later than 11:59 p.m. Eastern time (ET) on Friday, December 13, 2019. The November 12, 2019 electronic announcement is a reminder of the deadline and process for this action.

FISAP Edit Corrections December 13, 2019 Deadline: As published in the Federal Register notice on January 24, 2019 (84 FR 351), Subject: 2019–2020 Award Year Deadline Dates for Campus-Based Programs, any updates or corrections to the Fiscal Operations Report for 2018–19 and the Application to Participate for 2020–21 (FISAP) must be submitted to the Department of Education (the Department) no later than 11:59 p.m. Eastern time (ET) on Friday, December 13, 2019. The November 12, 2019 electronic announcement is a reminder of the deadline and process for this action.

FEDERAL REGISTERS

2019-11-01 Final Regulations on Accreditation and State Authorization: Please review Federal Student Aid’s November 1, 2019 electronic announcement for additional information, as well as a helpful analysis of these final regulations prepared by the National Association of Student Financial Aid Administrators (NASFAA) Policy and Federal Relations Staff as published on the NASFAA website.

2019-11-01 2019-2020 Award Year Deadline Dates for Reports and Other Records Associated with the FAFSA, FSEOG Program, FWS Programs, the Pell Grant Program, the Direct Loan Program, the TEACH Grant Program, and the Iraq and Afghanistan Service Grant Program.

RESOURCES           

2019-11-05 Volume 6- The Campus-Based Programs [2019-2020 Federal Student Aid Handbook]

2019-11-01 2020-21 Federal School Code List of Participating Schools (November 2019)

2019-10-30 COD Common Record XML Schema Version 4.


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, Training Resources, 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.

2019-12-12T22:26:30+00:00