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Top Eight June 2024 Announcements for Higher Education Institutions
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Upcoming Title IV Requirements and Other Information
- FSA Electronic Announcement GENERAL-24-71, Resolving Conflicting Information – This announcement clarifies several instances when institutions are required to identify and resolve conflicting information and discrepant data that would affect a student’s eligibility for Title IV funds.
- AICPA Releases Guidance to Help With ED’s Related Party Disclosure Requirements – The AICPA has released a Technical Question and Answer (TQA) for auditors on how to handle ED’s financial responsibility related party disclosure requirements. ED’s October 2023 regulation, Financial Responsibility, Administrative Capability, Certification Procedures, Ability to Benefit, includes a requirement for nonprofit institutions to disclose in their financial statements all related-party transactions as defined in Financial Accounting Standards Board (FASB) Accounting Standards Codification 850, Related Party Disclosures.
- Court Blocks Maximum Program Length Rule for GE Programs – On June 21, 2024, a federal judge partially halted ED’s upcoming administrative capability rule scheduled to take effect on July 1, 2024, citing a provision that would specifically target career and technical programs. The court imposed a temporary injunction against a provision in the rule regarding maximum program length for gainful employment (GE) programs.
- FSA Electronic Announcement GENERAL-24-64, FSA Partner Connect – Automatic Assignment of Alternate E&O Roles for School Users to Occur June 3, 2024 – This announcement explains how the Alternate E&O Admin user role will be assigned in FSA Partner Connect.
- FSA Electronic Announcement CB-24-13, Operational Information – Reporting Calendar Year 2023 Federal Work-Study Earnings to the COD System Using the Campus-Based XML Schema Version 1.0b – This announcement discusses operational information to assist schools in reporting student-level earnings information for the Federal Work-Study (FWS) Program.
- FSA Electronic Announcement GENERAL-24-65, Title IV Institutional Survey — An independent vendor, CFI Group, is conducting FSA’s Title IV Institutional Survey and will email a link to the online survey to school financial aid administrators. The survey launched on June 5, 2024, and will close on July 17, 2024.
Free Application for Federal Student Aid (FAFSA) Simplification Announcements
- FSA Electronic Announcement GENERAL-24-67, Update on Department Reprocessing of 2024-25 FAFSA Records (Updated June 11, 2024) – This announcement provides an update on ED’s research and reprocessing of 2024-25 FAFSA forms as outlined in FSA Electronic Announcement GENERAL-24-60.
- FSA Electronic Announcement GENERAL-24-72, Details Related to the 2025-26 FAFSA Form Launch, Opportunities for Engagement, and Additional Activities for the 2024-25 Cycle – ED has provided additional details about the launch of the 2025-26 FAFSA form and opportunities for partners to submit feedback. The announcement also details the remaining core functionality planned for the 2024-25 cycle, including the ability to submit institutional corrections manually by the end of June and by batch upload by mid-August 2024. See this National Association of Student Financial Aid Administrators article for additional details.
Updated Guide and Webinars
- FSA Electronic Announcement ANN-24-12, Live Internet Webinar – 2024–25 FAFSA: Demo of FAFSA Partner Portal Corrections – A new webinar has been added for June 28, 2024. Log into the FSA Training Center for details.
- FSA Electronic Announcement ANN-24-11, Live Internet Webinars – Wednesday Webinar Series, Summer–Fall 2024 – The next set of webinars in this series, which runs from July to October 2024, has been added. Log into the FSA Training Center for details.
- FSA Electronic Announcement GENERAL-24-75, Volume 6: The Campus-Based Programs Now Available [2024-25 Federal Student Aid Handbook]
Please contact us if you have any questions or would like to discuss how these announcements apply to your institution.
