Implementation of Regulations Related to Financial Responsibility, Administrative Capability, Certification Procedures, and Ability to Benefit (ATB) (Updated August 23, 2024)

Note

Update on August 23, 2024: On June 21, 2024, the United States District Court for the Northern District of Texas, in 360 Degrees Education, LLC, et al. v. U.S. Department of Education, et al., granted the plaintiff’s motion for a preliminary injunction preventing the Department from enforcing the changes to 34 CFR 668.14(b)(26) pending a decision by the Court. Therefore, until further notice institutions must continue to comply with the maximum program length regulations under 34 CFR 668.14(b)26 that were in effect prior to July 1, 2024.

Update on May 23, 2024: We have revised this Dear Colleague Letter (DCL) in two areas. The first is where the DCL discusses § 668.23 describing the due date for submission of audited financial statements and compliance audits and the second is where it discusses § 668.171(c) and (d), specifically the financial triggers describing the 90/10 rule, institutional financial arrangements, and the discontinuation of instructional programs. These revisions have been made to clarify and more closely align to the relevant regulatory requirement.

Dear Colleague:

On October 31, 2023, the Department published a final rule in the Federal Register [88 FR 74568] amending the regulations related to financial responsibility, administrative capability, certification procedures, and Ability To Benefit (ATB) pertaining to the student financial assistance programs under Title IV of the Higher Education Act of 1965, as amended (Title IV, HEA programs). This Dear Colleague Letter provides a summary of the requirements that the Department is implementing for the 2024-25 Award Year. Additional information about some of these new requirements may also be provided in subsequent guidance. These regulations are effective July 1, 2024.

Reasons for Changes

The financial responsibility regulations will improve the Department’s ability to identify high-risk events that are likely to have a significant adverse effect on the financial condition of an institution and require the financial protection we believe is needed to protect students and taxpayers. The Department strengthened the institutional requirements in the administrative capability regulations at § 668.16 to improve the administration of the Title IV, HEA programs and address concerning practices that were previously unregulated. The certification procedure in the regulations will create a more rigorous process for certifying institutions to participate in the Title IV, HEA programs. Finally, amendments to the ATB regulations at §§ 668.156 and 668.157 will clarify student eligibility requirements for non-high school graduates and the documentation requirements for eligible career pathway programs.

To further assist institutions in implementing some of these new requirements for 2024-25, we are providing a link to Frequently Asked Questions (FAQs) related to these new requirements on the Office of Postsecondary Education website.

2024-25 Award Year: Summary of Changes

Financial Responsibility (§§ 668.15, 668.23, 668.171, and 668.174 Through 668.177)

§ 668.15. This section has been reserved. The financial responsibility factors, including those dealing with changes in ownership, have been consolidated in subpart L of part 668.

§ 668.23. Requires institutions to submit audit reports by the earlier of 30 days after the date of the auditor’s report or six months after the end of the institution's fiscal year. Additionally, submitted financial statements must match the fiscal year of return(s) submitted to the Internal Revenue Service.

§ 668.23. Requires that, for any domestic or foreign institution that is owned directly or indirectly by any foreign entity holding at least a 50 percent voting or equity interest in the institution, the institution must provide documentation of the entity's status under the law of the jurisdiction under which the entity is organized.

§ 668.171. Specifies additional events that are deemed to constitute a failure to meet institutional financial and administrative obligations, including failure to pay Title IV credit balances, failure to make debt payments for more than 90 days, failure to make payroll obligations, or borrowing from employee retirement plans without authorization.

§ 668.171(c). Amends the set of conditions that require an institution to post financial protection, if applicable, if certain events occur. These mandatory triggers are certain external events, financial circumstances that may not be reflected in the institution's regular financial statements, and financial circumstances that are not yet reflected in the institution's composite score. Some existing mandatory triggers have been modified while some existing discretionary triggers have been redesignated as mandatory. Further, there are some new mandatory triggers that have been added to § 668.171(c). The following is a summary of the changes to the mandatory triggers:

Existing mandatory triggers that have been modified

Certain legal and administrative actions taken against the institution under § 668.171(c)(2)(i);
Withdrawal of owner’s equity with the addition of its applicability through the end of the first full fiscal year following a change in ownership under § 668.171(c)(2)(ii); and
Actions related to publicly listed entities (Securities and Exchange Commission actions/reports, exchange actions, foreign exchanges, or oversight authority) under § 668.171(c)(2)(vi).

Existing discretionary triggers that have been redesignated as mandatory

The institution's two most recent official cohort default rates are 30 percent or greater, as determined under subpart N of 34 CFR part 668, unless certain conditions are met; and
For its most recently completed fiscal year, a proprietary institution did not receive at least 10 percent of its revenue from sources other than Federal educational assistance (changed from Title IV funds in the existing regulation), as provided under § 668.28(c).

New mandatory triggers

If a line of credit, loan agreement, security agreement, or other financial arrangement states that the institution is subject to a default or other adverse condition if the Department takes an action;
The institution received at least 50 percent of its Title IV, HEA program funds in its most recently completed fiscal year from gainful employment (GE) programs that are “failing” under subpart S of 34 CFR part 668;
The institution is required to submit a teach-out plan or agreement by a State, the Department or another Federal agency, an accrediting agency, or other oversight body for reasons related, in whole or in part, to financial concerns;
The institution's financial statements reflect a contribution in the last quarter of its fiscal year followed by a distribution within the first two quarters of the next fiscal year and that results in a recalculated composite score of <1.0;
The institution makes formal declaration of financial exigency to a Federal, State, Tribal, or foreign governmental agency or its accrediting agency; and
The institution files for a State or Federal receivership or has entered against it an order appointing a receiver.

§ 668.171(d). Amends the set of conditions that may, at the discretion of the Department, require an institution to post financial protection. These discretionary triggers are external events or financial circumstances that may not appear in the institution's regular financial statements and are not yet reflected in the institution's calculated composite score. The Department has modified some existing discretionary triggers, redesignated others as mandatory (listed above), and added some new discretionary triggers to § 668.171(d). The following is a summary of the substantive changes to the discretionary triggers:

Existing discretionary triggers that have been modified

The institution is placed on show cause, probation, or an equivalent status by their accrediting agency or Federal, State, local, or Tribal authority; and
The institution is subject to other creditor actions or conditions that can result in a creditor requesting an increase in collateral; an increase in interest rates or payments; or other sanctions, penalties, and fees, and such event is not captured as a mandatory trigger. This trigger also captures judgments that resulted in the awarding of monetary relief that is subject to appeal or under appeal.

New discretionary triggers

There is a significant change, upward or downward, in the volume of Direct Loan or Pell Grant funds, or a combination of those funds, received at an institution between consecutive award years or over a period of award years;
For an institution that is required to provide additional reporting due to a lack of financial responsibility or a change in ownership, there are negative cash flows, failure of other financial ratios, significant increase in withdrawal rates, or other indicators of a significant adverse change of the financial condition of a school;
The institution has pending borrower defense claims, the Department has formed a group process to consider those claims, and, if the claims are approved, the discharged amounts could be subject to recoupment;
The institution discontinues a program or programs that enroll more than 25 percent of its enrolled students that receive Title IV, HEA program funds;
The institution closes locations that enroll more than 25 percent of its students who receive Title IV, HEA program funds;
The institution, or one or more of its programs, is cited by a State licensing or authorizing agency for failing to meet State or agency requirements, including notice that it will withdraw or terminate the institution's licensure or authorization if the institution does not take the steps necessary to come into compliance with that requirement;
The institution or one or more of its programs loses eligibility to participate in another Federal education assistance program due to an administrative action;
An institution that is at least 50 percent owned, directly or indirectly, by an entity that is listed on a domestic or foreign exchange notes in a public filing that it is under investigation for possible violations of State, Federal, or foreign law;
The institution is cited and faces loss of education assistance funds from another Federal agency if it does not comply with that agency's requirements;
The institution is required to submit a teach-out plan or agreement, including programmatic teach-outs, that is not captured in § 668.171(c)(2)(iv); and
Any other event or condition the Department learns about from the institution or other parties that the Department determines is likely to have a significant adverse effect on the financial condition of the institution.

§ 668.171(e). Revises the process to recalculate the composite score due to triggering events.

§ 668.171(f). Revises the set of conditions under which an institution must report triggering events.

§ 668.171(g). Provides the conditions under which the Department finds public institutions with full faith and credit backing from the State to be financially responsible. Specifically, related to conditions such as past performance and heightened cash management, but not letters of credit. States that the Department will ask for proof of full faith and credit backing when a public institution first seeks to participate in the aid programs, or if it converts to public status. For already existing public institutions, the Department may, upon request, ask for proof of full faith and credit backing.

§ 668.171(h). Provides that, if an auditor’s opinion expresses doubt about the institution’s ability to continue operations, the Department may independently assess whether the auditor’s concerns have been addressed or whether the opinion of doubt reflects a lack of financial responsibility.

§ 668.174. Clarifies the language related to compliance audit or program review findings that lead to a liability of greater than 5 percent of Title IV, HEA volume at the institution, to more clearly state that the relevant reports are the final reports (FAD/FPRD) issued in the two most recent years, rather than reviews conducted in the two most recent years.

§ 668.176. Specifies the consolidated financial responsibility requirements for institutions undergoing a change in ownership.

Administrative Capability (§ 668.16)

§ 668.16(h). Requires institutions to provide adequate financial aid counseling and communication to enrolled students that includes more information about the cost of attendance; sources and amounts of each type of aid, separated by the type of aid; the net price; instructions and applicable deadlines for accepting, declining, or adjusting award amounts; and advising students and families to accept the most beneficial types of financial assistance available to them.

§ 668.16(k). Requires that an institution not have any principal, affiliate, or any individual who exercises substantial control that has been subject to specified negative actions, crime or fraud involving Federal, State, Tribal, or local government funds, or engaged in prior conduct that caused a loss to the Federal Government.

§ 668.16(n). Requires that an institution must not have been subject to a significant negative action by a State or Federal agency, a court, or an accrediting agency and has not lost eligibility to participate in another Federal educational assistance program due to an administrative action against the institution.

§ 668.16(p). Strengthens the requirement that institutions must develop and follow adequate procedures to evaluate the validity of a student's high school diploma and includes requirements for when institutions must consider a high school diploma invalid.

§ 668.16(q). Requires that institutions provide adequate career services to eligible students who receive Title IV, HEA program assistance.

§ 668.16(r). Requires institutions to provide students with geographically accessible clinical or externship opportunities related to and required for completion of the credential or licensure in a recognized occupation, within 45 days of the completion of other required coursework.

§ 668.16(s). Requires institutions to disburse funds to students in a timely manner consistent with the students' needs.

§ 668.16(t). Requires that, for institutions that offer gainful employment (GE) programs, less than half of their total Title IV, HEA revenue come from programs that are “failing” under subpart S.

§ 668.16(u). Requires that an institution does not engage in substantial misrepresentations or aggressive and deceptive recruitment.

Certification Procedures (§§ 668.13, 668.14, and 668.43)

§ 668.13(b)(3). Removes the requirement that the Department approve participation for an institution if the Department has not acted on a certification application within 12 months.

§ 668.13(c)(1). Adds the following additional events that lead to provisional certification:

The institution currently participates and is applying for a renewal of certification, and the Department determines it has jeopardized its ability to perform its financial responsibilities by not meeting the factors of financial responsibility under subpart L of 34 CFR part 668 or the standards of administrative capability under § 668.16;
The institution’s participation has been limited or suspended under subpart G of 34 CFR part 668, or it voluntarily enters into provisional certification;
The institution seeks to be reinstated to participate in a Title IV, HEA program after a prior period of participation in that program ended;
The Department has determined that the institution is at risk of closure; or
The institution is under the provisional certification alternative of subpart L of 34 CFR part 668.

§ 668.13(c)(2). Requires provisionally certified schools that have major consumer protection issues to recertify after three years.

§ 668.13(e). Establishes supplementary performance measures the Secretary may consider in determining whether to certify or condition the participation of the institution.

§ 668.14(a)(3). Establishes a requirement for an authorized representative of any entity with direct or indirect ownership of a private institution to sign a program participation agreement (PPA).

§ 668.14(b)(17). Adds all Federal agencies and State attorneys general to the list of entities that have the authority to share with each other and the Department any information pertaining to an institution's eligibility for or participation in the Title IV, HEA programs or any information on fraud, abuse, or other violations of law.

§ 668.14(b)(26)(ii). Limits the number of hours in a GE program to the greater of the required minimum number of clock hours, credit hours, or the equivalent required for training in the recognized occupation for which the program prepares the student, as established by the State in which the institution is located, or the required minimum number of hours required for training in another State, if the institution provides documentation of that State meeting one of three qualifying requirements to use a State in which the institution is not located that is substantiated by the certified public accountant who prepares the institution's compliance audit report as required under § 668.23. This provision does not apply to fully online programs or where the State entry level requirements include the completion of an associate or higher-level degree.

§ 668.14(b)(32)(i). Requires all programs that prepare students for occupations requiring programmatic accreditation or State licensure to meet those requirements in the State where the institution is located. If students are enrolled via distance education or correspondence, the program must meet the requirements for licensure or certification in the State where the student is located at the time of initial enrollment or in the State that a student attests that they intend to seek employment.

§ 668.14(b)(32)(ii). The institution must ensure that the program meets the licensure or certification requirements in the State so that a student who enrolls in the program and seeks employment in that State after completing the program, qualifies to take any licensure or certification exam that is needed for the student to practice or find employment in an occupation that the program prepares the student to enter.

Updates were also made to § 668.43(a)(5) to require all programs that prepare students for occupations requiring State licensure or certification to list all the States where the institution has determined, including as part of the institution's obligation under § 668.14(b)(32), that the program does and does not meet such requirements.

Note: As announced in Electronic Announcement GE-24-03, the Department understands that there may be circumstances outside of an institution’s control that may prevent compliance with the new requirements under § 668.14(b)(26) and § 668.14(b)(32) by July 1, 2024. However, the Department believes that most of those concerns and challenges will have been resolved or sufficiently mitigated by January 1, 2025. The Department has enforcement discretion with respect to an institution’s compliance with certain Title IV, HEA requirements. Given the concerns received from institutions and States, particularly for the period between July 1, 2024, and January 1, 2025, we will consider exercising this discretion before taking action regarding these two provisions.

§ 668.14(b)(32)(iii). Requires all programs to comply with all State laws related to closure of postsecondary institutions, including record retention, teach-out plans or agreements, and tuition recovery funds or surety bonds.

§ 668.14(b)(33). Provides that an institution may not withhold official transcripts or take any other negative action against a student related to a balance owed by the student that resulted from an error in the institution's administration of the Title IV, HEA programs, or any fraud or misconduct by the institution or its personnel.

§ 668.14(b)(34). Requires an institution to provide an official transcript that includes all the credit or clock hours for payment periods in which a student received Title IV, HEA funds and for which all institutional charges were paid at the time the request is made, including through a payment plan or other agreement to pay.

§ 668.14(b)(35). Prohibits institutions from maintaining policies and procedures to encourage, or that condition institutional aid or other student benefits in a manner that induces, a student to limit the amount of Federal student aid, including Federal loan funds, that the student receives, except that the institution may provide a scholarship on the condition that a student forgo borrowing if the amount of the scholarship provided is equal to or greater than the amount of Federal loan funds that the student agrees not to borrow.

§ 668.14(e). Establishes a non-exhaustive list of conditions that the Secretary may apply to provisionally certified institutions that include but are not limited to the following:

If the Department determines that an institution may be at risk of closure, the institution may be required to submit an acceptable teach-out plan or agreement to the Department, the State, and the institution's recognized accrediting agency; and submit to the Department an acceptable records retention plan that addresses Title IV, HEA records, including but not limited to student transcripts, and evidence that the plan has been implemented;
If the Department determines that an institution may be at risk of closure, that is teaching out or closing, or that is not financially responsible or administratively capable, the institution may be required to release holds on student transcripts;
Restrictions or limitations on the addition of new programs or locations;
Restrictions on the rate of growth, new enrollment of students, or Title IV, HEA volume in one or more programs;
Restrictions on the institution providing a teach-out on behalf of another institution;
Restrictions on the acquisition of another participating institution, which may include, in addition to any other required financial protection, the posting of financial protection in an amount determined by the Secretary but not less than 10 percent of the acquired institution's Title IV, HEA volume for the prior fiscal year;
Additional reporting requirements, which may include, but are not limited to, cash balances, an actual and protected cash flow statement, student rosters, student complaints, and interim unaudited financial statements;
Limitations on the institution entering into a written arrangement with another eligible institution or an ineligible institution or organization for that other eligible institution or ineligible institution or organization to provide between 25 and 50 percent of the institution's educational program under § 668.5(a) or (c); and
If an institution is found to have engaged in substantial misrepresentations to students (as defined in subpart F of 668), engaged in aggressive recruiting practices (as defined in subpart R of 668), or violated incentive compensation rules, it may be required to hire a monitor and to submit marketing and other recruiting materials ( e.g., call scripts) for the review and approval of the Department; and
Reporting to the Department, no later than 21 days after an institution receives from any local, State, Tribal, Federal, or foreign government or government entity a civil investigative demand, a subpoena, a request for documents or information, or other formal inquiry that is related to the marketing or recruitment of prospective students, the awarding of Federal financial aid for enrollment at the school, or the provision of educational services for which Federal aid is provided.

§ 668.14(f). Establishes conditions that may apply to institutions seeking to convert from a for-profit institution to a nonprofit institution following a change in ownership. The conditions are:

The institution must continue to meet the requirements under § 668.28(a) until the Department has accepted, reviewed, and approved the institution's financial statements and compliance audits that cover two complete consecutive fiscal years in which the institution meets the requirements of paragraph (b)(16) of this section under its new ownership, or until the Department approves the institution's request to convert to nonprofit status, whichever is later.
The institution must continue to meet the gainful employment requirements of subpart S of 34 CFR part 668 until the Department has accepted, reviewed, and approved the institution's financial statements and compliance audits that cover two complete consecutive fiscal years under its new ownership, or until the Department approves the institution's request to convert to nonprofit status, whichever is later.
The institution must submit regular and timely reports on agreements entered into with a former owner of the institution or a natural person or entity related to or affiliated with the former owner of the institution, as long as the institution participates as a nonprofit institution.
The institution may not advertise that it operates as a nonprofit institution for the purposes of Title IV, HEA until the Department approves the institution's request to convert to nonprofit status.

§ 668.14(g). Establishes conditions that apply to any nonprofit institution or institution seeking to convert to a nonprofit institution. Those conditions are:

The institution must submit reports on accreditor and State authorization agency actions and any new servicing agreements within 10 business days of receipt of the notice of the action or of entering into the agreement, as applicable, until the Department has accepted, reviewed, and approved the institution's financial statements and compliance audits that cover two complete consecutive fiscal years following initial certification, or two complete fiscal years after a change in ownership, or until the Department approves the institution's request to convert to nonprofit status, whichever is later.
The institution must submit a report and copy of the communications from the Internal Revenue Service (IRS) or any State or foreign country related to tax-exempt or nonprofit status within 10 business days of receipt as long as the institution participates as a nonprofit institution.

Ability To Benefit (§§ 668.2, 668.32, 668.156, and 668.157)

§ 668.2. Codifies the definition of “eligible career pathway program.” The HEA has provided since 2014 that a student who does not have a high school diploma or its recognized equivalent must be enrolled in an eligible career pathway program in order to qualify for one of the ATB alternatives for eligibility for Title IV, HEA program funds unless the student was enrolled in an eligible postsecondary program prior to July 1, 2012.

§ 668.32. Differentiates between the Title IV, HEA aid eligibility of non-high school graduates who enrolled in an eligible program prior to July 1, 2012, and those who enrolled after July 1, 2012.

§ 668.156. Made updates to the approved State process for ATB. Summary of the new requirements:

Separates the State process into an initial two-year period and a subsequent period for which the State may be approved for up to five years
Gives the State a one-year extension to their approval if no students are enrolled in an eligible career pathway program through the State process;
Requires, with respect to the State process, that: (1) The application contain a certification that each eligible career pathway program intended for use through the State process meets the definition of an “eligible career pathway program.” (2) The application describes the criteria used to determine student eligibility for participation in the State process. (3) The withdrawal rate for a postsecondary institution listed for the first time on a State's application does not exceed 33 percent. (4) Upon initial application the State will enroll no more than the greater of 25 students or one percent of enrollment of each participating institution;
Removes the support services requirements from the State process, including orientation, assessment of a student's existing capabilities, tutoring, assistance in developing educational goals, counseling, and follow up by teachers and counselors, which now duplicate the requirements in the definition of “eligible career pathway program;”
Amends the monitoring requirement to provide a participating institution that has failed to achieve the 85 percent success rate up to three years to achieve compliance;
Requires that the State prohibit an institution from participating in the State process for at least five years if the State terminates its participation;
Clarifies that a State is not subject to the success rate requirement at the time of the initial application but is subject to the requirement for the subsequent period, reduces the required success rate from 95 percent to 85 percent, requires the success rate to be calculated for each participating institution, and amends the comparison groups to include the concept of “eligible career pathway programs;”
Requires that States report information on race, gender, age, economic circumstances, education attainment, and such other information that the Secretary specifies in a notice published in the Federal Register;
Provides the Secretary with the ability to revise or terminate a State's participation in the State process. The Secretary may (1) approve a State process once for a two-year period if the State is not in compliance with the regulations, and (2) lower the success rate to 75 percent for two years if 50 percent of the participating institutions across the State do not meet the 85 percent success rate; and
Prohibits a State whose approval has been withdrawn by the Secretary from reapplying for five years.

§ 668.157(a). Clarifies the documentation requirements for eligible career pathway programs, as summarized below:

An institution must provide documentation that students enrolled in eligible career pathways programs are enrolled in or are receiving all three of the following elements simultaneously:

An eligible postsecondary program as defined in § 668.8;
Adult education and literacy activities under the Workforce Innovation and Opportunity Act as described in 34 CFR 463.30 that assist adults in attaining a secondary school diploma or its recognized equivalent and in the transition to postsecondary education and training; and
Workforce preparation activities as described in 34 CFR 463.34;

The institution must document how the program aligns with the skill needs of industries in the State or regional labor market in which the institution is located, based on research the institution has conducted, including: government reports identifying in-demand occupations in the State or regional labor market; surveys, interviews, meetings, or other information obtained by the institution regarding the hiring needs of employers in the State or regional labor market; and documentation that demonstrates direct engagement with industry.

In addition, the institution must document that: the skill needs identified in the institution’s research align with the specific coursework and postsecondary credential provided by the postsecondary program or other required training; the program provides academic and career counseling services that assist students in pursuing their credential and obtaining jobs aligned with skill needs, and identifies the individuals providing the career counseling services; the appropriate education is offered, concurrently with and in the same context as workforce preparation activities and training for a specific occupation or occupational cluster through an agreement, memorandum of understanding, or some other evidence of alignment of postsecondary and adult education providers that ensures the education is aligned with the students' career objectives; and the program is designed to lead to a valid high school diploma as defined in § 668.16(p) or its recognized equivalent.

§668.157(b). For a postsecondary institution that offered an eligible career pathway program prior to July 1, 2024, the institution must:

Apply to the Department via the Application to Participate in the Federal Student Financial Aid Programs (E-App) to have one of its career pathway programs determined to be eligible for Title IV, HEA program purposes; and
Affirm that any additional career pathway program offered by the institution meets the documentation standards in § 668.157(a).

Note: A postsecondary institution that offered an eligible career pathway program prior to July 1, 2024, will not be required to apply to the Department for approval of the program until the earlier of (1) any eligibility update the institution makes via the E-App that occurs on or after January 1, 2025, or (2) the institution’s next recertification date that occurs on or after January 1, 2025. The Department will provide additional reporting instructions in the future.

For a postsecondary institution that does not offer an eligible career pathway program prior to July 1, 2024, the institution must:

Apply to the Department via E-App to have its program determined to be an initial eligible career pathway program; and
Affirm that any subsequent career pathway program offered by the institution, initiated only after the approval of the initial eligible career pathway program, will meet the documentation standards in § 668.157(a).

Institutions may also be required to seek the approval of additional eligible career pathway programs offered by the institution beyond the first program for any reason, including but not limited to:

A rapid increase, as determined by the Secretary, of eligible career pathway programs at the institution; or
It has been determined that other eligible career pathway programs at the postsecondary institution do not meet the required documentation standards.

Please note: If your institution does not offer an eligible career pathway program prior to July 1, 2024, but would like to begin offering an eligible career pathway program on or after July 1, 2024, it must apply to the Department for approval of that program. Also, your institution may not offer any other eligible career pathway programs until the first is approved by the Department. This requirement is effective on July 1, 2024.

Contact Information

Please send questions regarding topics discussed in this Dear Colleague Letter through the Contact Customer Support link in Federal Student Aid’s Help Center. When submitting a question, please enter your name, email address, topic, and question. In addition, please indicate if your question relates to an open audit or program review. When selecting a topic, please select “Policy Guidance.”

Thank you for your continued support of the Title IV, HEA programs.

Sincerely,

Antoinette Flores
Deputy Assistant Secretary for Policy, Planning, and Innovation
Office of Postsecondary Education

(GEN-24-07) Implementation of Regulations Related to Financial Responsibility, Administrative Capability, Certification Procedures, and Ability to Benefit (ATB) (Updated August 23, 2024)