News

The Department of Education has announced that it will not enforce its requirement that students must be Title IV-eligible to receive CARES Act grants, although ED stated that it still expects recipients to be eligible for Title IV. ED also published guidance expanding regulatory flexibilities, and its Office for Civil Rights issued a Q&A reminding schools of their responsibility to comply with Title IX rules and disability laws.

Senate Republicans have said it’s too soon for another large COVID-19 relief bill, and other pressures stall lawmaker negotiations.

FASB officially approved the release of an Accounting Standards Update that postpones implementation dates by one year for leases for all independent institutions and revenue recognition for independent institutions without public or conduit debt.

In this edition: A new COVID-19 relief bill has passed in the House but isn’t expected to pass in the Senate, the IRS clarifies an international student grant aid question, and more.

In response to the pandemic, the Governmental Accounting Standards Board has issued a new statement that extends implementation for most major standards by one year. Recently issued Implementation Guide 2020-1 reinforces delayed effectives dates and provides updated guidance.

The 2020 Sustainable Energy in America Factbook indicates progress in energy efficiency and renewable energy over the last decade.

Following advocacy from NACUBO, the IRS has issued guidance that emergency grants provided to students under the CARES Act are not taxable. Meanwhile, the Department of Education is requiring institutions to post emergency grant disclosures to their websites no later than 30 days after receiving the funds.

Despite requests from the higher education community to delay the release of new Title IX regulations amidst the coronavirus pandemic, the Department of Education published its final rule, with a compliance deadline of August 14.

Federal Work-Study students will not count toward a college’s total number of employees for purposes of Paycheck Protection Program eligibility and subsequent loan amounts, among other positive developments for employers.

The IRS permits electronic signatures, ED expands Second Chance Pell, and more.