As things move quickly in Washington, DC, NACUBO is your constant advocate in action. NACUBO On Your Side covers important legislative and agency activity NACUBO staff are tracking, what we’re currently advocating for, and how you can take action with us.
Here are the issues we are tracking and advocating for this week.
Perkins Cash on Hand Reporting Deadline Approaching
On November 14, the Office of Federal Student Aid published a reminder that institutions participating in the Perkins Loan Program—including those in the liquidation process—must update and submit a portion of the Fiscal Operations Report for 2022-23 and Application to Participate for 2024-25 (FISAP) by December 15. The amount to be reported is the cash on hand as of October 31, 2023.
Reminder: Federal Student Aid Training Conference Begins This Week
The Department of Education’s annual FSA Training Conference kicks off on November 28. This free, online event features keynote addresses from ED leadership, as well as general forums and breakout sessions, many of which are important to campus business officers.
IRS Proposes Rules on Energy Credit
A new Notice of Proposed Rulemaking (NPRM) addresses issues related to the energy investment credit, including the definition of energy property; changes to the rules on the timing of the credit related to when the energy property is placed in service; the rules related to the bonus credit amount if prevailing wage and apprenticeship requirements are met; and updates to the types of energy property eligible for the credit. Comments on the NPRM are due on January 22, 2024, and a public hearing on the proposed regulations has been scheduled for February 20, 2024, at 10 a.m.
SCOTUS Declines to Hear Case on Build America Bonds
The Supreme Court of the United States has declined to hear Indiana Municipal Power Agency v. United States, a case in which utilities providers asked the federal government to make good on a statutory obligation to refund 35 percent of interest payments on Build America Bonds. On August 16, NACUBO joined an amicus brief in support of the utilities’ position.
International Enrollment Booms, Surpasses Pre-Pandemic Levels
The Institute of International Education’s latest Open Doors report found the number of international students increased 12 percent in 2022–23 compared to the previous academic year. While China remains the top country of origin for international students, the report highlights growing enrollments among students from India and countries in sub-Saharan Africa.
NACUBO On Your Side: November 14–20, 2023