Cases & Developments

U.S. Department of Education, Office of Postsecondary Education Final Regulations on Financial Responsibility, Administrative Capability, Certification Procedures, and Ability to Benefit (ATB). Among key provisions, the new regulations require that institutions provide adequate financial aid counseling and information, including cost of attendance information; new mandatory and discretionary triggers to give the Department with notice when an institution might not be able to be able to meet its financial responsibilities; a requirement that institutions certify that in each State where they enroll students, including through distance programs, that they meet applicable accreditation and licensure requirements and comply with State laws related to closures; a requirement that institutions provide, upon a student’s request, an official transcript reflecting all credit or clock hours for periods in which a student received Title IV funds; and a requirement that institutions provide adequate career services and clinical or externship opportunities. The Department also released a Fact Sheet on the new regulations, which become effective on July 1, 2024. Update: The Department of Education published the final regulations in the Federal Register on October 31, 2023.  

U.S. Department of Education, Office of Postsecondary Education Final Regulations on Financial Responsibility, Administrative Capability, Certification Procedures, and Ability to Benefit (ATB). Among key provisions, the new regulations impose new mandatory and discretionary triggers to allow the Department notice when an institution might not be able to be able to meet its financial responsibilities, and also require that institutions (1) provide adequate financial aid counseling and information, including cost of attendance information; (2) certify that they meet applicable accreditation and licensure requirements and comply with State laws related to closures for each State where they enroll students, including through distance programs; (3) provide an official transcript reflecting all credit or clock hours for periods in which the student received Title IV funds, when requested by a student; and (4) provide adequate career services and clinical or externship opportunities. The Department also released a Fact Sheet on the new regulations. The new regulations become effective on July 1, 2024.