Posted Date:October 30, 2015
|Author:||Lynn Mahaffie, Deputy Assistant Secretary, Policy, Planning and Innovation, Office of Postsecondary Education|
Subject: Final Regulations for Program Integrity and Improvement--Cash Management, Clock-to-Credit-Hour Conversion, and Repeat Coursework
Today, the Department published in the Federal Register final regulations establishing tougher standards and greater transparency surrounding agreements between postsecondary institutions and companies in the rapidly expanding college financial products marketplace. The final regulations also amend regulations unrelated to cash management to provide for more equitable treatment of student aid recipients. The rule will become effective July 1, 2016.
These final regulations are the second rules to result from the program integrity and improvement negotiated rulemaking that occurred in early 2014; the first rules were published on October 23, 2014, which strengthened and improved the administration of the Federal Direct PLUS Loan Program.