News & Analysis as of

Financial Aid

Blog: Department of Education’s Announcement Leaves Unanswered Questions Regarding Coming Gainful Employment Rule Deadline

by Cooley LLP on

The Department of Education’s (ED) announcement that it plans to engage in a new negotiated rulemaking to revise the Gainful Employment (GE) Rule leaves unanswered critical questions regarding the implementation of certain GE...more

Blog: As the Department of Education Revisits the Gainful Employment Rule California Legislators Propose a State Alternative

by Cooley LLP on

With continued questions about the Trump Administration’s commitment to Obama-era regulations, including the Gainful Employment (GE) Rule, one state is ready to jump into the fray and offer its own state-based alternative to...more

Congress Eliminates Obama-Era Regulations on Teacher Preparation Programs

by Hogan Lovells on

President Trump signed into law on March 27 a joint resolution to nullify U.S. Department of Education (ED) regulations relating to teacher preparation programs pursuant to the Congressional Review Act (CRA). As noted in its...more

Blog: New Department of Education Accreditation Database: A Promising Start, But Clearly a Work in Progress

by Cooley LLP on

The Department of Education (ED) has launched a new online database intended to provide current and prospective students, as well as the broader community, with current information on the accreditation status of institutions...more

IRS is Hacked, Again!

The New York Times reported yesterday that identity thieves may have compromised up to 100,000 U.S. taxpayer accounts. The criminals apparently took advantage of a software tool that loaded information from tax returns onto...more

[Webinar] New Audit Guidelines for Higher Educational Institutions - February 1st, 11:00am CT

by Thompson Coburn LLP on

On Wednesday, February 1, Mike Wherry, a CPA with 25 years of experience in the public sector to postsecondary schools will join Aaron Lacey in presenting a webinar focusing on the four main changes that were issued in the...more

Alert: ACICS Files Suit to Overturn Loss of Recognition

by Cooley LLP on

On December 12, 2016, US Secretary of Education John King issued his final – and expected – decision denying the appeal filed by the Accrediting Council for Independent Colleges and Schools ("ACICS") and terminated its status...more

D.C. Circuit to hold Feb. 2 argument on CFPB authority to issue CID to college accrediting organization

by Ballard Spahr LLP on

The D.C. Circuit will hear oral argument on February 2, 2017 on the CFPB’s appeal from the D.C. federal district court’s April 2016 ruling that the CFPB exceeded its statutory authority when it issued a CID to the Accrediting...more

Potential split emerges regarding the proper interpretation of the Supreme Court’s decision in Escobar

by Dentons on

As we previously reported, the Supreme Court’s decision in Universal Health Services, Inc. v. United States ex rel. Escobar, 136 S. Ct. 1989 (2016), appears clear in its holdings that: (1) implied certification may support...more

ITT Tech Closes Its Doors – What it Means for You and Your Student Loans

by John Skiba on

ITT Technical Institute announced on Tuesday, September 6, 2016 their plans to shut down all of their remaining campuses. The decision comes as the U.S. Education Department announced the previous week they would no...more

Alert: ED Seeks Further Compliance with Third-Party Servicer Rules

by Cooley LLP on

On August 18, 2016, the US Department of Education (ED or the Department) issued a Dear Colleague Letter (DCL) providing additional guidance on issues related to the requirements for third parties that provide financial aid...more

Fostering Financial Aid Literacy in Students: H.R. 3179

This is the sixth and final installment in a series examining five bipartisan bills advanced by the House Committee on Education and the Workforce on June 22, 2016 and approved by the full House of Representatives on July 11,...more

Fear No FAFSA: H.R. 5528

This is the second installment in a series examining five bipartisan bills advanced by the House Committee on Education and the Workforce on June 22, 2016. The original post summarizing all five bills was posted in Education...more

FY2017 Massachusetts Budget Update: The Senate Budget

The Massachusetts Senate voted unanimously to pass its FY2017 state budget just before midnight on Thursday, May 26. The spending plan, which totals $39.558 billion, spends $60 million more than Governor Baker’s proposal and...more

Congress Inquires About College and University Endowments

by Morgan Lewis on

US House Committee on Ways and Means and US Senate Committee on Finance issue joint letter to colleges and universities with endowments greater than $1 billion. On February 8, the US Senate Committee on Finance and the...more

The nuts and bolts of HEA Reauthorization

by Thompson Coburn LLP on

As most in higher education are aware, Congress presently is working to reauthorize the Higher Education Act of 1965, as amended (20 U.S.C. 1001 et seq.), the seminal legislation that created and governs the administration of...more

Education Department Reverses Course on Prohibition Against Incentive Compensation Based on Retention and Graduation; Clears Way...

On November 27, 2015, the United States Department of Education announced a reversal of its previously existing prohibition against the payment of incentive compensation based on students’ program completion or graduation...more

The Nuts and Bolts of Reauthorization

by Thompson Coburn LLP on

As most in higher education are aware, Congress is currently working to reauthorize the Higher Education Act of 1965, as amended (HEA), the seminal legislation that created and governs the administration of the federal...more

CFPB sues company and owner for alleged student financial aid scam

by Ballard Spahr LLP on

A new lawsuit filed by the CFPB in a California federal district court alleges that the defendants, a company and its individual owner, are engaged in a nationwide student financial aid scam. In addition to injunctive relief,...more

Ninth Circuit Holds That NCAA’s Amateurism Rules Violate Section 1 of the Sherman Act

In a decision handed down on September 30th, the Ninth Circuit affirmed in part and reversed in part the District Court’s ruling that the NCAA’s “amateurism” rules unlawfully restrained trade in the market for certain...more

Alert: New Proposal Offers Limited Access to Federal Student Aid for Alternative Providers

by Cooley LLP on

On October 15, 2015, the US Department of Education ("ED") issued a long-awaited notice announcing an "Experimental Sites Initiative" ("ESI") to permit limited access to federal loan and grant programs for students enrolled...more

Alert: ED Guidance on Competency-Based Education: Barriers to Adoption Remain

by Cooley LLP on

Institutions that are in the process of developing competency-based education ("CBE") programs now have a clearer window to the US Department of Education's perspective on how federal student financial aid rules can...more

Is Your Institution Ready for the October 1 Clery Report Deadline?

by Baker Donelson on

By October 1, all colleges and universities that participate in federal financial aid programs must publish and distribute to all current and prospective students and employees an Annual Security and Fire Safety Report. As in...more

Alert: "Ability to Benefit" is Back, But Not the Same

by Cooley LLP on

Recently, a number of third-party test providers have begun promoting the Department of Education's ("ED") approval of their Ability-to-Benefit ("ATB") assessments by notifying institutions that, after a three-year hiatus,...more

Alert: Seven Steps To Prepare For The New Gainful Employment Rule

by Cooley LLP on

The Gainful Employment Rules became effective on July 1, 2015, and you probably already know that your institution has a deadline to report six years' worth of institutional, student and financial data to the Department of...more

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