Synergy & Associates
A New Award Year (2021-2022) With New Rules & Regulations - Effective July 1, 2021
Today, July 1, 2021, marks the beginning of the 2021-2022 financial aid award year for postsecondary institutions participating in the Title IV Federal Student Aid (FSA) programs.
Additionally, there are several new regulations effective July 1, 2021 through the "Distance Education and Innovation" and "TEACH Grants & Faith-Based Entities" regulations. These new regulations affect institutional eligibility under the Higher Education Act of 1965, as amended (HEA), which were a part of the U.S. Department of Education's ("ED") negotiated rulemaking process in 2018-2019.
As a reminder, ED recently issued guidance on the FAFSA Simplification Act's removal of Selective Service and Drug Conviction requirements for students' Title IV eligibility, as well as repealing the 150% Subsidized Usage Limit Applies (SULA) requirements (for loans first disbursed on or after July 1, 2021).
If you have any questions, we're here to help. Call us today at 1-816-286-4995 or via email at support@synergy-associatesLLC.com.
#compliance #highered #titleiv #financialaid #reporting #riskmanagement #regulations #audit #procedures
Disclaimer: This Blog/Web Site is made available by Synergy & Associates, LLC for educational purposes only as well as to give you general information and a general understanding of the law, not to provide specific legal advice. By using this blog site you understand that there is no attorney-client relationship between you and the Blog/Web Site publisher. The Blog/Web Site should not be used as a substitute for professional consultation and/or competent legal advice from a licensed professional attorney in your state.