NACUBO Issues Further Guidance on ED Regulations

NACUBO Issues Further Guidance on ED Regulations

Last year, the Department of Education (ED) released final regulations revising financial responsibility, administrative capability, certification procedures and ability-to-benefit programs for institutions participating in Title IV under the Higher Education Act. Effective July 1, 2024, these changes aim to strengthen oversight of institutions' financial health.

In response, the National Association of College and University Business Officers (NACUBO) recently issued guidance on navigating these new and updated requirements. Due to the complexities, NACUBO recommends that colleges and universities consult legal counsel, risk, compliance and audit professionals to ensure proper implementation.

Key Goals of the New Regulations:

  • Identify financially at-risk institutions
  • Require financial safeguards as needed
  • Ensure institutions manage Title IV programs effectively
  • Establish a stricter certification process

Notable Changes:

  • New general financial responsibility standards
  • Revised and expanded triggers for financial surety or score recalculations
  • More detailed reporting of transactions with related parties

These comprehensive changes promote a more accountable higher education sector, fostering financial stability for institutions and students.

Visit the NACUBO website for detailed guidance.


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NACUBO Issues Further Guidance on ED Regulationshttps://www.cbiz.com/Portals/0/Images/FSArticle_NACUBO Issues Further Guidance on ED Regulations_Hero-1920x1000.jpg?ver=tqRudmf0KqgxMr3ntvUvSg%3d%3dhttps://www.cbiz.com/Portals/0/Images/FSArticle_NACUBO Issues Further Guidance on ED Regulations_Thumbnail-300x200.jpg?ver=Y10zzc1_OnWcTT0p4dgBJA%3d%3dNavigate the complexities of the Department of Education's updated financial and administrative requirements with insights from NACUBO's latest guidance. Ensure your institution is compliant.2024-05-22T17:00:00-05:00

Navigate the complexities of the Department of Education's updated financial and administrative requirements with insights from NACUBO's latest guidance. Ensure your institution is compliant.

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