ED Confirms Bookstore Arrangements
November 28, 2012
The Department of Education issued a Dear Colleague letter (GEN-1221) on November 28 confirming the common practice of allowing Title IV student aid to be used to cover bookstore charges at the campus-affiliated bookstore, regardless of whether the store is owned and operated by the institution. Confusion had arisen last spring about this during a webcast offered by ED for campus business officers and bursars.
The letter acknowledges the many different models for campus/bookstore relationships. It states that as long as the institution has a contract or other formal legal agreement with the entity operating the bookstore and has obtained proper authorization from the student, the institution may credit the student account with Title IV funds to cover bookstore charges.
The letter goes on to remind institutions about three separate issues: the inclusion of contracted bookstores in campus-crime statistics; when charges for books and supplies are considered "institutional charges" for purposes of the return of Title IV funds; and requirements for disclosure of book prices mandated by the Higher Education Opportunity Act.
Vice President, Regulatory Affairs
- ED Launches New College Scorecard
- NACUBO Members Convey Legislative Priorities on Capitol Hill
- Panelists Detail Complex Campus Sexual Assault Regulations at Hearing
- 2015 Tax Forum
October 25-27, 2015
- WEBCAST: A Financially Sustainable Approach to Innovate Academic Programs
Wednesday, October 21, 2015 1:00PM ET
- ON-DEMAND: Legislative Lunchcast: A 30-Minute Washington Update from NACUBO
- ON-DEMAND: Developing Your Campus Distance Learning Strategy
- ON-DEMAND: VIRTUAL: 2015 Annual Meeting
- ON-DEMAND: NACUBO Live!: CBO Speaks
- ON-DEMAND: A Just-in-Time Webcast to Explain FASB’s NFP Reporting Proposal
- ON-DEMAND: Decoding ED's Cash Management Proposal
- A Guide to College and University Budgeting: Foundations for Institutional Effectiveness, 4th ed. - by Larry Goldstein
- NACUBO's Guide to Unitizing Investment Pools - by Mary S. Wheeler
- Managing and Collecting Student Accounts and Loans - by David R. Glezerman and Dennis DeSantis