Federal Training Officer David Bartnicki recently shared updates on a variety of topics. To ease your reading process, we have split his update into two blog posts. You can see part one here.
The October 2, 2015 Electronic Announcement provided the long-awaited guidance allowing schools to accept alternative documentation for tax filers who (after the requisite processing time) have been unable to obtain a tax transcript. Please note that this verification documentation exception is for 2015-2016.
The alternative documentation includes the following:
- A signed copy of the relevant (i.e., applicant, spouse, or parent) 2014 IRS tax return that was filed with the IRS.
- A statement from the tax filer, on or attached to the tax return, which certifies that the tax return submitted to the institution includes the same information that was submitted to the IRS (NEW)
- Documentation from the IRS that the transcript request was unsuccessful.
- For tax filers who requested a transcript using the IRS online transcript request process, a signed and dated copy of the screen shot from the official IRS Web page that displays a message indicating that the transcript request was unsuccessful.
- For tax filers who requested a transcript using IRS Form 4506T-EZ or Form 4506-T, a copy of the IRS response that was mailed to the tax filer stating that the IRS could not provide the transcript. The copy of the IRS response must be signed and dated by the tax filer.
- A completed and signed IRS Form 4506T-EZ or Form 4506-T that includes on line 5 the name, address, and telephone number of the institution as the third party to whom the IRS is to mail the 2014 IRS transcript. (to be used by the school ONLY if the school questions the accuracy of the information on the signed copy of the paper tax return).
For more information, please see the 10/2/15 EA – http://ifap.ed.gov/eannouncements/100215AcceptableDocUpdateFor1516AwardYrVerification.html.
On November 12, 2015 we posted an electronic announcement indicating that in response to concerns that some institutions have been using the list of colleges that a student includes on their FAFSA for purposes unrelated to the awarding of student financial assistance, beginning with the 2016-2017 FAFSA, the Department will only provide the Federal School code and corresponding housing code for the institution receiving the student’s ISIR.
Information about all of the colleges listed by the student will continue to be included on ISIRs provided to state grant agencies, as well as on the Student Aid Report (SAR) provided to the student. Institutions may not require students to submit SARs to the institution.
Unfortunately, some of my schools received emails and phone calls from the Department indicating that they had not reported any GE data or certain GE program data was missing over the last few months. In response to our inquiries, schools were asking me at what point would the schools be considered GE compliant. I am happy to say that on October 8, 2015, ED posted and electronic announcement summarizing how a school could determine when they have met ED’s GE reporting requirements.
The 10/8/15 EA indicated the following:
An institution has met its reporting requirement for a GE program that is included on the Department’s NSLDS GE Program Tracker List for a year –
- If the word ‘Yes’ is in the ‘Source GE’ column for the program. A ‘Yes’ indicates that the institution has reported students for that program for that year;
- If any value other than ‘A1’ is in the ‘Status Reason’ column for the program for that year. A value other than ‘A1’ means that the institution annotated the tracker to indicate that the program does not need GE reporting for that year. [See GE Electronic Announcement #53 for information on which of an institution’s academic programs are GE programs and therefore must be reported on.]
If neither of the above conditions is met, the institution must either report for the program/year or make a substantiated and documented annotation to the ‘Status Reason’ value in the NSLDS GE Program Tracker List for the program/year.
We also reminded schools that they must report or annotate every program included on the school’s NSLDS GE Program Tracker List for each award year (2008-2009 through 2013-2014), even if the program was not offered for a year or if there were no Title IV aid recipients enrolled in the program for a year. In addition, it is important that schools ensure that all students who received Title IV aid for a program have been reported. Schools must report all students who received Title IV aid to attend the GE program for that year or for any of the reporting award years.
Also, as a reminder, we recently posted the Updated GE Disclosure Template. Schools must, no later than January 31, 2016, update disclosures for each of their GE programs to reflect information from the 2014-2015 award year using this updated Disclosure Template to meet their disclosure requirements under 34 CFR 668.6(b). The updated template can be found at http://www2.ed.gov/policy/highered/reg/hearulemaking/2009/negreg-summerfall.html. If you have questions about the template please contact our help desk toll-free at 855.359.3697 or firstname.lastname@example.org. Please see the October 23, 2015 Electronic Announcement for more information.
Finally, one of the most common areas I get questions about is gainful employment and I just want to remind everyone that there is a GE website on the right-hand side of IFAP dedicated to all things GE – http://ifap.ed.gov/GainfulEmploymentInfo/indexV2.html. It contains updated EAs, DCLs, federal registers, training materials, GE Operations Manual, etc. It also contains an extensive Q&A section that is periodically updated with new Q&A’s (a lot of them our questions that you asked GE-Questions@ed.gov). Recent new additions include:
- 11/17/15 GE EA #69 (updated NSLDS GE User Guide)
- 11/10/15 GE EA #68 (new chapters in GE Operations Manual)
- 10/23/15 GE EA #66 (programmatic accreditation and program eligibility regarding GE certification Q&A’s)
Data Challenges and Appeals Solution (DCAS) system
Also related to GE is the new DCAS system. This new system will allow schools to submit challenges to data elements from the Draft GE Completers List. Future releases of DCAS related to GE will include functionality for challenging the information used to calculate the debt-to-earnings (D/E) rates.
In addition, we will expand DCAS functionality in phases to include all appeals, requests for adjustments and challenges related to institutional cohort default rates (CDRs), and other student-level data initiatives. After we fully implement all phases of DCAS, we will retire the eCDR Appeals system.
In preparation for the launch of the new system later this year, we encourage all authorized users that will be working with DCAS to enroll in the DCAS Online Service. Authorized users can enroll in DCAS by a school’s (or organization’s) Primary Destination Point Administrator (Primary DPA) via the Student Aid Internet Gateway (SAIG) Enrollment Website. In the attachment to the 10/26/15 Electronic Announcement we provided detailed instructions for the Primary DPA to complete the process.
For more information about the new DCAS system please review the 10/22/15 and 10/26/15 Electronic Announcements.
A few schools have called me concerned about an electronic survey they received on behalf of FSA and were wondering if it was legitimate. On November 12, 2015, FSA launched a school partner survey that is being conducted by an independent vendor, CFI Group, via the web. The survey is an effort on ED’s part to ensure that Federal Student Aid and the Department of Education provide the best services possible to our school partners. The notification emails will be sent from “Federal Student Aid, through CFI Group [email@example.com].” The web survey has been designed to take approximately five minutes to complete and will be conducted in a manner that ensures strict confidentiality of all responses.
If you receive the survey, we hope you will help us help you by taking the time to provide meaningful feedback that, in the end, will help all of us administer the Federal Student Aid programs as effectively and efficiently as possible. For more information about the FSA survey, please see the November 10, 2015 Electronic Announcement.
For those working with NSLDS enrollment, I am pleased to announce we posted a new updated NSLDS Enrollment Reporting Guide on IFAP (October 2015). The new enrollment guide includes clarification on how to report enrollment data and how to add students to rosters, as well as information regarding the new Enrollment Statistics page and the new Enrollment Statistics report. The new guide can be found at http://ifap.ed.gov/ifap/byNSLDSType.jsp?type=NSLDS%20User%20Documentation or under the “Processing Resources” Box on IFAP.
If your office does not directly work with NSLDS Enrollment Reporting, please make sure your school offices that do work with enrollment reporting (Registrar, etc.) are made aware of and working with our latest guide.
Career Pathway Programs
For those schools considering developing eligible career pathway programs for ability-to-benefit (ATB) students or who are already offering eligible career pathway programs, I strongly encourage you to review the series of Q&A’s ED recently posted to IFAP in the 10/22/15 Electronic Announcement. The announcement includes 12 Q&A’s that discuss various key areas associated with offering eligible career pathway programs. The questions focus on definitions, documentation, program requirements, program approval, coursework, TIV eligibility and ATB criteria. One question provided addresses a common issue that many schools have been asking me about in reference to the new career pathway program process:
Question 9: Is each ATB student required to take coursework from both the adult education component and from the Title IV eligible post-secondary program component in each payment period in order to receive Title IV aid?
Answer 9: For a student to be eligible for Title IV aid after successfully completing one of the ATB alternatives, the student must be concurrently enrolled in both the adult education and the Title IV eligible post-secondary components of the eligible career pathway program and that enrollment must be documented by the institution (see Answers 2 and 8).
However, that does not preclude a student from occasionally being enrolled in just one component of the eligible career pathway program for any particular payment period as long as the institution has evidence that the student has taken coursework in both components throughout the student’s enrollment in the eligible career pathway program.
For example, consider a student who took classes in both the adult education component and the Title IV eligible post-secondary program component for the first and second payment periods (e.g., Fall and Spring semesters) of the student’s enrollment in the career pathway program, but only classes in the Title IV eligible post-secondary program component for the summer (the third payment period) because no adult education program was offered in the summer term. This student would be eligible to receive Title IV aid for all three payment periods for enrollment in the Title IV eligible postsecondary program component.
Note that as discussed in Dear Colleague Letter GEN-15-09, a student is only eligible for Title IV aid for coursework that is part of the Title IV eligible post-secondary program component. Therefore, a student solely enrolled in adult education coursework during a payment period would not be Title IV eligible for that payment period.
As noted in Dear Colleague Letter GEN-15-09, all Title IV awards are calculated using only the costs and enrollment status related to the post-secondary coursework.
For more information and a detailed discussion regarding all of the Q&A’s, please see the October 22, 2015 Electronic Announcement – http://ifap.ed.gov/eannouncements/102215EligibleCareerPathwayProgQandA.html.
150% Subsidized Direct Loan Limitations
On October 19, 2015, ED published an electronic announcement providing additional guidance on how a school determines whether a student is eligible for a Direct Subsidized Loan when the student’s Remaining Eligibility Period is less than one year, and, if the student is eligible, for what period and in what amount. This has been a common area of confusion and concern and we hope the EA helps schools and students in these situations.
An otherwise eligible student can receive a Direct Subsidized Loan when that student has a Remaining Eligibility Period that is one year or greater. However, there are special considerations if the student’s Remaining Eligibility Period is greater than zero years, but less than one year. These students can receive a Direct Subsidized Loan if:
- The school can originate a Direct Subsidized Loan in compliance with all Direct Loan origination rules as provided in the regulations at 34 CFR 685.301, with particular attention to the applicable minimum loan period rules, as discussed below; and
- The loan’s loan period, academic year, enrollment status, and loan amount results in a Subsidized Usage Period that is equal to or less than the student’s Remaining Eligibility Period.
The EA discusses differences between credit term programs and non-term programs, academic year and loan period considerations, enrollment status adjustments and loan amount issues. In fact we remind schools that if awarding a full annual Direct subsidized loan for a period shorter than an academic year, the subsidized usage period is generally set to one year (unless adjusted for enrollment status). In such instances, the school should give the student the most in Direct Subsidized Loan funds that the student is eligible to receive but keeping this limitation in mind. For some students, that could be just one dollar less than the annual loan limit.
For a detailed discussion regarding awarding Direct Subsidized Loans during eligibility periods less than one year, please see the October 19, 2015 EA – http://ifap.ed.gov/eannouncements/10191515DirectSubsidizedLoanLimitEA20determiningEligibitityPeriodislessthan1yea.html.
Again, I hope everyone has a safe and happy Thanksgiving and that I will see many of my SASFAA colleagues at the FSA Training Conference in Las Vegas. And remember – any questions asked in Vegas, stay in Vegas.
Federal Training Officer David Bartnicki recently shared updates on a variety of topics. To ease your reading process, we have split his update into two blog posts. Look for Part 2 tomorrow.
Recent Title IV Guidance:
October 30, 2015 Federal Register – Final Rules (Program Integrity)
On October 30, 2015, ED posted a federal register containing the final rules associated with cash management, clock hour program definitions and repeat coursework. I encourage all schools to thoroughly read the new regulations.
Some key highlights under cash management:
- Establish two different types of arrangements between institutions and financial account providers: “tier one (T1) arrangements” and “tier two (T2) arrangements,” which require certain reporting of data and disclosures to students depending on the type of arrangement
- Define a “T1 arrangement” as an arrangement between an institution and a third-party servicer, under which the servicer (1) performs one or more of the functions associated with processing direct payments of Title IV funds on behalf of the institution, and (2) offers one or more financial accounts under the arrangement, or that directly markets the account to students itself or through an intermediary
- Define a “T2 arrangement” as an arrangement between an institution and a financial institution or entity that offers financial accounts through a financial institution under which financial accounts are offered and marketed directly to students. However, if an institution documents that, in one or more of the three recently completed award years, no students received credit balances at the institution, the requirements associated with T2 arrangements do not apply. If, for the three most recently completed award years, the institution documents that on average fewer than 500 students and less than five percent of its enrollment received credit balances then only certain requirements associated with T2 arrangements apply.
- Require institutions that have T1 or T2 arrangements to establish a student choice process that: prohibit an institution from requiring students to open an account into which their credit balances must be deposited; require an institution to provide a list of account options from which a student may choose to receive credit balance funds electronically, where each option is presented in a neutral manner and the student’s preexisting bank account is listed as the first and most prominent option with no account preselected; and ensure electronic payments made to a student’s preexisting account are initiated in a manner as timely as, and no more onerous than, payments made to an account made available pursuant to a T1 or T2 arrangement
- Restrictions on the kind of PII data or access devices that can be shared between students and T1 or T2 providers before student consent is provided
- Mitigate fees incurred by student aid recipients by requiring reasonable access to surcharge-free automated teller machines (ATMs), and, for accounts offered under a T1 arrangement, by prohibiting both point-of-sale (POS) fees and overdraft fees charged to student account holders, and by providing students with the ability to conveniently access Title IV, HEA program funds via domestic withdrawals and transfers in part and in full up to the account balance, without charge, at any time following the date that such Title IV, HEA program funds are deposited or transferred to the financial account
- Require that contracts governing T1 and T2 arrangements are conspicuously and publicly disclosed
- Require that cost information related to T1 arrangements is conspicuously and publicly disclosed
- Require that cost information related to T2 arrangements is conspicuously and publicly disclosed when on average over three years, five percent or more of the total number of students enrolled at the institution received a Title IV credit balance or the average number of credit balance recipients for the three most recently completed award years is 500 or more
- Ensure that Title IV funds are not part of any account sweeps
- Schools on reimbursement or on heightened cash monitoring must pay any credit balances due to the students for whom it seeks payment prior to seeking reimbursement or requesting funds and cannot hold credit balances even with student authorization
- Require interest-bearing accounts to the extent practicable under OMB guidance in 2 CFR 200.305(b)(8). Interest-bearing account not required if:
- School receives less than $120,000 annually
- Best available account would not be expected to earn more than $500 on Federal cash balances
- The bank would require an average or minimum balance so high that it would not be feasible in light of Federal and non-Federal cash resources
- A foreign government or banking system prohibits or precludes interest-bearing accounts
- Any interest earned over $500 must be remitted to the Department of Health and Human services no later 30 days after the award year
- School may credit a student’s account with Title IV funds to pay only for charges associated with the current payment period. A school that charges upfront for the entire cost of a program (or that charges for more than a payment period) must prorate the charges.
- Modified the definition of current year under prior year charges to include (at the school’s discretion) either the current loan period or award year if the student receives a DL and other Title IV aid in a payment period
- Providing books and supplies by the seventh day of the payment period (if certain funding criteria is met) is now for all Title IV recipients, not just Pell recipients
- School may include the cost of books and supplies as part of tuition and fees under three circumstances:
- Has an arrangement with book publisher or other entity that enables the school to make books and supplies available to students for prices below competitive market rates, and provides a way for students to obtain the books and supplies by the seventh day of the payment period and has a policy permitting students to opt out;
- The books and supplies, including digital and electronic course materials, are not available elsewhere or accessible by students from sources other than those provided or authorized by the school; or
- The school documents there is a compelling health or safety reason
- Third-party servicer also responsible for confirming student eligibility if engaged by the school to conduct activities or transactions that lead to or support a disbursement
Repeat Coursework highlights:
- Allow an institution offering term-based programs to count, for enrollment status purposes, courses a student is retaking that the student 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
- Applies to undergraduate, graduate and professional students
Clock hour program definition under the clock to credit hour conversion regulations highlights:
- Eliminates the provisions in 34 CFR 668.8(k)(2) that otherwise require a program to be measured in clock hours if:
- Receives Federal or State approval or licensure to offer the program
- Completing clock hours is required for graduates to apply for licensure or practice the occupation
- The credit hours awarded do not comply with the definition of a credit hour
- Eliminates the provision in (k)(3) relating to a component of a program includes a minimum number of clock hours
At this time most regulations under the 10/30/15 federal register are effective July 1, 2016. A few regulations are effective later including: posting of contracts for T1 and required T2 arrangements (9/1/16); contract cost information for T1 and required T2 arrangements (9/1/17); and financial account costs associated with T1 and required T2 arrangements in an established format (July 1, 2017). ED is currently considering early implementation for certain regulations and if approved, any new timeframes will be shared on IFAP.
October 30, 2015 Federal Register – Final Rules (Federal Loan Programs)
On October 30, 2015 ED posted another federal register containing final rules associated with Cohort Default Rates appeals using participation rate index (PRI), Servicemembers Civil Relief Act (SCRA) assistance and a new income contingent repayment plan, called the Revised Pay As You Earn repayment plan (REPAYE plan). I, again, encourage all schools to thoroughly read the new regulations.
Some key REPAYE repayment plan highlights –
- Provide that, for each year a borrower is in the REPAYE plan, the borrower’s monthly payment amount is recalculated based on income and family size information provided by the borrower. If a process becomes available in the future that allows borrowers to give consent for the Department of Education (the Department) to access their income and family size information from the Internal Revenue Service (IRS) or another Federal source, the regulations will allow use of such a process for recalculating a borrower’s monthly payment amount.
- In the case of a married borrower filing a separate Federal income tax return, use the adjusted gross income (AGI) of both the borrower and the borrower’s spouse to calculate the monthly payment amount. A married borrower filing separately who is separated from his or her spouse or who is unable to reasonably access his or her spouse’s income is not required to provide his or her spouse’s AGI.
- Limit the amount of interest charged to the borrower of a subsidized loan to 50 percent of the remaining accrued interest when the borrower’s monthly payment is not sufficient to pay the accrued interest (resulting in negative amortization). This limitation applies after the consecutive three-year period during which the Secretary does not charge the interest that accrues on subsidized loans during periods of negative amortization.
- Limit the amount of interest charged to the borrower of an unsubsidized loan to 50 percent of the remaining accrued interest when the borrower’s monthly payment is not sufficient to pay the accrued interest (resulting in negative amortization)
- For a borrower who only has loans received to pay for undergraduate study, provide that the remaining balance of the borrower’s loans that have been repaid under the REPAYE plan is forgiven after 20 years of qualifying payments
- For a borrower who has at least one loan received to pay for graduate study, provide that the remaining balance of the borrower’s loans that have been repaid under the REPAYE plan is forgiven after 25 years of qualifying payments
- Provide that, if the borrower does not provide the income information needed to recalculate the monthly repayment amount, the borrower is removed from the REPAYE plan and placed in an alternative repayment plan
- Allow the borrower to return to the REPAYE plan if the borrower provides the Secretary with the income information for the period of time that the borrower was on the alternative repayment plan or another repayment plan. If the payments the borrower was required to make under the alternative repayment plan or the other repayment plan are less than the payments the borrower would have been required to make under the REPAYE plan, the borrower’s monthly REPAYE payment amount will be adjusted to ensure that the excess amount owed by the borrower is paid in full by the end of the REPAYE plan repayment period.
- Provide that payments made under the alternative repayment plan will not count as qualifying payments for purposes of the Public Service Loan Forgiveness Program, but may count in determining eligibility for loan forgiveness under the REPAYE plan, the income-contingent repayment plan, the income-based repayment plan, or the Pay As You Earn repayment plan (each of these plans may be referred to as an ‘‘income-driven repayment plan’’ or ‘‘IDR plan’’) if the borrower returns to the REPAYE plan or changes to another income-driven repayment plan
Some key Cohort Default Rate highlights include:
- Permit an institution to bring a timely PRI challenge or appeal in any year in which the institution’s CDR is less than or equal to 40 percent, but greater than or equal to 30 percent, for any of the three most recently calculated fiscal years
- Provide that an institution will not lose eligibility based on three years of official CDRs that are less than or equal to 40 percent, but greater than or equal to 30 percent, and will not be placed on provisional certification based on two such rates, if it brings a timely appeal or challenge with respect to any of the relevant rates and demonstrates a PRI less than or equal to 0.0625, provided that the institution has not brought a PRI challenge or appeal with respect to that rate before, and that the institution has not previously lost eligibility or been placed on provisional certification based on that rate
- Provide that a successful PRI challenge with respect to a draft CDR is effective not only in preventing imposition of sanctions upon issuance of the official CDR for that year, but in preventing the institution from being placed on provisional certification or losing eligibility in subsequent years based on the official CDR for that year if the official rate is less than or equal to the draft rate
Some key SCRA highlights include:
- Require FFEL Program loan holders to proactively use the authoritative database maintained by the DOD to begin, extend, or end, as applicable, the SCRA interest rate limit of six percent
- Permit a borrower to use a form developed by the Secretary to provide the loan holder with alternative evidence of military service to demonstrate eligibility when the borrower believes that the information contained in the DOD database may be inaccurate or incomplete
Some key loan rehabilitation highlights include:
- Assist with the transition to loan repayment for a borrower who rehabilitates a defaulted loan, by requiring a guaranty agency to: Provide each borrower with whom it has entered into a loan rehabilitation agreement with information on repayment plans available to the borrower after rehabilitating the defaulted loan; explain to the borrower how to select a repayment plan; and provide financial and economic education materials to borrowers who successfully complete loan rehabilitation
- Amend § 682.405 with respect to the cap on collection costs that may be added to a rehabilitated loan when it is sold to a new holder and the treatment of rehabilitated loans for which the guaranty agency cannot secure a buyer, to conform with the Higher Education Act of 1965, as amended (HEA)
As far as effective dates, the Secretary is exercising his authority under section 482(c) to implement the new and amended regulations specific to the REPAYE repayment plan included in this document in December 2015. The implementation of the regulations that expand availability of PRI challenges and appeals from the potential consequences of an institution’s CDR is predicated on the automated support that will be provided through the implementation of the Data Challenges and Appeals Solutions (DCAS) system within the Department’s Federal Student Aid office. The DCAS system is slated for implementation in 2017. The remaining final regulations in the 10/30/15 federal register dealing with Federal loan programs are effective July 1, 2016.
FSA continues to spread the word about the FSA ID, a login (replacing the FSA PIN) that students must now have to complete the FAFSA online. To help students in this transition, FSA offers a variety of online resources.
An overview of the FSA ID, as well as answers to many questions can be found here.
A general FAQ that covers trending questions about the FSA ID, as well as questions about the FAFSA, is available at https://fafsa.gov/help.htm?sf42361501=1.
Visual learners can watch live FSA ID registration demonstrations during FSA webinars on November 19 and December 10. More information and webinar registration links are available here.
Students ready to create their new FSA ID now can do so at https://fsaid.ed.gov/npas/index.htm.
Please feel free to share these resources with your students and continue to spread the word about the FSA ID.
A friend – we’ll call him Larry – had an interesting approach to college finances. The approach? He spent as if he had a money tree planted out back.
Larry bought piles of video games. He ate out every day. He even bought one of those belts that is supposed to sculpt your abs into a six-pack (essentially through electric shock). To be fair, it did seem like the perfect addition to a lifestyle featuring video games and fast food.
Bad news: the ab belt didn’t work, and neither did Larry’s approach to finances.
It is easy for students to go a little wild with their money in college. Nelnet is out to ensure that students are financially healthy, now and for the rest of their lives. To help, we offer a downloadable handout with nine tips for achieving financial wellness.
1. Know where your money goes
Be aware of how you are spending your money. A $4 cup of coffee five days a week costs you $80/month. Review some of the items you spend your money on to find areas where cutting back can move your savings account forward.
2. Develop a budget
Plan for your expenditures by developing a budget and live within your means based on your monthly income. Make adjustments to remain within your budget and don’t use a credit card to cover a shortfall or unnecessary purchases.
3. Include savings in your budget
Pay yourself first. Treat your savings account like any other monthly bill by making a monthly payment toward it.
4. Plan for major purchases
Adjust your budget accordingly to build savings for your next major purchase without using credit.
5. Save for emergencies
A good rule of thumb is to have a minimum of six months of salary available in your savings account. While this goal will take time to achieve, it is important to strive for it so you’re prepared for most unexpected emergencies.
6. Plan for retirement
Take advantage of interest and market upturns by saving for retirement early. Often your employer will help you save for retirement with a 401(k) plan. You can also benefit from pre-tax contributions using this method of retirement savings.
7. Get tax advice
If you have circumstances that create tax dilemmas (e.g., self-employed, own and/or lease property, etc.), make sure to seek tax advice from a professional for the best outcome.
8. Protect your credit
You have the right to pull a free credit report from each reporting bureau once per year by going online to AnnualCreditReport.com. Keep in mind that late payments will adversely impact your credit, as will a failure to pay. You should immediately report any credit issues or discrepancies to the reporting bureau. Use your credit wisely and ensure your reports are accurate.
9. Keep good financial records
Utilize online tools as well as paper copies of receipts to keep records of your pay stubs, banking information, taxes, insurance, and other documents important to your financial situation.
You can find this handout, along with a variety of helpful, downloadable resources for schools and borrowers, in our library. We hope these resources help you steer your students toward a lifetime of financial fitness.
That’s the sort of fitness that even an ab belt can’t promise.
We would like to thank our school partners and industry peers for making this year’s SWASFAA Conference a wonderful opportunity for learning and sharing.
FSA recently announced two instructor-led, online training sessions that will provide information about the Gainful Employment (GE) Completers List, which will be distributed to schools from NSLDS in the coming weeks. These webinars will include information about how to interpret the list data, as well as how to submit a challenge.
For more information, including links to registration sites, please see the original announcement at http://www.ifap.ed.gov/dpcletters/ANN1516.html.
2015 NYSFAAA Conference | Buffalo, NY
Anne Del Plato, Lou Murray
Thanks to our school partners and industry peers for making this year’s NYSFAAA Conference a spooky good time.