Questions Regarding the Financial Responsibility Provisions of the 2016 Borrower Defense Regulations – IFAP
On March 15, 2019, the Department of Education issued an Electronic Announcement, with the subject “Guidance Concerning Some Provisions of the 2016 Borrower Defense to Repayment Regulations.” Recently the Department has received a number of inquiries as to the implementation of the guidance in the Electronic Announcement relating to the reporting requirements in the financial responsibility regulations. Until such time as additional answers can be provided in response to these inquiries, the Department reiterates that the 2016 regulations are in effect, that the Department and institutions are bound by the plain language of those regulations, and that the Department will apply them accordingly. Institutions will have the opportunity to amend or supplement their reports in light of these additional answers and will be given a timeline for such supplemental reporting along with the answers.
Contact Information
We appreciate your diligence in maintaining compliance with the Title IV regulations. To comment on these matters, please contact Annmarie.Weisman@ed.gov and Linda Shewack at Linda.Shewack@ed.gov.