Latest News2019-06-13T20:34:49+00:00
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Fed-Updates Financial Aid Newsletter – June 13, 2019
Newsletter topics: FSA Chicago office change of address, Gainful Employment, Campus based funding, FAFSA, TEACH Grant Closeout Information, 2016 Borrower Defense to Repayment Regulations, Sequester-Required Changes to Title IV Programs,  Direct Loan Origination Fee Change, Federal Register posts 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. Deadlines and event dates noted in our newsletters are subject to change as determined by the Department of Education. 


Change of Address for Federal Student Aid’s Chicago Regional Office: Please review the June 7, 2019 electronic announcement for the new address.

Gainful Employment Electronic Announcement # 120 – Announcement of Applicable 2019 GE Compliance Dates: This electronic announcement is a reminder for institutions that they will soon need to comply with the provisions of the Gainful Employment (GE) regulations in 34 CFR 668.412 (d) and (e). Beginning on July 1, 2019, affected institutions will be required to provide a prospective student or a third party acting on behalf of the prospective student, as a separate document, a copy of the disclosure template before the prospective student signs an enrollment agreement, completes registration, or makes a financial commitment to the institution. For additional information and guidance, please review the May 23, 2019, electronic announcement.

Gainful Employment Electronic Announcement #121 – Additional Guidance on Completing the 2019 GE Disclosure Template: This June 7, 2019 electronic announcement provides answers to some common questions regarding the 2019 Gainful Employment Disclosure Template (GEDT). The announcement also includes a link to the 2019 GE Disclosure Template.

Notification of Campus-Based Funding for the 2019–20 Award Year: Federal Student Aid has posted a report that notifies the community of the approved awards for the Federal Supplemental Educational Opportunity Grant (FSEOG) and Federal Work-Study (FWS) programs for the 2019–20 Award Year. To access this report, refer to the document titled, “Notification of Campus-Based Funding for the 2019–20 Award Year,” posted on the Campus-Based Awards page of the Information for Financial Aid Professionals (IFAP) website. Note: In some cases, a school became eligible for awards after the report was produced and therefore is not reflected in this notification. Please review the May 28, 2019 electronic announcement for additional information.

2020–2021 Award Year: FAFSA Information to be Verified and Acceptable Documentation: This Dear Colleague Letter provides information that supplements the 2020–2021 award year verification information provided in the Federal Register notice published on May 24, 2019. On May 24, 2019, Federal Student Aid published a Federal Register notice announcing the 2020–2021 Free Application for Federal Student Aid (FAFSA) items that may require verification for an applicant selected for verification by the Department of Education, as well as the acceptable documentation for those items. The 2020–2021 FAFSA items that may require verification and the 2020–2021 Verification Tracking Groups are the same as those for the 2019–2020 award year. Also, there were changes to the acceptable documentation requirement for 2020–2021, as specified in the Federal Register notice. Please review the June 7, 2019 Dear Colleague Letter (DCL ID: GEN-19-02) for additional information.

Availability of MyStudentData Download Guide for the 2020–21 FAFSA form: The 2020–2021 FAFSA MyStudentData Download guide is now available; it includes the record layout for the download file that will be available to users of the 2020–21 Free Application for Federal Student Aid (FAFSA) form on fafsa.gov. The FAFSA MyStudentData Download function allows students to download processed results from their FAFSA form into a machine-readable, plain text file. This function is available to students with a valid FSA ID for whom a FAFSA form has been processed. Please review the June 7, 2019 electronic announcement for additional information.

TEACH Grant Closeout Information for 2018-19 Award Year: The Teacher Education Assistance for College and Higher Education (TEACH) Grant closeout deadline for the 2018–19 Award Year is Monday, September 30, 2019. 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 the June 7, 2019 electronic announcement for additional information.

Compliance with the 2016 Borrower Defense to Repayment Regulations Questions and Answers: This electronic announcement includes, as an attachment, a Questions and Answers (Q&A) document related to the final regulations published by the Department in the Federal Register on November 1, 2016, concerning borrower defense to repayment and other related matters. 81 Fed. Reg. 75,926.  This information supplements the electronic announcement issued on March 15, 2019, with the subject heading “Guidance Concerning Some Provisions of the 2016 Borrower Defense to Repayment Regulations” and the electronic announcement issued on May 20, 2019, with the subject heading, “Questions Regarding the Financial Responsibility Provisions of the 2016 Borrower Defense Regulations.”  This information supersedes any previous information that may have been provided on the issues below. Please review the June 3, 2019 electronic announcement for additional information.

FY 20 Sequester-Required Changes to the Title IV Student Aid Programs: Because the Budget Control Act of 2011 (the sequester law) remains in effect, 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, 2019. Please review the May 30, 2019 electronic announcement for additional information.

Operational Guidance for Direct Loan Origination Fee Change October 1, 2019: Federal Student Aid has posted an electronic announcement to 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 the June 5, 2019 electronic announcement for additional information.


FEDERAL REGISTERS

May 29, 2019 – FAFSA Information To Be Verified for the 2020-2021 Award Year

May 31, 2019 –  Federal Need Analysis Methodology for the 2020-21 Award Year

RESOURCES

May 31, 2019 – Federal Student Aid Handbook Appendices  [2018-2019 Federal Student Aid Handbook]

June 11, 2019 – Application and Verification Guide [2019-2020 Federal Student Aid Handbook]

June 5, 2019 – 2018-2019 Errata and Updates for 2018-2019 FSA Handbook

June 7, 2019 – FFEL variable interest rates Period: July 1, 2019 to June 30, 2020

June 5, 2019 – Upcoming Quarterly SAIG Message Class File Update

June 10, 2019 – (EDESuite) Availability of Direct Loan (DL) Tools for Windows, Release 19.0


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.

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January 31, 2019 FinAid – Ever changing and ALWAYS challenging. If you would like to subscribe to the newsletter, please reach out to us directly or fill in your information at the bottom of the homepage of our FA Solutions website. Thank you! Rob Wright,  rwright@getfasolutions.com Pam Notemyer Rogers, pnotemyer@getfasolutions.com Please note that deadlines and event dates noted in all of our newsletters are always subject to change as determined by the Department of Education. Important Note:  FA Solutions‘ Fed-Updates Newsletter
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January 15, 2019 FinAid – Ever changing and ALWAYS challenging. If you would like to subscribe to the newsletter, please reach out to us directly or fill in your information at the bottom of the homepage of our FA Solutions website. Thank you! Rob Wright,  rwright@getfasolutions.com Pam Notemyer Rogers, pnotemyer@getfasolutions.com Please note that deadlines and event dates noted in all of our newsletters are always subject to change as determined by the Department of Education. Important Note:  FA Solutions‘ Fed-Updates Newsletter
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January 3, 2019 FinAid – Ever changing and ALWAYS challenging. If you would like to subscribe to the newsletter, please reach out to us directly or fill in your information at the bottom of the homepage of our FA Solutions website. Thank you! Rob Wright,  rwright@getfasolutions.com Pam Notemyer Rogers, pnotemyer@getfasolutions.com Please note that deadlines and event dates noted in all of our newsletters are always subject to change as determined by the Department of Education. Important Note:  FA Solutions‘ Fed-Updates Newsletter
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December 13, 2019 FinAid – Ever changing and ALWAYS challenging. If you would like to subscribe to the newsletter, please reach out to us directly or fill in your information at the bottom of the homepage of our FA Solutions website. Thank you! Rob Wright,  rwright@getfasolutions.com Pam Notemyer Rogers, pnotemyer@getfasolutions.com Please note that deadlines and event dates noted in all of our newsletters are always subject to change as determined by the Department of Education. Important Note:  FA Solutions‘ Fed-Updates Newsletter
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November 27, 2018 FinAid – Ever changing and ALWAYS challenging. If you would like to subscribe to the newsletter, please reach out to us directly or fill in your information at the bottom of the homepage of our FA Solutions website. Thank you! Rob Wright,  rwright@getfasolutions.com Pam Notemyer Rogers, pnotemyer@getfasolutions.com Please note that deadlines and event dates noted in all of our newsletters are always subject to change as determined by the Department of Education. Important Note:  FA Solutions‘ Fed-Updates Newsletter
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November 8, 2018 FinAid – Ever changing and ALWAYS challenging. If you would like to subscribe to the newsletter, please reach out to us directly or fill in your information at the bottom of the homepage of our FA Solutions website. Thank you! Rob Wright,  rwright@getfasolutions.com Pam Notemyer Rogers, pnotemyer@getfasolutions.com Please note that deadlines and event dates noted in all of our newsletters are always subject to change as determined by the Department of Education. Important Note:  FA Solutions‘ Fed-Updates Newsletter
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FinAid – Ever changing and ALWAYS challenging. If you would like to subscribe to the newsletter, please reach out to us directly or fill in your information at the bottom of the homepage of our FA Solutions website. Thank you! Rob Wright,  rwright@getfasolutions.com Pam Notemyer Rogers, pnotemyer@getfasolutions.com Please note that deadlines and event dates noted in all of our newsletters are always subject to change as determined by the Department of Education. Important Note:  FA Solutions‘ Fed-Updates Newsletter updates are excerpts from
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FinAid – Ever changing and ALWAYS challenging. If you would like to subscribe to the newsletter, please reach out to us directly or fill in your information at the bottom of the homepage of our FA Solutions website. Thank you! Rob Wright,  rwright@getfasolutions.com Pam Notemyer Rogers, pnotemyer@getfasolutions.com Please note that deadlines and event dates noted in all of our newsletters are always subject to change as determined by the Department of Education. Important Note:  FA Solutions‘ Fed-Updates Newsletter updates are excerpts from

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