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.
OUTAGE ALERT – G5 System Outage November 10-19, 2018 – Impact to Federal Student Aid Processing and on Funds Availability for Title IV Programs (updated October 17, 2018): On October 17, 2018, Federal Student Aid (FSA) updated an October 11, 2018 electronic announcement to correct the disbursement date range that will be accepted by the COD System prior to the outage. Schools can only submit actual disbursements 7 calendar days in advance. As a result, the correct disbursement date range that can be submitted prior to 10 a.m. ET on Friday, November 9th is November 10th through November 16th. Disbursements with a disbursement date after November 16th will be processed and funded after the outage. In addition, FSA clarified that schools submitting records by the deadline on November 9th can draw those funds after 2 p.m. on November 9th. During the period of November 10-19, 2018, the Department of Education will perform extended system maintenance to its core financial systems, including G5. Please review the October 11, 2018 electronic announcement to determine how processing at your school will be affected.
Active Confirmation of TG Numbers (SAIG Mailboxes) and Electronic Services User Accounts Required by December 14, 2018 to Maintain Access to Federal Student Aid Systems: Every organization enrolled for a Student Aid Internet Gateway (SAIG) account is required to review and validate its assigned TG numbers and Electronic Services user accounts by December 14, 2018. This includes TG numbers (SAIG mailboxes) with access to the NSLDS Professional Access website, the COD Web Site, and all FAA Access to CPS Online and EDconnect user accounts. It also includes TG numbers enrolled for SAIG batch services for the National Student Loan Data System (NSLDS), the Central Processing System (CPS), the Common Origination and Disbursement (COD) System, and the Financial Management System (FMS). Failure to accurately complete this process by December 14, 2018 will result in loss of access to Federal Student Aid data systems, Management System (FMS) and other services. Please review the October 22, 2018 electronic announcement for additional information.
2019-20 fafsa.gov Preview Presentation: To assist the community with the 2019–20 Free Application for Federal Student Aid form (FAFSA) processing cycle, FSA has made available a Microsoft PowerPoint presentation containing information and screen shots pertaining to the 2019–20 fafsa.gov website. The presentation is intended to provide financial aid administrators (FAAs), mentors, and counselors with screen shots that can be used as a reference tool for the site. The information can be used for internal staff training or for high school financial aid night presentations. Please review the October 12, 2018 electronic announcement for additional information, including a link to the presentation.
Federal Family Education Loan Program Special Allowance Rates for the Quarter Ending September 30, 2018: Information regarding these rates is available in the October 12, 2018 electronic announcement.
FEDERAL REGISTERS – Due to limited space in FA Solutions’ Fed-Updates Newsletter, only the titles and links to Federal Register notices and related electronic announcements are provided here.
- October 15, 2018 – Negotiated Rulemaking Committee – Negotiator Nominations and Schedule of Committee Meetings – Accreditation and Innovation: https://ifap.ed.gov/eannouncements/101518NegotNomCommitteAccredInnovation.html
- October 17, 2018 – Application to Pilot; FSA’s Next Generation Financial Services Environment–Payment Vehicle Account Program Pilot: https://ifap.ed.gov/fregisters/FR101718.html
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.
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