Guidance Issued on "Late" Late Disbursements of Title IV Aid
April 21, 2005
The Department of Education issued guidance detailing procedures that institutions must follow to request approval to make disbursements of Title IV aid more than 120 days after a student ceases to meet enrollment eligibility requirements. Such disbursements are sometimes referred to as "late" late disbursements to distinguish them from late disbursements made within 120 days after a student is no longer enrolled (which institutions may make without prior approval from ED). ED will only grant approval if the reason the late disbursement was not made within 120 days is not the fault of the student (or the parent in the case of a PLUS loan).
The Dear Colleague letter (GEN-05-07) requires the institution or its third-party servicer to fax the request to ED for approval of a "late" late disbursement. Lenders, guaranty agencies, or other parties may not submit the request regardless of the reason the funds were not disbursed. The letter details the information to be provided. ED will respond to the institution by e-mail, normally approving or denying the request within 10 days after it passes initial screening.
ED urges institutions to develop procedures to track disbursements and improve communication among the financial aid, business, and registrar's offices to ensure that late disbursements are made in a timely manner.
- Tuition Discount Rates Reach New Record Level in 2015-16
- ED Offers Supplemental Cash Management Guidance
- Federal Agencies Release Guidance on Civil Rights Protections for Transgender Students
- 2016 CAO and CBO Collaborations
August 1-2, 2016
- 2016 Planning and Budgeting Forum
September 19-20, 2016
- 2016 Managerial Analysis and Decision Support
November 17-18, 2016
- ON-DEMAND: The Clery Act: Strategic Planning to Mitigate Institutional Risk
- ON-DEMAND: Title IX: Key Issues Surrounding Institutional Compliance
- ON-DEMAND: Containing Cost and Risk with Renewables – the Power Purchase Agreement Story
- ON-DEMAND: NACUBO Live! Higher Education Accounting Forum
- ON-DEMAND: Are Hedge Funds and Private Equity Right for You? An Analysis of Alternative Investments
- ON-DEMAND: Responsibility Center Management: Two Different Perspectives