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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 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) NOTE: On October 17, 2018, Federal Student Aid (FSA) updated this 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. Please review the updated October 11, 2018, electronic announcement for additional information.

 

Reminder: Federal Student Aid Training Conference for Financial Aid Professionals: Don’t forget to register for this year’s FSA Training Conference for financial aid professionals. The conference will take place from November 27 – November 30, 2018. There is no fee to register for the event, which offers a great opportunity to receive valuable training and critical updates from Department of Education (DOE) staff. Please review the October 22, 2018 electronic announcement for additional information. On Monday, November 26, 2018, the DOE will also host a Preconference Day specifically for foreign schools. The Multi-Regional and Foreign Schools Participation Division sent an email to foreign schools on October 25, 2018 about the upcoming conference and the sessions specifically created for them. Please review the November 1, 2018 electronic announcement for additional information.

 

November 11-12, 2018 IRS DRT Outages: The IRS DRT will be unavailable from 8 a.m. (EST) on Sunday, November 11, 2018 until 6 p.m. (EST) on Monday, November 12, 2018 as the IRS continues its work on these critical system upgrades. In the event the IRS is unable to complete its upgrades during the outage periods described above, an additional outage will be scheduled for the weekend of November 17-18, 2018. (Note: This information was originally published in an October 26, 2018 electronic announcement titled: Outage alert – Federal Student Aid Website and System Outages November 3-4 and November 11-12, 2018. FSA updated the announcement on November 1, 2018 and made available after FA Solutions published its October 23, 2018 issue of the Fed-Updates newsletter.)

 

Veterans Day Federal Holiday Processing and Customer Service Hours: Because the Veterans Day federal holiday falls on a Sunday, Federal Student Aid federal offices as well as some of its Title IV processors and contact centers will be closed on Monday, November 12, 2018 (the day after Veterans Day) to observe the Veterans Day federal holiday. Please review the November 2, 2018 electronic announcement for additional information.

 

Reprocessing and Voiding of a Small Population of 2018–2019 CPS Correction Transactions Planned After Resolution of Issue Involving Transfer of Incorrect Tax Year Data from IRS: Federal Student Aid is informing all schools that it has identified and fixed an issue that affected a small number of applicants who attempted to file a correction to their 2018–19 FAFSA between September 30, 2018 and October 4, 2018 and used the IRS Data Retrieval Tool (IRS DRT). This issue caused the transfer of 2017 tax year data to corrected transactions instead of the appropriate 2016 tax year data. This issue was resolved early on October 4, 2018. On October 26, 2018, the Central Processing System (CPS) conducted a reprocessing to update applicants impacted by this website issue. Please review the October 24, 2018 electronic announcement for additional information.

 

2019–20 FAFSA Email Campaign Launch: On October 29, 2018, Federal Student Aid began sending emails to 2018­–19 Free Application for Federal Student Aid (FAFSA) filers ­­­(and parents of dependent 2018–19 FAFSA filers) who have not yet submitted a 2019–20 FAFSA form.  The goals of the email campaign are to make customers aware that the 2019–20 FAFSA form is available and to encourage them to complete the form early. Students and parents can now complete and submit the 2019–20 FAFSA form electronically via fafsa.gov or via the myStudentAid mobile app. More information about the launch of the 2019–20 myStudentAid mobile app can be found in an October 2, 2018 electronic announcement. Please also review the October 25, 2018 electronic announcement for additional information about the email campaign launch.

 

FISAP Edit Corrections due December 14, 2018:  As published in the Federal Register Notice on January 3, 2018 (83 FR 356), Subject: 2018–2019 Award Year Deadline Dates for Campus-Based Programs, any changes, corrections or edits to the Fiscal Operations Report for 2017–18 and the Application to Participate for 2019–20 (FISAP) must be submitted to the Department of Education no later than 11:59 p.m. (EST) on Friday, December 14, 2018. Please review the October 26, 2018 electronic announcement for additional information.

 

Reminder: Federal Perkins Loan Program Cash on Hand Update due December 14, 2018: As published in the Federal Register Notice on January 3, 2018 (83 FR 356), Subject: 2018–2019 Award Year Deadline Dates for Campus-Based Programs, all schools that participate in the Federal Perkins Loan (Perkins Loan) Program must update and submit Part III, section A, Line 1.2 (Cash on hand and in depository as of 10/31/2018) on the Fiscal Operations Report for 2017–18 (FISAP) to the Department of Education (the Department) no later than 11:59 p.m.(EST) on Friday, December 14, 2018. Please review the October 26, 2018 electronic announcement for additional information.


FEDERAL REGISTERS – Due to limited space in FA Solutions’ Fed-Updates Newsletter, only the titles and links to Federal Register notices are provided here.

  • 2018-11-02 Subject: Amendment Notice: FSA’s Next Generation Financial Services Environment – Payment Vehicle Account Program Pilot
  • 2018-10-25 Subject: Annual Notice of Interest Rates for Variable-Rate Student Loans Made Under the Direct Loan Program
  • 2018-10-25 Subject: Annual Notice of Interest Rates for Variable-Rate Student Loans Made Under the Federal Family Education Loan Program Prior to July 1, 2010
  • 2018-10-25 Subject: Annual Notice of Interest Rates for Fixed-Rate Student Loans Made Under the Direct Loan Program

RESOURCES

2019–20 Federal School Code List of Participating Schools (November 2018): This resource is now available and contains the unique codes assigned by the Department of Education for schools participating in the Title IV federal student aid programs. Students enter these codes on the Free Application for Federal Student Aid (FAFSA) to indicate which postsecondary schools will receive the processed application results. Please review the November 1, 2018 electronic announcement for additional information – including how to access the list.

 

NSLDS Transfer Student Monitoring/Financial Aid History Batch File Layouts (October 2018): These batch file layouts will be available for use beginning December 23, 2018 and will replace the layouts posted on August 10, 2017. Please review the October 31, 2018, electronic announcement for additional information – including how to access the layouts.

 

Health Education Assistance Loan (HEAL): The HEAL information page on the IFAP website has been updated with the approved forms for use by HEAL Program lenders and lender servicers.

 

Availability of Service Release Update for Direct Loan (DL) Tools, Release 18.0: This resource is now available on the FSAdownload website. Please review the November 2, 2018, electronic announcement for additional information.

 

Availability of Service Release Update for EDExpress for Windows 2018-2019, Release 3.0:  This resource is now available on the FSA download website. Please review the November 2, 2018 electronic announcement for additional information.


FEDERAL REGISTERS – Due to limited space in FA Solutions’ Fed-Updates Newsletter, only the titles and links to FederalRegister notices are provided here.

  • 2018-11-02 Subject: Amendment Notice: FSA’s Next Generation Financial Services Environment – Payment Vehicle Account Program Pilot
  • 2018-10-25 Subject: Annual Notice of Interest Rates for Variable-Rate Student Loans Made Under the Direct Loan Program
  • 2018-10-25 Subject: Annual Notice of Interest Rates for Variable-Rate Student Loans Made Under the Federal Family Education Loan Program Prior to July 1, 2010
  • 2018-10-25 Subject: Annual Notice of Interest Rates for Fixed-Rate Student Loans Made Under the Direct Loan Program

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.

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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