Update (9/8/21): M&A has confirmed with the Department of Education (ED) that institutions will not be held responsible for good faith interpretations of the new Return to Title IV (R2T4) regulations made prior to the release of the updated R2T4 guidance on August 20, 2021. R2T4 calculations based on reasonable…
From discussions with various clients, for-profit institutions are receiving the following email in regard to future audits of their Higher Education Emergency Relief Funding (HEERF) grants and these emails are causing confusion: To: Department of Education Grant Recipients From: Phillip Juengst, Deputy Assistant Secretary, Office of Acquisition and Grants Administration…
As part of the wide range of regulatory changes, the Department of Education (ED) recently altered the verification process for some Free Application for Federal Student Aid (FAFSA) information. As of July 13, ED waived the requirement to verify students selected under the V1 Verification Tracking Group and will continue…
In the fall of 2020, the Department of Education published a final rule altering various regulations issued under the Higher Education Act of 1965. Effective as of July 1, 2021, the series of changes included an amendment that modifies the Clock-to-Credit Conversion formula. This significant update will determine the number…
Managing Return to Title IV (R2T4) funding for students who withdraw from school just got more complex, as the Unites States Department of Education has now revised this process, effective July 1, 2021. What exactly does the updated guidance mean for institutions and for their students? The new regulations contain…
Administering the Federal Direct Loan program just got a little simpler, as the Department of Education (ED) recently announced that the 150% Direct Subsidized Loan limit, or “SULA” is being repealed. What exactly does this mean for postsecondary institutions and for their students? McClintock & Associates has reviewed the final…
Institutions that have yet to post reporting to their website regarding their first quarter utilization of the student portion of Higher Educations Emergency Relief Fund (HEERF) grants may need to do so immediately. In addition, there is an upcoming deadline for institutional reporting. The due date for the use of…
Among our most important values at McClintock & Associates is maintaining close working relationships with clients. We base these connections on trust, transparency and, of course, a deep understanding of the financial aid system that comes from personal experience. We’re rewarded in our work simply by discovering solutions to our…