Last week the New York Times reported that there are presently over 26,000 cases and at least 64 deaths on College and University campuses from COVID-19 since the start of the Fall Semester.
Sadly, COVID-19 continues its slow burn through our country and ED’s Office of Postsecondary Education released updated deadlines for previously announced flexibilities related to COVID-19.
Campus Based Matching Requirements – The institutional share (match) requirement associated with the Federal Work-Study (FWS) and Federal Supplemental Educational Opportunity Grant (FSEOG) programs for the 2019-2020 and 2020-2021 award years has been waived for public and private non-profit institutions.
Leave of Absence – Students on an approved title iv leave of absence may continue beyond the usual maximum 180-day timeframe and may now stay on a LOA until the end of the calendar year.
Return of Title IV Funds – Institutions are no longer required to return unearned Title IV funds for any student who withdrew last spring, summer or this fall because of COVID-19. ED caps the date of this flexibility at the later of December 31, 2020 or when the national emergency ends (if it ends later).
Academic Calendars – Prior guidance granting institutions flexibility to adjust their academic calendar have been extended to the end of the program’s academic year.
Reporting and Audit Requirements – Financial Statement and Compliance Audit Deadlines have been extended by six months from the date they would otherwise be due.