Fed-Updates Newsletter – February 4, 2020 (updated February 13, 2020)

Fed-Updates  Financial Aid Newsletter – February 4, 2020 (updated February 13, 2020)

2019-20 COD System Peak Processing Reminders : The peak processing period for the 2019-20 Award Year began last month. To assist schools with planning and processing, Federal Student Aid has issued important reminders as outlined in this December 19, 2019 electronic announcement .

Access Removed for Unconfirmed TG Numbers (SAIG Mailboxes) and Electronic Services User Accounts: In October 2019 every organization enrolled for a Student Aid Internet Gateway (SAIG) account was asked to review and validate its assigned TG numbers by December 13, 2019. Access to enrolled services has been removed for accounts that have not been actively confirmed. Please review this December 19, 2019 electronic announcement for information on how to restore access to these accounts.

TFA Tokens Must Not Be Shared by Multiple FSA User IDs : Professional users of Federal Student Aid (FSA) systems and websites that require Two-Factor Authentication (TFA) tokens, are reminded that tokens must  not  be shared. One authorized user—identified by a unique FSA User ID—is permitted per token. Users will be removed from tokens that are being shared by multiple FSA User IDs, and this will result in loss of access to Federal Student Aid systems. For additional information, please review this December 19, 2019 electronic announcement .

Guidance related to Federal Work Study (FWS) recipients affected by California wildfires or power outages: In this announcement, the U.S. Department of Education (Department) is issuing guidance in response to institutions that closed campuses during the Fall 2019 payment period due to wildfires or related power outages in California. The Federal Emergency Management Agency (FEMA) has not declared California, as a result of these fires and power outages, a major disaster as defined in The Robert T. Stafford Disaster Relief and Emergency Assistance Act (42 U.S.C. 5122(2)); however, a number of campuses were required to close one or more times as a result of the wildfires or related power outages.

The Department is providing flexibility to institutions in complying with the requirements established in 34 CFR 675.16 (a)(5), which states that FWS compensation is earned when the student performs work. Please review this December 23, 2019 electronic announcement for additional information.

Section 117 of the Higher Education Act – Reporting ownership and control by foreign sources and gifts from and contracts with foreign sources: This announcement is to remind postsecondary institutions of their legal obligation to report to the Department of Education ownership and control by foreign sources as well as gifts from and contracts with foreign sources that have a total value of $250,000 or more within a given calendar year. Institutions are obligated to file a disclosure report with the Secretary on January 31 and July 31. When schools do not meet the requirements in Section 117 of the HEA the Secretary of Education may request that the Department of Justice undertake a civil action in federal district court to ensure compliance. Please review this December 23, 2019 electronic announcement for additional information.

Application for Participation in the Work Colleges Program: This Electronic Announcement provides information about the application process for schools interested in participating in the Work Colleges Program under the Federal Work-Study (FWS) Program for the 2020–21 Award Year. To participate in this program the school must comply with all provisions of Section 448 of the Higher Education Act of 1965, as amended (HEA), and the applicable program regulations included in Subpart C of 34 CFR Part 675.

Any school interested in participating in the Work Colleges Program for the 2020–21 Award Year (including schools that are currently participating in the 2019–20 Award Year) must apply no later than March 2, 2020. This deadline applies to both the electronic submission and the required signed paper copy (signed by the school’s Chief Executive Officer /CEO). Note:  The Work Colleges Application is  not  an application to participate in the FWS Program. Please review the January 27, 2020 electronic announcement for additional information.

Loan Servicing Information – Temporary Closures of Federal Loan Servicing Centers Due to Hazardous Weather Conditions: Please review this January 28, 2020 electronic announcement for information on how Federal Loan Servicers will operate during hazardous weather conditions and when they may need to close temporarily.

January 3, 2020 – Federal Student Aid Posts New Reports to FSA Data Center

January 10, 2020 – Renewal of Service members Civil Relief Act (SCRA): Interest Rate Limitation Request Form

January 10, 2020 – Renewal of Private Education Loan Applicant Self-Certification form for use by institutions and private education loan lenders

December 18, 2019 – GA-2019-03: Fiscal Year 2017 Cohort Default Rate Calculations

January 7, 2020 – FFEL Special Allowance Rates During the Quarter Ending December -31-2019

January 7, 2020 – Appendix A-F [2019-2020 Federal Student Aid Handbook]

December 20, 2019 – Volume 2 – School Eligibility and Operations [2019-2020 Federal Student Aid Handbook]

FEDERAL REGISTERS:

January 3, 2020 – Campus Based Programs 2020-21 Award Year Deadline Dates

January 15, 2020 – Interest Rates for Variable-Rate Federal Student Loans Made Under the Direct Loan Program

January 15, 2020 – Interest Rates for Variable-Rate Federal Student Loans Made Under the FFEL Loan Program Prior to July 1, 2010

January 15, 2020 – Interest Rates for Fixed-Rate Federal Student Loans Made Under the Direct Loan Program

January 14, 2020 – Adjustment of Civil Monetary Penalties for Inflation

January 13, 2020 – Annual Designation of Title III and Title V Schools and Waiver Process

Thank you for taking the time to review our newsletter!

Rob Wright