Home Features Financial Aid

Financial Aid

New Laws Facing Student Loan Servicers – What Higher Ed Leaders Need to Know

By Benjamin Breitbart, Vice President, TFC Tuition Financing
Several states are enacting new laws that require licensure of student loan servicers and educational institutions need to be aware of each state’s specific requirements. It is critical for schools to keep abreast of the new regulations in order to stay compliant and avoid possible penalties.

Transfer Students and Return to Title IV Funds

Cybersecurity and Potential Loss of Title IV Eligibility

By Michelle Donovan, Partner and Jessica S. High, Attorney, Duane Morris, LLP
The Department has taken several actions that make it abundantly clear that Title IV schools must adhere to strict federal cybersecurity regulations. It has also explicitly stated that it considers a breach to the security of student records as a demonstration of a potential lack of administrative capability, which can lead to restrictions on a school’s Title IV funding, including a complete loss of Title IV eligibility.

New Laws Facing Student Loan Servicers – What Higher Ed Leaders Need to Know

What are the School Responsibilities When Outsourcing With a Third-Party Servicer?

By Sandi O’Connell, Vice President of Operations, Financial Aid Services, Inc.
An institution must be sure it understands its responsibilities when contracting with a third-party servicer. The Department of Education expects an institution to understand the relationship of who does what and who is liable for what.

New Laws Facing Student Loan Servicers – What Higher Ed Leaders Need to Know