We’re getting deep into tax preparation season, and during a year that the Internal Revenue Service expects to be busier than most, institutions and students are encouraged to organize and submit documentation as promptly as possible. Among the most important items for institutions to prepare is Form 1098-T, Tuition Statement….
The chief responsibility of the Department of Education’s (ED) Office of the Inspector General (OIG) is to detect waste, fraud and abuse — intentional or not — within ED and the institutions under its purview. Its recently released 2022 Annual Plan provides a roadmap and points of emphasis regarding that…
Got a fresh 2022 daily planner? As nice as it is to see the blank pages, it’s time to start filling them. With the new year comes a new set of financial reporting due dates and notable milestones to mark. Each month brings different challenges, and we know how difficult…
Update (10/19/21): The department of Education (ED) has issued additional guidance effective 10/6/21 for Institutions not using an R2T4 Freeze Date: If the student is only eligible for Pell Grant, Iraq-Afghanistan Service Grant, and/or TEACH Grant funds during the period and the institution does NOT use an R2T4 Freeze Date,…
Institutions have one last chance to comment on the Department of Education’s (ED) proposed changes to the annual reporting form for Higher Education Emergency Relief Fund (HEERF) grants. ED released its response to the first round of public comments earlier this month, adopting some changes after commenters’ input and declining…
If you’ve been following along with the McClintock Minute, you know we’ve been breaking down the many notable changes and updates that the Department of Education (ED) made effective this summer to Financial Student Aid (FSA) regulations. As we start the fall, however, we know institutions, understandably, still have questions…
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…