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Since 2013, Direct Loan statutory requirements have limited a first-time borrower’s eligibility for Direct Subsidized Loans to a period not to exceed 150% of the length of the borrower’s educational program. In addition, under certain conditions, the requirements have caused first-time borrowers who have met or exceeded the 150% limit to lose the interest subsidy on their Direct Subsidized Loans. The FAFSA Simplification Act, part of the Consolidated Appropriations Act, 2021 (Public Law 116-260) provides for a repeal of the 150% Subsidized Usage Limit Applies (SULA) requirements. Final regulations for the repeal of the SULA requirements were published in the Federal Register on June 14, 2021.

Application Processing refers to the process through which the Free Application for Federal Student Aid (FAFSA) is evaluated and results are returned to students and institutions. The Central Processing System (CPS) is the processing system for FAFSA data.

The Campus-Based Programs include the Federal Perkins Loan, Federal Work-Study, and Federal Supplemental Educational Opportunity Grant programs. These programs are administered through the Common Origination and Disbursement (COD) System.

On October 30, 2015, the Department published final program integrity and improvement regulations relating to cash management. This page provides the most updated information pertaining to requirements under the October 30, 2015 cash management regulations.

The Common Origination and Disbursement (COD) System is the system through which Iraq and Afghanistan Service Grant, Federal Pell Grant (Pell Grant),Teacher Education Assistance for College and Higher Education (TEACH) Grant, and William D. Ford Federal Direct Loan (Direct Loan) awards are processed. The COD System is also used by schools to complete Campus-Based processes.

Welcome to the Default Management page. This page integrates the publication of the official cohort default rates (CDR) while providing cohort default-related information, references, and resources for these rates in one location.

Federal Student Aid is committed to assisting schools with efforts that educate students about their loan repayment obligation, encourage successful repayment, and address delinquent repayment when it occurs. By employing evaluation, prevention, and outreach activities, schools can work in advance to reduce the risk of default by their students. Ultimately, this intervention will assist schools in managing their cohort default rates.

Beginning in May 2018, the U.S. Department of Education (ED) will give Title IV schools access to the U.S. Department of Homeland Security (DHS) Systematic Alien Verification for Entitlements (SAVE) system. This access is being provided to schools for the purpose of submitting third step verification requests to obtain the immigration status for determining student eligibility for Title IV aid. Increasing electronic access for Title IV schools to the SAVE system is a collaborative effort by ED and DHS, designed to modernize the third step verification process. DHS’ existing paper-based process will be discontinued on May 1, 2018.

In December 2023, we implemented expanded FSA Partner Connect features that introduced new online versions of the Application for Approval to Participate in the Federal Student Financial Assistance Programs (E-App) and the Third-Party Servicer Inquiry Form. Stakeholders should bookmark this page for regular status updates related to the new E-App and Third-Party Servicer Inquiry Form.

The Free Application for Federal Student Aid (FAFSA) is the financial aid application completed each year by students and parents who apply for federal student aid. The Student Aid Report (SAR) is the official paper document printed by the Central Processing System (CPS) and mailed to the student. The SAR contains processing results, including the expected family contribution (EFC), and can be used by the student or parent to make corrections.

This page serves as a repository for all information, guidance, and training related to implementation of the FAFSA Simplification Act and the Free Application for Federal Student Aid (FAFSA®) portion of the Fostering Undergraduate Talent by Unlocking Resources for Education (FUTURE) Act. 

Together, these laws represent a significant overhaul of federal student aid including a relaunch of the FAFSA form, changes to need analysis, the creation of a direct data exchange with the Internal Revenue Service (IRS) to facilitate completing the FAFSA form, and updates to many policies and procedures for schools that participate in the Title IV programs.

The Financial Partners page promotes a greater program integrity through innovation technical development, oversight, technical assistance, partnership and community outreach programs by working in partnership with Guaranty Agencies, Lenders, Servicers, Trade Association, Trustees, Schools and Secondary Markets to ensure access for students to federal student loans.

This page provides the most updated information pertaining to the Financial Value Transparency and Gainful Employment (FVT/GE) Final Regulations which were published October 10, 2023. These regulations aim to bring back accountability metrics with changes that are intended to make available data more meaningful to students and to the general public.

This page serves as a repository for information, guidance, and training related to FVT/GE. Archived information from the 2014-17 Regulations is also available for historical reference.

Authorized personnel at eligible schools located outside the United States (commonly referred to as foreign schools) use functionality within the U.S. Department of Education's (the Department's) Common Origination and Disbursement (COD) System to process William D. Ford Federal Direct Loan (Direct Loan) Program loans for eligible U.S. students who attend their schools. Before a foreign school may begin participating in the Direct Loan Program, it must apply to participate, receive a countersigned Program Participation Agreement and Eligibility and Certification Report, request COD System and Web site access, and complete funding related actions.

The Common Origination and Disbursement (COD) System is the system through which Iraq and Afghanistan Service Grant, Federal Pell Grant (Pell Grant), Teacher Education Assistance for College and Higher Education (TEACH) Grant, and William D. Ford Federal Direct Loan (Direct Loan) awards are processed. The COD System is also used by schools to complete Campus-Based processes.

From fiscal year 1978 through fiscal year 1998, the Health Education Assistance Loan (HEAL) Program insured loans made by participating lenders to eligible graduate students in schools of medicine, osteopathy, dentistry, veterinary medicine, optometry, podiatry, public health, pharmacy, chiropractic, or in programs in health administration and clinical psychology. It is no longer possible to obtain a new HEAL Program loan. The making of new HEAL Program loans was discontinued on September 30, 1998.

This page provides links to various interest rate information related to Federal Family Education Loan (FFEL) Program loans and Health Education Assistance Loan (HEAL) Program loans, as well as quarterly FFEL Special Allowance Rates.

Federal Student Aid recognizes the important work members of the community do in assisting consumers with the servicing and collection of their federally-owned loans. Federally-owned student loans include Direct Loan Program loans, TEACH Grants converted to Direct Unsubsidized Loans, FFEL Program loans purchased by the U.S. Department of Education (the Department), and Federal Perkins Loan Program loans assigned to the Department.

The office of Federal Student Aid (FSA), within the U.S. Department of Education, has designated the Minority-Serving and Under Resourced Schools Division (MSURSD) as the entity to provide special support and assistance to identified institutions that are currently participating in the Title IV Federal Student Aid Programs. MSURSD is housed in FSA’s Customer Experience Office/School Experience Group. Prior to fall 2010, the group was known as Special Initiatives Services.

The U.S. Department of Education is committed to assisting students enrolled in postsecondary education who have been impacted by hurricanes and natural disasters. This page provides links to information we have posted related to the impact of the natural disasters on students, parents, student loan borrowers, colleges and universities, and financial institutions that participate in the federal student assistance programs.

The Department of Education is pleased to provide various Federal Student Aid (FSA) presentations in audio and video format. Transcripts of the presentations are provided as well. Click on the MP3, WMA, or MP4 file below or the transcript to listen or view the presentation. Some of the presentations are offered in a slideshow format (Microsoft Power Point), Portable Document Format (PDF), or may have handouts available. If additional publications are available, click on the hyperlinked presentation title in the Presentation Title field listed below.

The FAFSA Simplification Act passed on Dec. 27, 2020 as part of the Consolidated Appropriations Act, 2021 made important changes to the Higher Education Act of 1965 (HEA) and the Free Application for Federal Student Aid (FAFSA^®), including the restoration of Pell Grant for students incarcerated in federal or state penal institutions and students who are subject to involuntary commitments. The law ties Pell Grant Eligibility to enrollment in an eligible prison education program (PEP). In addition, it creates a new definition of a “prison education program” and adds specific requirements for approval, reporting, oversight, and evaluation of such programs. The provisions of the FAFSA Simplification Act related to incarcerated students, have an effective date of July 1, 2023. This page serves as a repository for all information, guidance, and training related to implementation of this new provision.

Title 1, Part E of the Higher Education Act of 1965, as amended (HEA), requires lenders that make private education loans and institutions involved in certain arrangements regarding those loans to make specific disclosures to borrowers of those loans, report related information to the U.S. Department of Education (the Department), and comply with critical protections and prohibitions against conflicts of interest. This page serves as a repository for information, guidance, and training related to the required private education loan reporting.

Section 117 of the Higher Education Act of 1965 (HEA) requires institutions of higher education that offer a bachelor’s degree or higher, or that offer a transfer program of not less than two years that is acceptable for credit towards a bachelor’s degree, and receive federal financial assistance to disclose semiannually to the U.S. Department of Education any gifts received from and contracts with a foreign source that, alone or combined, are valued at $250,000 or more in a calendar year. The statute also requires institutions to report information when owned or controlled by a foreign source.

Over 30 years ago, Congress enacted these disclosure requirements to promote public transparency about the role of foreign funding in U.S. higher education.

This page serves as a repository for all relevant data, information, guidance, and training related to the required foreign gift and contract reporting.