This year’s changes to the federal child tax credit (CTC) are significant and a seeming advantage for parents, but upon a closer look, they may not be a benefit for all taxpayers. Historically, qualified taxpayers received their child tax credit when they filed their income taxes. But beginning July 15, 2021,...
Administering the Federal Direct Loan program just got a little simpler, as the Department of Education (ED) recently announced that the 150% Direct Subsidized Loan limit, or “SULA” is being repealed. What exactly does this mean for postsecondary institutions and for their students? McClintock & Associates has reviewed the final...
Institutions that have yet to post reporting to their website regarding their first quarter utilization of the student portion of Higher Educations Emergency Relief Fund (HEERF) grants may need to do so immediately. In addition, there is an upcoming deadline for institutional reporting. The due date for the use of student...
Among our most important values at McClintock & Associates is maintaining close working relationships with clients. We base these connections on trust, transparency and, of course, a deep understanding of the financial aid system that comes from personal experience. We’re rewarded in our work simply by discovering solutions to our clients’...
This article was published in the May 2021 issue of Career Education Review and reproduced here with permission. Article originally posted at careereducationreview.net. As we frequently say in our office, “Don’t ask questions that you don’t want the answer to” — and the issuance of the Guide for Compliance Attestation Engagements...
Businesses and institutions that were able to retain employees throughout the difficult months of 2020 may be eligible for a beneficial tax credit created by the CARES Act and extended by further coronavirus relief legislation. But employers should pay special attention to recent IRS guidance that provides some key details...
On March 19, 2021, the U.S. Department of Education (ED) released long awaited guidance on the uses of the Higher Education Emergency Relief Funding (HEERF) grants included in the various coronavirus relief legislation passed over the previous year: the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which created the...
Along with wide-ranging overhauls and easy-to-implement changes to regulations surrounding Title IV programs, the Department of Education (ED) annually makes more subtle changes or additions that can pass under the radar. Big or small, any alteration to the Federal Student Aid Handbook matters. To that end, recently while we were identifying...