Archive for the ‘Spark Notes’ Category

November 18, 2016 · by mlivolsi · Spark Notes

Prepared by:  Harrison Wadsworth (hwadsworth@wpllc.net)   November 18, 2016 The Internal Revenue Service (IRS) has announced that it will delay the enforcement of a change to how institutions of higher education report tuition and fees on the 1098-T forms they provide to students and to the IRS so students/taxpayers can claim the American Opportunity Tax…

October 31, 2016 · by mlivolsi · Spark Notes

Prepared by:  Harrison Wadsworth (hwadsworth@wpllc.net)   October 28, 2016 The Department of Education (ED) last night announced the publication of the final regulations expanding the definition of “defense to repayment” (DTR) where Direct Loan borrowers can avoid repaying a federal student loan if they can show their school misrepresented its offerings, falsely certified the student’s…

October 20, 2016 · by mlivolsi · Spark Notes

October 19, 2016 From: Wes Huffman Based on Section 466 (c) of the Higher Education Act, the Department of Education is requiring institutions of higher education to return the federal share of any Excess Liquid Capital (ELC) from their Federal Perkins Loan Revolving Fund.  ELC is the amount of the fund’s “Cash on Hand” that…

September 23, 2016 · by mlivolsi · Spark Notes

September 19, 2016 Prepared by:  Hannah Allen (hallen@wpllc.net)    On Tuesday, the House of Representatives passed the Strengthening Career and Technical Education for the 21st Century Act, commonly referred to as “Perkins CTE,” by a vote of 405-5, and the Senate Committee on Health, Education, Labor, and Pensions has a meeting set for Sept. 21…

August 15, 2016 · by mlivolsi · Spark Notes

Prepared by:  Wes Huffman (whuffman@wpllc.net)   The Federal Communications released final rules implementing a change to the Telephone Consumer Protection Act (TCPA) to provide an exemption to calls from automated dialing systems to mobile telephones “made solely to collect a debt owed to or guaranteed by the United States” without prior express consent.  The new…

July 28, 2016 · by mlivolsi · Spark Notes

July 28, 2016 Prepared by:  Wes Huffman (whuffman@wpllc.net)   Today, the Consumer Financial Protection Bureau (CFPB) released what officials are describing as an outline of forthcoming regulations on the Federal Debt Collection Practices Act (FDCPA).  The Bureau still must meet with a Small Business Review Panel and indicates it remains open to discussions with all…

May 19, 2016 · by mlivolsi · Spark Notes

May 19, 2016 Prepared by:  Wes Huffman (whuffman@wpllc.net) The Senate Committee on Commerce, Science and Transportation convened a hearing May 18 to examine the Telephone Consumer Protection Act, a law designed to protect consumers from unwanted calls which was written some 25 years ago.  A full summary is included as a special attachment with this…

April 3, 2016 · by mlivolsi · Spark Notes

April 1, 2016 Prepared by:  Wes Huffman (whuffman@wpllc.net) The Perkins Loan Extension Act revived the Perkins Loan Program, but it also added new disclosure requirements.  After receiving the initial guidance from the Department of Education in the form of DCL-GEN-16-05, COHEAO immediately formed a workgroup among industry leaders from both schools and their vendor partners…

March 10, 2016 · by mlivolsi · Spark Notes

Prepared by:  Wes Huffman (whuffman@wpllc.net) March 10, 2016 A bipartisan coalition of Representatives is circulating a letter to the Appropriations Committee in support of the Campus-Based Aid Programs, including Perkins Loans.  The lawmakers heading up this effort are seeking signatures by March 17, so contact your Representatives as soon as possible to urge them to…

February 17, 2016 · by mlivolsi · Spark Notes

Prepared by: Wes Huffman (whufffman@wpllc.net) Today, the Department of Education released the long awaited guidance on the extension of the Perkins Loan Program. The Dear Colleague Letter is labeled DCLGen-16-05 and it supersedes DCL GEN 15-03. The full text of the letter is available online: http://goo.gl/Mt4vvc The Department did not provide model disclosures with the…

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