|NACUBO Offers Debit Card Best Practices|
In response to the growth of campus-based banking options for students in recent years as well as growing public interest in student debit card options, NACUBO advises all institutions to consider its recommended best practices when offering debit card options to students.
DoD Releases Revised MOU for Institutions Participating in TA ProgramThe Department of Defense recently released a revised version of the Memorandum of Understanding that institutions are required to sign in order to continue to participate in the Tuition Assistance Program. The deadline for new signatories is March 1.
Treasury Department Reports College Education Boosts CompetitivenessOn December 13, 2012, the U.S. Department of the Treasury, together with the U.S. Department of Education, issued a report on the economic imperative of investing in education.
VA Sending Debts to Treasury Department for CollectionThe Department of Veterans Affairs has started referring debts related to tuition and fee payments made to schools under the new GI Bill to the Treasury Offset Program. Subsequent payments to the institution from any federal agency, with a few exceptions, are then reduced to cover the debt.
VA Plans No Changes to Refund Policy At a recent conference, a Department of Veterans Affairs official confirmed that institutions will not have to return VA funds in a manner similar to ED’s R2T4 rules in order to comply with President Obama’s Executive Order establishing principles of excellence for military and veterans’ education.
Doctoral Degree Recipients Rise While Postgraduate Employment Prospects FallU.S. colleges and universities awarded 49,010 research doctoral degrees in 2011, a 2 percent increase over the number conferred in 2010, according to the National Science Foundation. However, the proportion of new doctoral degree recipients with jobs or postgraduate commitments immediately after graduation fell.
Reminder: Complete GASB 33 Survey by Year End
Preparers of public college and university financial statements, please take a few moments to complete a survey designed by GASB to assess the effectiveness of Statement No. 33. The statement addresses when to recognize assets and liabilities associated with intergovernmental grants and other transactions in which there is not an exchange of equal value. The deadline for responding to the survey is December 31.
Student Attainment Is Higher than Previously ReportedA new report from the National Student Clearinghouse Research Center shows that completion rates rise when students pursuing non-traditional routes to graduation are included. The report sheds more light on the mobility and success of students.
HHS Proposes Regulations Implementing Affordable Care ActThe Department of Health and Human Services recently released three proposed regulations implementing various provisions of the Affordable Care Act affecting small and individual plans. Student health insurance plans offered by colleges and universities are considered a type of individual plan. Comments on the proposals are due before the end of the year.
Federal Auditing Information Service (FAIS)
Financial Accounting and Reporting Manual (FARM)