By John W. Mioduszewski On December 23, 2011, Congress enacted the Consolidated Appropriations Act. This legislation reduced the limit of a student’s Federal Pell Grant Lifetime Eligibility to 12 semesters (or equivalent), and went into effect at the start of the 2012-2013 Federal Award Year. Traditionally, an Academic Year is based...
McClintock Minute
Recent Title IV Compliance Articles
Updates to the 2014-2015 FSA Handbook
December 20, 2016
By Heather Ostrowski The Federal Student Aid Handbook was recently issued for the 2014-2015 award year. As with every new edition of the Handbook, the Department of Education (ED) has outlined all of the updates that financial aid professionals should be aware of for the current award year. Here are some of...
Does Your Annual Security Report Meet the DOE Requirements?
December 20, 2016
By Sandy Santangelo If your Institution receives Title IV funds, you are required to publish and distribute, by October 1 of each year, a comprehensive Annual Security Report (“ASR”) that contains, at a minimum, all of the statistical and policy elements enumerated in 34 C.F.R. 668.46(b). The ASR must be distributed...
Selected for Verification
December 20, 2016
By Luke B. Hoey How can a school make the verification process easier for itself and its students? I am going to outline a few options for you. Now, these are just ideas; each school is different, so it makes sense that their processes would not be identical. In the same...
By Sandy Santangelo The Violence Against Women Reauthorization Act, Public Law 113-4 (VAWA) was signed into law on March 7, 2013. Section 304 of the VAWA, known as the Campus Sexual Violence Act, changes existing requirements and imposes new obligations on institutions that will require additional Clery Act crime reporting obligations,...
Changes to Clock-to-Credit Requirements
December 20, 2016
By Adam Steinfurth, CPA With the release of its Final Rule: Program Integrity and Improvement dated October 30, 2015, the Department of Education repealed §§ 668.8(k)(2) and (k)(3) and made a conforming change in § 668.8(l). These changes affect academic programs which are required to measure a student’s progress in clock...
Reimbursement & Heightened Cash Monitoring Payment Methods
December 8, 2016
By Luke Hoey Schools that have been placed on the reimbursement payment method or one of the heightened cash monitoring (HCM) payment methods should be mindful of a few recently amended regulations pertaining to cash management – which are set to take effect on July 1, 2016. The first and most...