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Top Seven Nov./Dec. 2024 Announcements for Higher Education Institutions
Here is a summary of the top seven November/December 2024 U.S. Department of Education (ED) announcements and updates that apply to higher education institutions:
Upcoming Title IV Requirements
- FSA Electronic Announcement CB-24-22, FISAP Edit Corrections Due Dec. 13, 2024 – As published in a January 23, 2024, Federal Register notice, any changes, corrections, or edits to the Fiscal Operations Report for 2023–24 and the Application to Participate (FISAP) for 2025–26 must be submitted to ED no later than 11:59 p.m. EST on Friday, December 13, 2024.In addition, as noted in FSA Electronic Announcement CB-24-21, all institutions that participate in the Federal Perkins Loan Program, including institutions that are in the liquidation process and have not yet received an official liquidation completion letter from ED, must update and submit Part III, section A, Line 1.2 (“Cash on hand and in depository as of 10/31/2024”) on the Fiscal Operations Report for 2023–24 and the Application to Participate for 2025–26 to ED no later than 11:59 p.m. EST on Friday, December 13, 2024.
- FSA Electronic Announcement GENERAL-24-137, 2024-25 FSA Assessments Now Available – The 2024-2025 FSA Assessments give institutions a system for evaluating program compliance and opportunities to correct problems.
- FSA Electronic Announcement GENERAL-24-136, Change in Ownership Documentation, Reporting, and Requirements – This announcement provides important reminders about the change in ownership (CIO) process. This includes documentation and reporting requirements for eligible institutions as well as specific documentation requirements for Temporary Provisional Program Participation Agreements (TPPPAs) and continuation of the TPPPA on a month-to-month basis.
- FSA Electronic Announcement GENERAL-24-133, Title IV Aid Disbursement Reporting, Excess Cash, and Reconciliation Requirements – This reminder about the general disbursement reporting, excess cash, and reconciliation requirements for all Title IV programs is helpful for both Financial Aid and Business offices.
- FSA Electronic Announcement GE-24-10, Reminder of Institutional Requirements for Financial Value Transparency & Gainful Employment that Must Be Completed by January 15, 2025 – This announcement reminds institutions about two important requirements related to the Financial Value Transparency/Gainful Employment (FVT/GE) regulations: evaluation of completers lists and submission of required reporting data via the National Student Loan Data System (NSLDS).
Free Application for Federal Student Aid (FAFSA) Simplification Announcements
- FSA Electronic Announcement GENERAL-24-135, The 2025–26 FAFSA Form is Available – ED has officially released the 2025–26 Free Application for Federal Student Aid.
- Kvaal: ‘Today We’re In a Much Better Place’ After Challenges with 2024-25 FAFSA – Education Under Secretary James Kvaal provided his conclusions on the release of the 2024-2025 FAFSA, as outlined in this article from the National Association of Student Financial Aid Administrators.
Please contact us if you have questions or would like to discuss how these announcements apply to your institution.
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