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Colleges reminded about new rules for returning federal financial aid funds

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By Marlene Seeklander Financial aid professionals face some new requirements when it comes to returning federal funds for those students who don’t attend or withdraw. Some schools may have already implemented part of the new regulations, but in a March 27 Electronic Announcement, the Department of Education reminded schools that all changes to the R2T4 regulations […]

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Enforcement approach for audited financial statements clarified by the Department of Education

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By Marlene Seeklander In what may be a little break for financial aid professionals, the Department of Education recently outlined how it will enforce – or may not enforce for now – some of the requirements used to determine an institution’s financial responsibility. In a March 20 Electronic Announcement the Department provides clarification to regulatory changes

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Tips for tackling a Policies and Procedures manual

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By Marlene Seeklander Financial aid professionals have a goal of helping students get funding for college. But right along with that goal is the objective of doing so in compliance with laws and regulations. Ensuring compliance with federal financial aid regulations is essential and a Policies and Procedures (P&P) manual is one of the key documents

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FY 2023 Draft Cohort Default Rates available

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By Marlene Seeklander Schools can begin reviewing their FY 2023 draft cohort default rate information and prepare to submit any necessary appeals. The Department of Education announced the distribution of the FY 2023 draft cohort default rate (CDR) packages on March 23 to all eligible domestic and foreign schools. The information, sent to the SAIG mailbox

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Federal student loan borrowers on SAVE repayment plan must choose a new plan soon

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By Catherine Mueller Student loan borrowers on the now defunct federal SAVE plan now face a deadline for selecting a new repayment plan. If a borrower doesn’t act by the deadline later this year, they will be automatically switched to a new plan. In a March 27 announcement, the U.S. Department of Education (the Department) said

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Staying in compliance with an up-to-date Policies and Procedures manual

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By Marlene Seeklander Financial aid professionals recognize that an up-to-date and complete Policies and Procedures manual is the first step in complying with federal financial aid regulations. However, because of immediate responsibilities, financial aid professionals sometimes find maintaining a Policies and Procedures (P&P) manual overwhelming. And that overwhelming feeling can be intensified when starting a new

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2026-27 processing cycle learning tracks available from Federal Student Aid

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By Marlene Seeklander Financial aid professionals have additional training resources available as they work with 2026-27 FAFSA data. Federal Student Aid (FSA) recently released several Learning Tracks that will assist financial aid professionals as they receive and review 2026-27 FAFSA data. The new Learning Tracks include: To check out these learning opportunities, log into the FSA

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Tip of the Week – March 25, 2026

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Mapping Your Future hosts scholarship strategies webinar – recording now available Scholarships can sometimes mean the difference between having enough money for a college education or having to borrow student loans.   Knowing the strategies of how to make the most of scholarships can be a key component in finding money for college. The “Strategies

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Closeout deadline for 2024-25 Direct Loan Program year

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By Marlene Seeklander Schools that have not yet closed out their 2024-25 Direct Loan Program year need to make note of the upcoming closeout deadline. A March 18 Electronic Announcement reminds schools that Friday, July 31, 2026, is the closeout deadline and last processing day before the end of the program year. This means that all

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2026 FSA Training Conference session recordings now available

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By Marlene Seeklander Financial aid professionals and other industry partners who were unable to attend the recent FSA Training Conference can now view the session recordings. In a March 20 Electronic Announcement, Federal Student Aid (FSA) announced that the session recordings from the recent FSA Training Conference are now available at the following: In the announcement,

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