and oversight of a written default management literacy event or complete financial literacy plan, and /or accessing borrower information training or counseling to satisfy the contained in Department systems. exit loan counseling or other Title institution’s IV requirements. Delivery of Title IV Funds Cash management functions, including, but not Tier 2 arrangements as described in 34 CFR limited to: collecting student credit balance 668.164(f). disbursement preferences; providing terms and conditions and/or disclosure statements relative Direct ACH transactions between an to the disbursement preference options treasury account and an account institution’s available to a student or parent; collecting the designated by a student for receipt of Title IV financial account information necessary to funds. initiate an electronic funds transfer (EFT) or ACH of Title IV funds to a financial account Mailing of checks produced by the institution. designated by the student or parent for the receipt of those funds; notifying students of the disbursement of Title IV funds and/or the delivery of credit balance refunds; receiving and processing of electronic files (disbursement file, payment instructions, fund wire) to print and mail credit balance refund checks and/or deliver Title IV credit balance refunds to students or parents via ACH, debit card, or other electronic means. Also includes monitoring of undeliverable and/or checks or rejected ACH or EFT transactions. Providing Computer Services/Software and/or Maintenance of Records Collecting, reviewing, and/or maintaining Warehousing of records. supporting documentation necessary in person, by mail, or by electronic means to determine or Providing computer services or software, as support student eligibility determinations long as the provider is not responsible for and/or to disburse or deliver Title IV funds to a using the software for the student institution’s student or borrower. This includes information aid purposes. necessary to validate information reported on a FAFSA and/or to resolve conflicting The exclusion for computer student’s “providing information, as well as collecting student services or does not apply if the software” disbursement preference information for the provider performs any Title IV activity on delivery of Title IV credit balance refunds. behalf of the institution within the system through remote or automated processing and/or if the provider uses or has view or update
and oversight of a written default management plan, and /or accessing borrower information contained in Department systems. literacy event or complete financial literacy training or counseling to satisfy the institution’s exit loan counseling or other Title IV requirements. Delivery of Title IV Funds Cash management functions, including, but not limited to: collecting student credit balance disbursement preferences; providing terms and conditions and/or disclosure statements relative to the disbursement preference options available to a student or parent; collecting the financial account information necessary to initiate an electronic funds transfer (EFT) or ACH of Title IV funds to a financial account designated by the student or parent for the receipt of those funds; notifying students of the disbursement of Title IV funds and/or the delivery of credit balance refunds; receiving and processing of electronic files (disbursement file, payment instructions, fund wire) to print and mail credit balance refund checks and/or deliver Title IV credit balance refunds to students or parents via ACH, debit card, or other electronic means. Also includes monitoring of undeliverable and/or checks or rejected ACH or EFT transactions. Tier 2 arrangements as described in 34 CFR 668.164(f). Direct ACH transactions between an institution’s treasury account and an account designated by a student for receipt of Title IV funds. Mailing of checks produced by the institution. Providing Computer Services/Software and/or Maintenance of Records Collecting, reviewing, and/or maintaining supporting documentation necessary in person, by mail, or by electronic means to determine or support student eligibility determinations and/or to disburse or deliver Title IV funds to a student or borrower. This includes information necessary to validate information reported on a student’s FAFSA and/or to resolve conflicting information, as well as collecting student disbursement preference information for the delivery of Title IV credit balance refunds. Warehousing of records. Providing computer services or software, as long as the provider is not responsible for using the software for the institution’s student aid purposes. The exclusion for “providing computer services or software” does not apply if the provider performs any Title IV activity on behalf of the institution within the system through remote or automated processing and/or if the provider uses or has view or update
GEN1615AttachQA.docx