In October 2023, the Department announced an amendment to § 668.23(a) to require that audit reports are timely submitted, by the earlier of 30 days after the completion of the report or six months after the end of the institution’s fiscal year. Furthermore, when the regulations go into effect on July...
While exhibiting at NASFAA’s 2024 Leadership & Legislative Conference & Expo, Parker Charlton, FAAC® and I had the opportunity to attend sessions featuring both the Secretary of Education, Miguel Cardona, and a panel of Department of Education (ED) officials. They acknowledged the challenges posed by the 2024-2025 FAFSA and subsequent...
Looking back, 2023 was a dynamic year marked by growth and new challenges facing institutions. With the national emergency coming to an end, FAFSA simplification rolling out, and an updated audit guide, institutions have a unique opportunity to make 2024 a season of growth and a refresher on best practices. Out...
The 2023 updates to the Gramm-Leach-Bliley Act introduce several new requirements for schools when it comes to protecting student financial records from cyber threats. Here are key recommendations for safeguarding your data, which fall under three overarching strategies. When implemented properly, these can help higher education institutions address systemic cybersecurity...
On June 9, 2023, the Federal Trade Commission (FTC) rolled out significant updates to the Gramm-Leach-Bliley Act (GLBA) Safeguards Rule, requiring financial institutions and organizations to take immediate action to ensure compliance. Since this summer update, the team at McClintock has been working with institutions to review compliance risks and recommend...