Strict Reporting Requirements and Taxability Information for Emergency Financial Aid Grants to Students
May 7, 2020
Here are two breaking developments we do not want you to miss. On May 6, 2020, the same day the U.S. Department of Education’s Office for Civil Rights issued its sweeping Title IX Final Rule, the Department’s Office of Federal Student Aid announced that all recipients of funding from the Higher Education Emergency Relief Fund (HEERF) under the Coronavirus Aid, Relief, and Economic Security (CARES) Act must post on their primary websites specific details about how they allocated funding for emergency grants to students. This posting must be done within 30 days of receipt of the funds from the federal government.