As we all know, the only constant in financial aid, is that the rules are constantly changing. With federal aid programs representing the largest source of financial aid at most schools, the government has made strengthening these programs their main priority. It is vital that these programs remain available to the students that need them.
So, in an effort to guarantee sustainability of these programs, on October 28, 2010, President Obama signed into law new rules ensuring program integrity among institutions of higher education. These new rules included the following:
- Holding Programs Accountable for Preparing Students for Gainful Employment
- Protecting consumers from misleading or overly aggressive recruiting practices, and clarifying state oversight responsibilities.
- Ensuring that only eligible students receive federal funds.
- Clarifying the courses that are eligible for federal aid, and the amount of aid that is appropriate.
To date, many resources have been made available to aid administrators to ensure compliance with these new regulations. NASFAA is currently offering a webinar training series on these new regulations. The second part of their series, Program Integrity Part II, is scheduled for January 27, 2011. This session will focus on Ability to Benefit, HS Diploma, Verification, Satisfactory Academic Progress, Arrangements between Institutions, Incentive Compensation, and Misrepresentation. For more information and to register, go tohttps://www1.gotomeeting.com/register/837545928.