The U.S. Department of Education (ED) published the change in ownership (CIO) rule in the fourth quarter of 2022. The rule goes into effect July 1, 2023, and impacts every step of this process. It includes new notifications that are required before any CIO, an updated approval process, and requirements…
The U.S. Department of Education (ED) published the 90/10 rule near the end of 2022 that includes significant changes beyond just redefining what funds should be included in both sides of that equation. This makes it crucial that institutions understand the nuanced changes, update their processes to calculate 90/10, and…
As a parent, sending a child to school seems so far off when they are born. However, eventually the day comes, whether they (or you) are ready or not. Most parents spent multiple years preparing their child for school to make the transition a great experience for everyone: themselves, teachers,…
During 2020, the Higher Education Emergency Relief Fund (HEERF), included as part of the wide-ranging CARES Act, provided a lifeline to institutions of higher education and their students. As the policy and requirements for both the student and institutional grants evolved over the year, schools were required to post regular…
On December 27, 2020, the Consolidated Appropriation Act, 2021 (Act) was signed into law which includes relief funds for the COVID-19 pandemic. This Act is hopefully going to provide continued relief to individuals and our economy. The Act’s relief provisions included $81.88 billion for the Education Stabilization Fund and $23…
The Gramm-Leach-Bliley Act (Act or GLBA) requires schools that participate in Title IV to comply with the standards for safeguarding student information as set forth in 16 CFR Part 314. Student information is defined as any record containing nonpublic personal information whether in paper, electronic, or other form that is…
By: Michael T. Wherry, CPA After committing two years ago to making significant changes to the borrower defense to repayment regulations, the Department of Education (ED) released finalized office rules on Sept. 20
The recent rescission of the Gainful Employment (GE) regulations is akin to watching a Stanley Cup hockey game going into overtime. With every shot, you are riding a wave of exultation or fear as the outcome of the game could occur at a moment’s notice. Similarly, regulatory whiplash occurred over…