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Student Loan Crisis Deepens: 4 Million Borrowers Now Delinquent

Student Loan Crisis Deepens: 4 Million Borrowers Now Delinquent

By James Ference March 20, 2025

In a troubling development for America’s 43 million student loan borrowers, delinquency rates have doubled since the pandemic payment pause ended, leaving millions at risk for severe financial consequences. Here’s what you need to know about this growing crisis. The Shocking Numbers Behind the Student Loan Delinquency Surge According to a recent...

Breaking Down ED’s GEN-24-11 Announcement: Essential Insights for Financial Responsibility Compliance

Breaking Down ED’s GEN-24-11 Announcement: Essential Insights for Financial Responsibility Compliance

By Thomas R. Wilson, CPA January 31, 2025

The U.S. Department of Education’s (ED) recent Dear Colleague Letter (GEN-24-11) offers critical guidance on the treatment of long-term debt and property, plant, and equipment (PP&E) in calculating an institution’s composite score for financial responsibility under Title IV. This update replaces the 2020 Electronic Announcement (except LTD Q&A 10) and...

Single Audit vs. ED Program Review – What’s Different?

Single Audit vs. ED Program Review – What’s Different?

By Gregory Rinderle January 30, 2025

Nonprofit institutions that manage Federal Student Aid funds often focus solely on navigating the annual Single Audit. However, a more significant threat looms: the U.S. Department of Education’s (ED) Program Review. This in-depth examination delves into your institution’s administration of Title IV federal financial aid programs, uncovering compliance issues that...