Nonprofit Resources

Here is a summary of the top five September 2024 announcements that apply to higher education institutions, plus information on an upcoming webinar.

ED Further Delays GE and FVT Reporting Deadline – As noted in this National Association of Student Financial Aid Administrators article, the U.S. Department of Education (ED) has announced an additional three-and-a-half month extension for its gainful employment (GE) and financial value transparency (FVT) regulation reporting requirement. The reporting deadline has been extended from October 1, 2024, to January 15, 2025.
FSA Electronic Announcement General -24-112, Documentation Requirements for Mandatory and Discretionary Trigger Reporting Under Financial Responsibility – This announcement details the suggested documentation that institutions may provide to fulfill the new requirements for reporting mandatory and discretionary triggers under the amended financial responsibility regulations that went into effect on July 1, 2024. ED may request that institutions provide additional information about financial responsibility triggers.
FSA Electronic Announcement LOANS-24-08, FY 2021 Official Cohort Default Rates Distributed Sept. 23, 2024 – In this announcement, ED provides information about the distribution of the official rates, along with the begin dates and other reminders about the cohort default rate appeal process.

FSA Electronic Announcement GENERAL-24-108, 2024-25 FAFSA Verification-Internal Revenue Service (IRS) Tax Return Transcript Matrix – This announcement includes a link to the 2024-25 FAFSA Verification-IRS Tax Return Transcript Matrix. Institutions can use the matrix for 2024-25 verification of tax return information entered by the applicant on the FAFSA application.
September 18, 2024, Notice from ED – This Federal Register publication provides the 2024-2025 award year deadline dates for reports and other records associated with the FAFSA, the Federal Supplemental Educational Opportunity Grant (FSEOG) Program, the Federal Work-Study (FWS) Program, the Federal Pell Grant Program, the William D. Ford Federal Direct Loan Program, and the Teacher Education Assistance for College and Higher Education (TEACH) Grant Program. See Tables A and B at the end of the publication for a summary of key dates.

FSA Electronic Announcement ANN-24-11, Live Internet Webinars – Wednesday Webinar Series, Summer–Fall 2024 (Updated Sept. 5, 2024) – The Federal Student Aid Wednesday Webinar Series includes a webinar on “Finding Answers Using FSA Resources” on October 30, 2024. Starting on October 29, a handout will be available for download in the “Upcoming Webinars” section of the FSA Training Center.

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