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Recent Title IV Compliance Articles

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...

Audit Guide Updates

Audit Guide Updates

By Stephanie Roland, MBA January 19, 2024

Looking back, 2023 was a dynamic year marked by growth and new challenges facing institutions. With the national emergency coming to an end, FAFSA simplification rolling out, and an updated audit guide, institutions have a unique opportunity to make 2024 a season of growth and a refresher on best practices. Out...

GLBA Safeguards: Protecting Your School Against Cyber Threats

GLBA Safeguards: Protecting Your School Against Cyber Threats

By James Ference November 15, 2023

The 2023 updates to the Gramm-Leach-Bliley Act introduce several new requirements for schools when it comes to protecting student financial records from cyber threats. Here are key recommendations for safeguarding your data, which fall under three overarching strategies. When implemented properly, these can help higher education institutions address systemic cybersecurity...