Subject: URGENT: Federal Government Shutdown

Good Morning, All:

As you are probably aware, effective Saturday morning at 12:01 am the Federal Government shut down. Please be advised that COD and G5 will continue to operate during the shutdown, at least in the short-term. Pell and Direct Loans are forward-funded, meaning that the money being spent today (2017-18) was appropriated in the FY17 Federal Budget. In addition, a large portion of the funding for these programs is considered “mandatory” funding and will remain allocated to the programs that are required by existing law.

Should the shut-down continue more than a week, the Department will bring back a number of employees from furlough and the programs could continue as normal for some time.

A vote is anticipated at 12:00 noon today that could pass the budget in the Senate, thus ending the shut-down.

Update: The US Federal Government Shut-down has ended, although with the current state of our Government it is important to keep up to date with how the US Government’s decisions affect federal aid programs, such as Pell Grants, Student Loans, and Campus-Based Programs.Our partners at Educational Compliance Management (ECM) keep up to date with the changing financial aid regulations of the Department of Education.

At DiamondSIS we make sure to keep you up to date with anything that may affect our clients, whether it be cybersecurity with DiamondMSS, admission with DiamondADM, we keep you up to date with our system and the current laws and rules that may affect you.

Thank you!

COMPLIANCE TEAM

Compliance
Educational Compliance Management, Inc.
190 Margaretta Avenue | Massapequa, NY 11758

Compliance@ecmfinaid.com
www.ecmfinaid.com

2018-03-02T20:20:59+00:00

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