Review of Recent Announcements

As a service to its participating schools and lenders, Utah Higher Education Assistance Authority offers the following review of recent announcements and releases from the U.S. Department of Education, Federal Student Aid, and related sources.  These reminders cover topics of general interest and importance that relate to the administration of federal student aid.

SAR/ISIR Reference Materials

Date: October 6, 2008
Summary: The Draft 2009-2010 Student Aid Report (SAR) and the SAR Acknowledgement were posted by FSA to the Federal Register. Public comment was invited.
http://ifap.ed.gov/sarmaterials/1006Draft0910SARandSARAcknowledge.html

Electronic Announcements

Date: October 14, 2008
Summary: FSA clarifies that the Federal Trade Commission (FTC) Identity Theft “Red Flag Rules” apply to institutions participating in the Federal Perkins Loan Program, and may affect other credit programs administered by the schools.
http://ifap.ed.gov/eannouncements/1014FTCRedFlagRules.html

Date: October 17, 2008
Summary: To ensure security of Federal Student Aid’s data systems, FSA is requiring active confirmation that staff with TG numbers and access to “FAA Access to CPS Online” still need that access.  Confirmation is required by December 15, 2008.
http://ifap.ed.gov/eannouncements/101708DistriAnnualDPAFAARostersAct.html

Date: October 24, 2008
Summary: FSA announces the posting of the 2009-2010 Summary of Changes for the Application Processing System guide.  Information about enhancements are included as well.
http://ifap.ed.gov/eannouncements/102408SummChgsAppProcSysGuide20092010.html

Date: October 27, 2008
Summary: 2008-2009 ISIR reprocessing was done for applicants impacted by a Department of Homeland Security (DHS) match issue. Affected were student records that contain an Alien Registration Number (ARN) beginning with “06.” Records processed on or after October 31, 2008 will be subject to the new match.
http://ifap.ed.gov/eannouncements/1027ISIRReprocDHSMatchIssue.html

FSA Handbook

Date: October 16, 2008
Summary: Volume 3 of the FSA Handbook has been posted to IFAP.  Viewing requires 4.0 or greater of the free Adobe Acrobat Reader software.
http://ifap.ed.gov/sfahandbooks/0809FSAHBKVol3.html

Federal Register

Date: October 23, 2008
Summary: Final Regulations were posted amending Federal Perkins Loan (Perkins Loan) Program and Federal Family Education Loan (FFEL) Program rules, and implementing provisions of the College Cost Reduction and Access Act of 2008 (CCRAA). Included are rules implementing the Income-Based Repayment (IBR) plan and the Public Service Loan Forgiveness Program.
http://ifap.ed.gov/fregisters/FR10232008.html

Any questions related to this Bulletin should be directed to UHEAA Policy and Training at 801.321.7166, or by e-mail to mjohnson@utahsbr.edu.

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