In an effort to provide not only the over 150 attendees on yesterday’s call, but the entire FAME Membership with important information on pending deadlines and the resources that can be used to help ensure your compliance, please take the opportunity to review FAME’s September 7, 2021 Webinar and the key information below.
Friday, September 10, 2021 – HEERF III Proprietary Institution Application/Decline Deadline
By no later than this coming Friday, proprietary institutions of higher education must disclose to the Department whether or not they intend to draw down or decline access to the Higher Education Emergency Relief Funds provided under the American Rescue Plan. The original deadline for proprietary institutions to provide information to the Department was August 11, 2021. However, on August 17, 2021 the Department published a notice Reopening the application and rejection process. The following links will assist your institution in complying with the regulatory requirements.
HEERF III Frequently Asked Questions Document (See Question 6 on Voluntary Rejection of HEERF III resources)
Friday, September 17, 2021 – Constitution & Citizenship Day
By law all institutions of higher education participating in the Federal Student Financial Assistance Programs must provide a program on or about September 17th of each year paying homage to the establishment of the U.S. Constitution and Citizenship Day. As prescribed in regulation each participating institution must provide a program to all students (including internship/externship/clinical students) – ensuring that both resources and some form of student interaction occur in conjunction with the program. The link to the Department’s webpage provides more details and resources that are designed to assist institutions in the development of their individual programs.
Friday, September 24, 2021 – Anticipated Publication of Fiscal Year 2018 Three-year Cohort Default Rate Data
Each Fall, on or around the end of the month of September, the Department publishes the official annual cohort default rates for institutions of higher education and shares the rates with all institutions (foreign and domestic) electronically via the eCDR process. FAME expects the Department to publish the FY18 rates the last Friday of the month of September or early the following week. Institutions should be on the lookout for this important eligibility and compliance information.
Friday, October 1, 2021 – Annual Security Report
By no later than October 1st of each year all institutions of higher education participating in the Federal Student Financial Assistance Programs must provide a comprehensive Annual Security Report to the Department, all current and prospective students, and staff. The link to the Department’s webpage provides more details and resources on how institutions are to collect and report the data, including required forms, information on distribution to students and faculty, and more.