July 1 is that magical day when Federal Regulations affecting institutions that participate in Title IV federal financial aid programs become effective for regulations that were released by the U.S. Department of Education by November 1 of last year. The purpose of this timing is for financial aid offices at institutions to have time to implement any new regulations for the new financial aid year.
This year is no exception! Not only are we dealing with how the pandemic has affected postsecondary institutions since March, but we are all looking toward the new academic year and trying to make reasonable decisions about the delivery of education and maintaining academic continuity for our students.
In today’s post, we will review the three regulations effective July 1st, and discuss the potential impact of each:
- Federal regulations that repeal the 2014 Gainful Employment Regulations (final regulations released 7/1/19).
- Regulatory action that rescinds the Gainful Employment regulations from 2014 and removes and reserves subpart Q of the Assistance General Provisions in 34 CFR 668.
- Regulatory action that rescinds subpart R of the Student Assistance and General Provisions in 34 CFR 668.