Latest News2020-07-30T21:21:58+00:00
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Fed-Updates Newsletter – June 30, 2020 (Updated July 30, 2020)
Newsletter topics: Reminder! 2018-19 Direct Loan Program Year Closeout Information! Deadline is July 31, 2020!Outage Alert, Reallocation Process, Notification of Campus-Based Funding, Title IV Institutional Survey, Interruptions of study -COVID-19,TEACH Grant closeout, FY 21 Sequester-Required Changes, FAFSA Spring Campaign, New Call Center Hours for COD School Relations Center, Training Workshops, Next Gen FSA – StudentAid.gov Website Enhancements, Direct Loan Origination Fee Change, Spotlight on FA Solutions Services – Student Experience Center,  Federal Registers, 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.


2020-07-31 IMPORTANT REMINDER: Additional 2018–19 Direct Loan Program Year Closeout Information: Over the past few months, Federal Student Aid provided information about 2018–19 Direct Loan Program Year closeout (see the January 31, 2020 Electronic Announcement and the May 7, 2020 Electronic Announcement). The closeout deadline to submit records is 8 p.m. Eastern time (ET) on Friday, July 31, 2020. This July 1, 2020 electronic announcement supplements the previous guidance and includes important reminders.

2020-07-17: OUTAGE ALERT – Possible Intermittent COD Website Outages on July 16 and July 21, 2020: Please review the July 16, 2020 electronic announcement for additional information.

2020-07-07: Information about the Reallocation Process, the 2019–20 Campus-Based Reallocation Form, and the Process to Request Supplemental Federal Work-Study Funds for 2020–21: This announcement provides information about the reallocation process, the availability of the 2019–20 Campus-Based Reallocation Form, and the action schools need to take to request supplemental funds for 2020–21. Schools use the reallocation process to release unexpended portions of their 2019–20 allocations in the Federal Work-Study (FWS) and/or Federal Supplemental Educational Opportunity Grant (FSEOG) programs or to request supplemental 2020–21 FWS funds that will be used to employ students in community service jobs. As announced in the Federal Register notice, “Campus-Based Programs 2020–21 Award Year Deadline Dates,” the deadline date by which a school must electronically submit its 2020–21 Campus-Based Reallocation Form is Monday, August 17, 2020.


2020-06-26
 – Notification of Campus-Based Funding for the 2020–21 Award Year Posted Date: Awards for the Federal Supplemental Educational Opportunity Grant (FSEOG) and Federal Work-Study (FWS) programs, authorized under Title IV of the Higher Education Act of 1965, as amended, for the 2020–21 Award Year (July 1, 2020 through June 30, 2021) have been approved for the schools listed in the report attached to this electronic announcement. Please review this electronic announcement for additional information.

2020-06-29 Title IV Institutional Survey — Web Survey to Begin June 29, 2020: As part of ongoing efforts to ensure that Federal Student Aid and the Department of Education provide the school community with resources to assist them in administering the Title IV programs on their campuses, these offices have implemented a Title IV Institutional Survey. An independent vendor, CFI Group, will conduct the Title IV Institutional Survey electronically and will launch this web survey on June 29, 2020. The survey will close by July 31, 2020. Please review this electronic announcement for additional information.

2020-05-15UPDATED Guidance for interruptions of study related to Coronavirus (COVID-19) (Updated June 16, 2020): This electronic announcement was updated on June 16, 2020, extending the timeframe for relief from Return of Title IV Funds requirements provided under the CARES Act to periods that include March 13, 2020, or begin between March 13 and the later of December 31 or the last date that the national emergency is in effect. Federal Student Aid also clarified that an institution cannot automatically apply CARES Act Return of Title IV Funds relief to all students who withdraw during a payment period or period of enrollment unless a disruption to instruction occurred during that period. Please review this electronic announcement for additional information.

2020-06-02 TEACH Grant Closeout Information for 2019–20 Award Year: The Teacher Education Assistance for College and Higher Education (TEACH) Grant data submission deadline for the 2019–20 Award Year is Wednesday, September 30, 2020.  This is the last processing day of the award 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. Please review this electronic announcement for additional information.

2020-06-23 FY 21 Sequester-Required Changes to the Title IV Student Aid Programs: Because the Budget Control Act of 2011 (the sequester law) remains in effect, with respect to the Title IV programs, this announcement provides information regarding sequester-required changes to Direct Loan fees and sequester-required changes in the percentage reduction that institutions must apply to awards in the Iraq-Afghanistan Service Grant and TEACH Grant programs where the first disbursement is on or after October 1, 2020. Please review this electronic announcement for additional information.

2020-05-202020–21 FAFSA Spring Campaign: The week of May 18, 2020, Federal Student Aid began sending emails and mobile app push notifications, when applicable, to 2019–20 Free Application for Federal Student Aid (FAFSA) filers (and parents of dependent 2019–20 FAFSA filers) who have not yet submitted a 2020–21 FAFSA form.

The goal of the campaign is to remind customers that the 2020–21 FAFSA form is available and should be completed soon for those going to school between July 1, 2020, and June 30, 2021. Students and parents can complete and submit the 2020–21 FAFSA form electronically via fafsa.gov or via the Apple or Android version of the myStudentAid mobile app using the myFAFSA function. Please review this electronic announcement for additional information.

2020-05-21 – New Call Center Hours for COD School Relations Center Effective May 26, 2020: On May 26, 2020, the hours for the COD School Relations Center changed. The new hours are listed in an attachment to the May 26, 2020 electronic announcement. Please review this electronic announcement for additional information.

2019-07-18(Updated May 21, 2020) Training Workshops – Fundamentals of Federal Student Aid Administration: This is an update on the Fundamentals of Federal Student Aid Administration training workshops that were cancelled due to COVID-19. Please review this electronic announcement for additional information.

2020-06-29 – Next Gen FSA – StudentAid.gov Website Enhancements Starting June 2020: Forward progress continues on the Next Gen FSA initiative and StudentAid.gov, Federal Student Aid’s single front door on the web for students, parents, and borrowers. On June 28, 2020, additional updates to features designed to promote financial literacy and improve the information and self-service tools available to Federal Student Aid. These updates continue to provide students, parents, and borrowers with clear, actionable information about the aid they have received and personalized guidance on the loan repayment process. Please review this electronic announcement for additional information.

2020-06-22 Reminder to report ownership/control by, and contracts/gifts from, foreign sources: This announcement is to remind institutions of their statutory reporting obligation under Section 117 of the Higher Education Act (“Section 117”) (20 U.S.C. § 1011f) and to announce the new system that institutions will use to discharge their statutory obligations. Section 117 requires institutions to disclose to the U.S. Department of Education information about ownership and control by foreign sources, contracts with foreign sources, and gifts from foreign sources. Please review this electronic announcement for additional information.

2020-06-29 Operational Guidance for Direct Loan Origination Fee Change Oct. 1, 2020: On June 23, 2020, Federal Student Aid published an Electronic Announcement that explains the sequester required changes to the Title IV federal student aid programs. The June 23, 2020 Electronic Announcement notes decreased origination fees for Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS Loans (for both parent and graduate student borrowers) with a first disbursement on or after Oct. 1, 2020 and before Oct. 1, 2021. In this announcement, we remind schools how the Common Origination and Disbursement (COD) System will process Direct Loans with the new origination fees and how to correct records if necessary. Please review this electronic announcement for additional information.

Spotlight on FA Solutions Services – Student Experience Center (SEC):  Our Student Experience Center service can be very helpful during peak periods and especially during this time when so many students are working on their degrees remotely. Our SEC solution can be tailored to fit your institutions unique needs and offers seamless, comprehensive support for Financial Aid, Admissions, Enrollment, and Reenrollment efforts. The SEC is staffed by our professional team of Financial Aid Advisers and Enrollment Specialists who will assist prospective and/or current students in these student service areas for short term or long term engagements. Our school partners are also currently utilizing this service to assist with student “care calls.” Please contact Pam Notemyer Rogers at pnotemyer@getfasolutions.com for additional information.

FEDERAL REGISTERS

RESOURCES


DEPARTMENT OF EDUCATION:

NASFAA:


The following are a few helpful links to information pages available on the IFAP website:  Early FAFSA, Grant and Direct Loan (COD) Processing InformationTraining Resources, and iLibrary, which includes many resources, such as a consolidated list of Electronic AnnouncementsDear Colleague LettersFederal Registers,and NSLDS reference materials and more. 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.

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Fed-Updates Financial Aid Newsletter – June 30, 2020  Newsletter topics: Notification of Campus-Based Funding, Title IV Institutional Survey, Interruptions of study -COVID-19,TEACH Grant closeout, FY 21 Sequester-Required Changes, FAFSA Spring Campaign, New Call Center Hours for COD School Relations Center, Training Workshops, Next Gen FSA – StudentAid.gov Website Enhancements, Direct Loan Origination Fee Change, Spotlight on FA Solutions Services – Student Experience Center,  Federal Registers, and various resources Note: Fed-Updates newsletter updates are excerpts from original announcements posted on the IFAP website. Please review the entire update
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Fed-Updates Financial Aid Newsletter – May 12, 2020 (updated May 18, 2020) Newsletter topics: Spotlight on FA Solutions Services – Student Experience Center, Higher Education Emergency Relief Fund Reporting, 2018–19 Direct Loan Program Year Closeout, Annual DUNS Number Registration Renewal, Next Gen FSA, 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,
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Fed-Updates Financial Aid Newsletter – April 14, 2020 Newsletter topics: CARES Act, Updated Guidance – COVID-19, eZ-Audit Reporting Requirements, Annual Student Loan Acknowledgement, Foreign Schools – Financial Statement Audits and Compliance Attestation Engagements, COD System, 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
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Fed-Updates Financial Aid Newsletter – March 19, 2020 Newsletter topics: FA Solutions Update from our CEO, Guidance -Interruptions of study due to Coronavirus, Site Visit Exemption During COVID-19 Outbreak, FWS Community Service Waiver Requests, First Pell Grant Administrative Cost Allowance Payments, Federal Pell Grant Payment and Disbursement Schedules, New Form – Forgery Loan Discharge Process for ED-held Loans,  Additional StudentAid.gov Website Features, Closeout of all 2018–19 Campus-Based program awards, CPS Reprocessing on March 10, 2020, Enforcement of Cybersecurity Requirements under the Gramm-Leach-Bliley Act, Annual Student
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Fed-Updates Financial Aid Newsletter – February 4, 2020 (updated February 13, 2020) Newsletter topics: Federal Holiday Processing & Customer Service Hours,2019-20 COD System Peak Processing Reminders, Unconfirmed TG Numbers (SAIG Mailboxes), Two-Factor authentication tokens, FSA User IDs, Federal Work Study,  Reporting gifts and ownership and control by foreign sources, Application for participation in Work Colleges Program,  Temporary Closures of Federal Loan Servicing Centers, Live webinar – State process alternative for students without a high school diploma
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Fed-Updates Financial Aid Newsletter – December 17, 2019 Newsletter topics: FSA Website & System Outages, FSA Website Consolidation, Federal Office Holiday hours, Designation of Title III or Title V status, Direct Loan Program Notice of Reconciliation for TEACH Grant Program and Faith-based Entities, COD School Testing, and various Federal Register Notices 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
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Fed-Updates Financial Aid Newsletter – December 3, 2019 Newsletter topics: Active Confirmation of SAIG Mailboxes, Disbursement Reporting, Excess Cash, and Reconciliation Requirements, IRS Tax Return Transcript Matrix, 2016 Borrower Defense Regulations, Master Promissory Note Confirmation Processes, College Scorecard Metrics by Field of Study, Federal Register Notices and various resources. (Some new updates were added to this website version of the newsletter on December 16, 2019 that were not available on December 3rd.) Note: Fed-Updates newsletter updates are excerpts from original announcements posted on

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