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Top Five February 2024 Announcements for Higher Education Institutions

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Here is a summary of the top five February 2024 U.S. Department of Education (ED) announcements that apply to higher education institutions, along with key reporting deadlines and webinar information:

  1. FSA Electronic Announcement GENERAL-24-11, 2024-25 Award Year Flexibilities and Department Letters to Presidents ED is emailing the leadership at all Title-IV participating higher education institutions a letter highlighting the support and services available under the FAFSA College Support Strategy.
  2. FSA Electronic Announcement GENERAL-24-13, Additional 2024–25 FAFSA Partner Preparation Support ED will continue its partner preparation efforts related to the 2024–25 Free Application for Federal Student Aid (FAFSA) launch and upcoming transmission of Institutional Student Information Records (ISIRs). This announcement summarizes the types of additional support ED will provide.
  3. FSA Electronic Announcement DL-24-01, Direct Loan Closeout Information for 2022–23 Program Year The Direct Loan closeout deadline for the 2022–23 Program Year is July 31, 2024. As a reminder, all cash management, disbursement reporting, and monthly reconciliation regulatory requirements supersede this closeout deadline. It is the institution’s responsibility to ensure that it finishes processing and confirms closeout on time.
  4. FSA Electronic Announcement General-24-06, 2024-25 FAFSA Student Aid Index Update and Timeline (Updated Feb. 27, 2024) – ED has announced that to account for inflationary adjustments as required under the law, it has updated the supporting tables used in the Student Aid Index (SAI) calculation to ensure that students are benefitting from approximately $1.8 billion in additional aid. ED also noted that it anticipates that the 2024-25 FAFSA processing timeline will change as listed in this announcement.
  5. FSA Electronic Announcement GENERAL-23-100, Update on the Simplified, Streamlined, Redesigned 2024-25 FAFSA (Updated Jan. 30, 2024) – Whenever ED publishes a status update on the redesigned Free Application for Federal Student Aid (FAFSA) form, it will add a link to the update in this announcement. We recommend bookmarking this page. To date, there have been updates as of November 15 and 27, 2023; December 8, 15, and 22, 2023; and January 2 and 30, 2024. This announcement also includes a link to the 2024–25 FAFSA Updates page, which has a link to the FAFSA Simplification Information page.

Key Reporting Deadline and Webinars:

  1. Financial Value Transparency and Gainful Employment: Reporting Your Institutional and Student Data While this March 1 webinar has reached capacity and registration is closed, a recording will be available after the event.
  2. FSA Electronic Announcement ANN-24-01, Live Internet Webinars – Better FAFSA Better Future Webinar Series – A new webinar has been added for April 18, 2024.
  3. FSA Electronic Announcement CB-24-05, Application for Participation in the Work Colleges Program – Returning institutions that are currently participating in the 2023–24 award year for the Work Colleges Program must apply for the 2024–25 award year by March 4, 2024.

Please contact us if you have questions or would like to discuss how these announcements apply to your institution.

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