U.S. Department of Education Issues New Certification Procedures for Federal Financial Aid
Paul G. Lannon – Maddie Fenton – Jean Donohue
November 13, 2023
The U.S. Department of Education has announced new regulations for colleges and universities that cover four broad areas: financial responsibility, administrative capability, certification and ability-to-benefit.
The new requirements will take effect on July 1, 2024, and are intended to better protect students and taxpayers from the negative effects of sudden college closures.
This Holland & Knight alert covering the certification procedures is the final in a three-part series discussing these new regulations and their implications.
The U.S. Department of Education (Department) issued final rules on Oct. 24, 2023, imposing new conditions that higher education institutions must satisfy to participate in federal student aid programs under Title IV of the Higher Education Act. Supplemental certification requirements are intended to strengthen the Department’s ability to evaluate institutions at risk of closure and mitigate the resultant risks posed to students and taxpayers. The regulations take effect on July 1, 2024.
