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Recent M&A Articles Articles

Explaining 2024-2025 Pell Grant Changes

Explaining 2024-2025 Pell Grant Changes

By Parker Charlton, FAAC® August 27, 2024

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...

Understanding Your Composite Score: 3 Key Drivers

Understanding Your Composite Score: 3 Key Drivers

By David B. McClintock, CPA August 22, 2024

The U.S. Department of Education (ED) has been calculating an institution’s Composite Score as part of its annual assessment of Financial Responsibility. However, new Financial Triggers can cause ED to require a school to recalculate its Composite Score making it more important than ever to really understand how it is...

Understanding Gainful Employment Reporting Requirements

Understanding Gainful Employment Reporting Requirements

By Luke Hoey, FAAC® July 19, 2024

Understanding Gainful Employment Reporting Requirements: An Overview Gainful Employment (GE) reporting requirements have been a focal point of compliance challenges for postsecondary institutions since their introduction by the Department of Education (ED) in 2010. This is especially the case for those offering vocational and career-oriented programs. This article will delve into...

Resolution Required? Exploring Hidden Comment Codes

Resolution Required? Exploring Hidden Comment Codes

By Anthony Cravotta June 20, 2024

Navigating the financial aid process can be overwhelming, especially when it comes to decoding the myriad of ISIR (Institutional Student Information Record) Comment Codes that accompany the Free Application for Federal Student Aid (FAFSA). These codes, which are essential for processing financial aid, often contain critical information that requires further...

Why is ED Requiring Fiscal Year to Match Tax Year?

Why is ED Requiring Fiscal Year to Match Tax Year?

By David B. McClintock, CPA May 29, 2024

The U.S. Department of Education’s (ED) Dear Colleague Letter issued May 16, 2024 (Implementation of Regulations Related to Financial Responsibility, Administrative Capability, Certification Procedures, and Ability to Benefit (ATB) | Knowledge Center), reinforces the proposed requirement by ED to align postsecondary institutions’ fiscal year end (FYE) with the institution’s tax...