Skip to content Menu

Institutions participating in the Title IV student aid programs must regularly reconcile disbursement and related cash transactions, both internally (between financial and student aid records) and externally (between institutional and Department of Education records). On January 2, ED issued an electronic announcement reminding institutions of their reconciliation responsibilities relative to the Pell Grant program, which included a Q&A with more specific information.

ED recommends that institutions reconcile Pell disbursements at least monthly. Monthly reconciliations are required by regulation for the Direct Loan program. Close coordination between the financial aid and bursar’s offices will ensure discrepancies are identified and corrected in a timely manner.

Resources

ED provides numerous tools to assist institutions with reconciliation, some of which are noted in the Q&A. In addition, a session on Title IV Reconciliation recorded at the ED’s annual Federal Student Aid Conference is available for viewing on demand. You can also download the related PowerPoint slides.

Got Problems?

NACUBO believes regular Title IV reconciliations are vital for institutions to maintain compliance, meet end-of-year deadlines, and ensure program integrity. If business officers need additional tools or have encountered obstacles that make regular reconciliation difficult, NACUBO is interested in hearing from you. 

Contact

Liz Clark

Vice President, Policy and Research

202.861.2553

Contact

Bryan Dickson

Director, Student Financial Services and Educational Programs

202.861.2505


Related Content

NACUBO Updates Student Agreement Language to Address Assessment of Collection Fees

NACUBO’s updated advisory, Best Practices for Student Financial Responsibility Agreements, includes model language for the agreements and addresses court decisions affecting the ability of an institution to recover costs associated with collections, among other topics of interest to business officers.

ED Shares Details on New Borrower Defense Policy

When considering approved borrower defense to repayment claims, the Department of Education will now apply a presumption of full relief as the starting point and will reduce the amount of relief offered, if warranted, by evidence provided by a school, a borrower, or other sources.

2021 NACUBO Student Financial Services Benchmarking Report Released

New data indicate electronic student payments and credit balance refunds have continued to increase during the COVID-19 pandemic. The report also provides benchmarking data on several other measures, including: student account and loan receivables; third-party payments; staffing; and expenditures for student financial services.