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.
Birthday of Martin Luther King, Jr. Federal Holiday Processing and Customer Service Hours: Federal Student Aid’s offices and some of its title IV processors and contact centers will be closed on Monday, January 21, 2019 to observe the Birthday of Martin Luther King, Jr. federal holiday. Please review the January 11, 2019 electronic announcement for additional information.
Reminder – Deadline for 2019-20 Underuse Penalty Waiver for the Campus-Based Programs is February 4, 2019: The deadline to request a waiver of the 2019–20 Award Year penalty of Federal Work Study and Federal Supplemental Educational Opportunity Grant for the underuse of 2017–18 Award Year funds is February 4, 2019. This deadline was announced in the “2018–2019 Award Year Deadline Dates for Campus-Based Programs,” published in the Federal Register on January 3, 2018 (83 FR 356). Please review the January 7, 2019 electronic announcement for additional information.
Impact of Partial Government Shutdown on Federal Student Aid: Federal Student Aid (FSA) is not directly impacted by the current lapse in appropriations and the resulting partial government shutdown. However, some of FSA’s systems and processes depend on information from—and actions taken by—other federal agencies, several of which are currently closed. FSA is evaluating what impact these closures may have and are working to limit the impact on its partners. FSA will issue guidance to the community as soon as possible, as needed. Please review the January 3, 2019 electronic announcement for additional information.
Changes to 2018-2019 and 2019-2020 Verification Requirements: To reduce burden on students and families that have difficulty in obtaining documentation needed to verify their Free Application for Federal Student Aid/Institutional Student Information Record (FAFSA/ISIR) information, FSA is providing institutions with flexibilities that may be used as part of their verification procedures. These flexibilities were effective January 9, 2019 and apply to both the 2018-2019 and 2019-2020 FAFSA processing and verification cycles. Please review the January 9, 2019 electronic announcement for additional information. This announcement supersedes all guidance that limits the use of an income tax return as acceptable documentation to verify tax and income information for tax filers and supplements the guidance regarding the requirement to obtain verification of nonfiling.
CPS Processing Without Selective Service System Match During Partial Government Shutdown: Federal Student Aid issued an electronic announcement on January 9, 2019 to alert the financial aid community that daily processing at the Central Processing System (CPS) is bypassing the database match with the Selective Service System (SSS) during the partial federal government shutdown. Bypassing the SSS database match allows the CPS to continue Free Application for Federal Student Aid (FAFSA) processing with minimal impact to applicants. The CPS is otherwise processing normally. Please review the January 9, 2019 electronic announcement for additional information, including the comment code that FAFSA applicants will see if they are impacted by the match bypass.
Revised Perkins Assignment Form and Instructions Now Available: The Office of Management and Budget (OMB) recently approved a revised version of the Perkins Loan Assignment Form under OMB Control No. 1845-0048. The new expiration date is 12/31/2021. The new version replaces the previous version with an expiration date of 12/31/2018.The instructions for the form have also been updated. Schools and third-party servicers should begin utilizing the OMB-approved form immediately; however, the Department of Education will continue to accept assignment forms with the previous expiration date of 12/31/2018 through 06/30/2019. Please review the January 11, 2019 electronic announcement for additional information.
Newsletter 62 – Grants Page Enhancements and New Report for Enrollment Reporting: This newsletter describes recent enhancements for school users to the NSLDS Professional Access website. These enhancements include the addition of Iraq and Afghanistan Service Grant (IASG) information and a new Children of Fallen Heroes indicator, as well as a new report for Enrollment Reporting. Please review the January 7, 2019 electronic announcement for additional information.
NOTE: Due to limited space in FA Solutions’ Fed-Updates Newsletter, only the titles and links to the updates below are provided here.
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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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.