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…
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,…
It’s been a good time for student loan borrowers lately. Not only did the Biden administration just announce a partial loan forgiveness policy, but the Department of Education’s (ED) Fresh Start initiative is giving some borrowers who defaulted on their federal loans before or after the pandemic payment pause another…
The U.S. Department of Education (ED) has sought to establish a definition of Gainful Employment (GE) for over a decade, and in more recent years, we’ve seen regulatory whiplash as priorities and opinions change. An initial attempt to establish a rule by the Obama administration was thrown out in a…
The Tax Cuts and Jobs Act of 2017 (TCJA) has been effective for more than four years now, but it is still making new impacts to the corporate tax environment. One provision that businesses must navigate and implement — for now, at least — is the capitalization and amortization of…
The last thing an institution wants to hear while undergoing an audit is, “We’ve identified some processes that aren’t compliant with Title IV rules.” In a perfect world, a compliance audit comes and goes swiftly and without any findings. But in the real world, one where regulations change regularly and…
Chances are you haven’t seen your auditor around the office for quite a while — and some people might be just fine with that. After all, audits normally don’t rank highly on a financial aid professional’s list of favorite annual activities. However, the past two-plus years of pandemic gave rise…
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…