Last week the U.S. Department of Education published a number of final regulations in the federal register which amended prior regulations related to Cash Management, Treatment of Repeat Coursework in Term Based programs and Clock-To-Credit Hour Conversion formula. These regulations go into effect on July 1, 2016.
Cash Management – Ensure that students have convenient access to their Title IV HEA program funds, do not incur unreasonable and uncommon financial account fees on their Title IV funds and are not led to believe they must open a particular financial account to receive their Federal Student Aid.
Repeat Coursework – Allow an institution offering term-based programs to count for enrollment status purposes, courses a student is retaking that the student has previously passed, up to one repetition per course, including when a student is retaking a previously passed course due to the student failing other coursework.
Clock-To-Credit-Hour Conversion – Removed the provisions under which a State or Federal approval or Licensure action could cause a program to be measured in clock hours.
You can read the full Federal Register here: http://bit.ly/1Uq1PDR
Over the last month, the department released a number of Electronic Announcements related to Gainful Employment. Lot’s to know and lot’s to do, so take a look at the links below to stay in the know.
And Remember – To comply with all of the Gainful Employment Regulations, schools must provide a “transitional certification” for existing programs to ED by December 31, 2015 unless the school received a successful recertification of its Program Participation Agreement between July 1, 2015 and December 31, 2015.
In the spirit of the Thanks-Giving season I want to Thank YOU, for your friendship and collegiality.
I wish you and your family much turkey (or Tofurkey) and a Happy Thanksgiving.
Make a Great Day!