Washington News Brief

June 13, 2017 Jenny

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Washington Perspective

By Sharon H. Bob, Ph.D., Higher Education Specialist, Powers Pyles Sutter and Verville, PC
The following is a summary of important higher education news originating from Washington D.C.

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Washington News Brief

The New Lease Standard – The Perfect Storm for Failing the Composite Score Ratio

June 13, 2017 Jenny

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Accounting

By Michael T. Wherry, CPA, Director/Shareholder and Ted Blendermann, CPA Director/Shareholder, McClintock & Associates, PC
While news stories over the past few years related to the postsecondary school sector have focused on compliance regulations, admissions processes, outcomes, and student debt, a new accounting standard set to take effect in a couple of years will have a significant impact on the U.S. Department of Education’s annual composite score ratio. As is normally the case, the potential effect on all postsecondary institutions is detrimental.

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PPP Loans and HEERF Grants: A Guide to Accounting, Reporting and Composite Score Considerations

MAPCS Goes Regional

June 13, 2017 Jenny

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Associations & Accreditations

By James (Jim) A. Bologa, President and Chief Executive Officer, Porter and Chester Institute and YTI Career Institute
The purpose of this article is to share what MAPCS went through to form a regional state association and to inform other private career school state associations of the benefits and challenges associated with this process.

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Preeminent Event Focuses on Executive Information Sharing and Networking

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

June 13, 2017 Jenny

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Financial Aid

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.

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Preparing for Student Loan Repayment

How Accommodating is Your College?

June 13, 2017 Jenny

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Legal and Regulatory Issues

By Darren K. Sharp, Partner, Co-leader of the Higher Education Industry Team, Armstrong Teasdale
College students with disabilities are afforded legal rights under the Americans with Disabilities Act (ADA), as amended, and Section 504 of the Rehabilitation Act (§504), including the right to seek reasonable accommodations from their schools to participate and succeed in their academic careers. This article addresses the more common legal accommodations provided under applicable federal statutes.

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Negotiated Rulemaking Committee on Affordability and Student Loans – Session One

How Much Does it Cost?

June 13, 2017 Jenny

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Financial Aid

By D. Sherwin Hibbets, Director of Regulatory Affairs, FAME
Higher education institutions are held responsible for the cost of attendance (COA) budgets they utilize in awarding Federal Student Aid. But, what actually is a COA budget, and how are they determined?

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Preparing for Student Loan Repayment

PAPSA/CSPEN Survey Finds That ACICS-Accredited School’s Still Hope for More Time and Support in Transition Process

June 13, 2017 Jenny

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Associations & Accreditations

By Tom Netting, Co-Executive Director, CSPEN and Aaron Shenck, Executive Director, PAPSA
PAPSA and CSPEN collaborated on the circulation of an anonymous survey seeking additional information and a status report on where ACICS-accredited schools are in the process of transitioning from ACICS to a different accrediting agency or agencies. This article discusses those results.

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Preeminent Event Focuses on Executive Information Sharing and Networking