Letter from Undersecretary Ted Mitchell to Institutional Presidents

Undersecretary Ted Mitchell sent a letter to Institutional Presidents and chief executive officers of all Title IV participating institutions on April 12, 2016. The letter reminds institutions of their fiduciary duty to taxpayers to ensure that disbursed student aid is appropriately safeguarded and administered compliantly; citing some of the recent statutory and regulatory requirements that have increased administrative responsibilities on institutions:

  • Pell Lifetime Eligibility Limits
  • Subsidized Usage Limits on Direct Loans
  • Increased Enrollment Reporting Requirements
  • Gainful Employment Reporting Requirements
  • Campus Safety & Security and Violence Against Women Act
  • Implementation of new Cash Management Regulations

The letter also heralds the implementation of the “Early FAFSA” beginning in October 2016 and the use of the “Prior-Prior-Year” income tax information to be used in completing the FAFSA.

It’s a nice summary. http://1.usa.gov/1SR7yQC

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