FinAid – Ever changing and ALWAYS challenging.
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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 original announcements posted on the IFAP website so 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 will find additional information on the IFAP website. See also links to select IFAP information pages at the end of this newsletter.
The myStudentAid Mobile App is now available: Students and parents may now download the myStudentAid app from both the Apple App Store (iOS) and Google Play (Android). The myStudentAid mobile app will provide the following functionality:
- myFAFSA: complete the FAFSA safely and securely from your mobile device
- Profile: edit/manage an FSA ID
- myFederalLoans: view federal student loan and aid history
- Studentaid.gov: access FSA’s signature source of information on student financial aid products, processes and services
- Contact Us: contact information for FSA’s contact centers
For additional information, please review the August 16, 2018, electronic announcement.
DHS-SAVE System Available for Schools to Submit Third Step Verification Requests: In an earlier electronic announcement Federal Student Aid (FSA) explained that the SAVE system was not available for schools due to a DHS-SAVE system hierarchy issue. This issue has been resolved and institutions may resume submitting third step verification requests to the SAVE system. Please review the August 13, 2018 electronic announcement for additional information.
Notice of Proposed Rulemaking: Gainful Employment: On August 14, 2018, the Department published in the Federal Register a notice of proposed rulemaking to rescind the gainful employment (GE) regulations, which added subpart Q of the Student Assistance General Provisions for programs that prepare students for gainful employment in a recognized occupation. The Department also announces plans to update the College Scorecard, or a similar web-based tool, to provide program-level outcomes for all higher education programs, at all institutions that participate in the programs authorized by title IV of the Higher Education Act of 1965, as amended, which would improve transparency and inform student enrollment decisions through a market-based accountability system. The public will have 30 days, until September 13, 2018 at 11:59 EDT, to provide comments through www.regulations.gov. Please review the August 15, 2018 electronic announcement for additional information.
2019-2020 Expected Family Contribution (EFC) Formula Guide: This guide is now available and includes EFC worksheets and tables for the 2019–20 processing cycle. The worksheets and tables in this guide can be used to calculate an estimated EFC for students. The methodology for determining the EFC is found in Part F of Title IV of the Higher Education Act of 1965, as amended (HEA). For additional information, please review the August 20, 2018 electronic announcement.
Availability of EDExpress for Windows 2018-2019, Release 3.0: This resource recently became available on the Federal Student Aid Download (FSAdownload) Website, located at https://fsadownload.ed.gov. For additional information, please review the August 10, 2018 electronic announcement.
2018-2019 COD Technical Reference (August 2018 Update): The updated 2018-2019 Common Origination and Disbursement (COD) Technical Reference recently became available. This resource contains development information for the 2018–19 Award Year. Please review the August 16, 2018, electronic announcement update for additional information.
FEDERAL REGISTERS – Due to limited space in FA Solutions’ Fed-Updates Newsletter, only the links to Federal Register notices are provided here.
- Posted Date: August 15, 2018 – Notice of Proposed Rulemaking (NPRM) on Gainful Employment in PDF 342KB, 17 Pages
INFORMATION PAGES FOR SCHOOLS TO MONITOR WEEKLY: The list below represents just a few of the information pages available on the IFAP website. Please review the organization’s website for additional guidance, resources, deadlines, and information related to the administration and processing of Title IV federal student aid.
- COD System – Schools are urged to regularly monitor this page, which includes COD Processing News/Updates.
- NSLDS newsletters, user guides and technical documents
- Gainful Employment
- Early FAFSA
- Cash Management
- Loan Servicing and Collection
- Perkins Loan FAQs
- 150 Percent Direct Subsidized Loan Limit Information
- Application Processing (Electronic Announcements)
- The iFAP iLibrary includes many resources — including a consolidated list of Electronic Announcements, Dear Colleague Letters, and Federal Registers.
Thank you for taking the time to review our newsletter!
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.