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…
McClintock Minute
Articles by David B. McClintock, CPA
In March 2022, 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,…
The latest negotiated rulemaking session featuring the Department of Education’s (ED) Institutional and Programmatic Eligibility Committee concluded March 18 — and I appreciated the chance to be a part of it. As a committee advisor representing compliance auditors who work with institutions that participate in Title IV, I was able…
Ready for 2022? Mark Up Your Calendars with These Dates to Know
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…
HEERF Annual Reporting Primer
During 2020, the Higher Education Emergency Relief Fund (HEERF), included as part of the wide-ranging CARES Act, provided a lifeline to institutions of higher education and their students. As the policy and requirements for both the student and institutional grants evolved over the year, schools were required to post regular…
Five 2021 New Year’s Resolutions for CFOs in Higher Ed
If you had any personal New Year’s resolutions a year ago, it’s possible you tossed them out the window not all that long into a 2020 that veered wildly off-course. We can’t blame you for it, but from an institutional standpoint, it’s important to stay on track during a challenging…
A Primer on Institutional HEERF Grant Reporting
No tricks, a major deadline looms for postsecondary educational institutions just before Halloween. The first round of quarterly reporting for the institutional portion of the Higher Education Emergency Relief (HEERF) Grant is due October 30, meaning institutions cannot delay in preparing and posting their reports. Check out this rundown concerning…
The 13 Major Provisions of Title IX’s Final Rule
After years of debate, the U.S. Department of Education’s (ED) new Title IX regulations took effect in August. ED’s final rule details the responsibilities of schools that receive federal funds in responding to allegations of sexual assault and harassment. Along with Title IX coordinators, all leaders at postsecondary education institutions…