McClintock Minute

Follow

Recent Articles

What to Expect from the New Gainful Employment Rule

What to Expect from the New Gainful Employment Rule

By Michael T. Wherry, CPA August 1, 2022

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…

Facing Audit Phobia, Part I: The Latest Trends

Facing Audit Phobia, Part I: The Latest Trends

By Parker Charlton July 12, 2022

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…

ED Releases New HEERF Quarterly Reporting Form

ED Releases New HEERF Quarterly Reporting Form

By Michael T. Wherry, CPA July 6, 2022

If your institution is still utilizing Higher Education Emergency Relief Fund (HEERF) grants, take note: the Department of Education (ED) just released a new Quarterly Reporting Form (QRF) that includes some substantial changes from previous versions. The new form is to be used beginning with Q2 2022 reports and is…

Employee Retention Tax Credit: Don’t Miss a Step

Employee Retention Tax Credit: Don’t Miss a Step

By June 20, 2022

By now, you have likely heard about the Employee Retention Tax Credit (ERTC) program, a government incentive for businesses to retain employees throughout the Covid 19 pandemic. It was created by the CARES Act and extended and altered by successive pieces of coronavirus relief legislation. The ERTC has provided massive…

The Updated 90/10 Rule: What’s New and What’s the Same

The Updated 90/10 Rule: What’s New and What’s the Same

By David B. McClintock, CPA May 4, 2022

In March 2021, the Department of Education (ED) reached consensus with non-federal negotiators on a crucial regulation for proprietary institutions: the 90/10 rule. Broadly, the 90/10 rule requires proprietary institutions to receive at least 10% of their revenue from nonfederal educational assistance sources every fiscal year. Because consensus was reached,…