One of the final pieces of the FAFSA Simplification Act has arrived, and with it, changes to Pell Grant processes beginning in the 2024/25 academic year. As the new award year unfolds, it’s crucial that your financial aid office is prepared to implement new compliance processes and updated calculations. McClintock’s...
If we’re playing a word association game, then when a postsecondary education institution participating in Title IV aid programs hears the word “audit,” it’s likely to prompt a response of “confusion,” “anxiety” or even “fear.” It’s understandable, but frequently unfounded. In fact, a compliance audit can be a good thing for...
Update (10/19/21): The department of Education (ED) has issued additional guidance effective 10/6/21 for Institutions not using an R2T4 Freeze Date: If the student is only eligible for Pell Grant, Iraq-Afghanistan Service Grant, and/or TEACH Grant funds during the period and the institution does NOT use an R2T4 Freeze Date, the...
If you’ve been following along with the McClintock Minute, you know we’ve been breaking down the many notable changes and updates that the Department of Education (ED) made effective this summer to Financial Student Aid (FSA) regulations. As we start the fall, however, we know institutions, understandably, still have questions...