HEA 101: FAQs and Discussion
Have a question about HEA? NAICU staff can help. Send questions to hea101@naicu.edu.
Q: I noticed that many of the provisions in the law are already in effect, and colleges are supposed to make a "good faith effort" to comply until regulations are issued by the Department of Education. What do you mean by "good faith effort"?
A: A "good faith effort" means that a college takes reasonable efforts to read and understand the meaning of the law and to comply with its requirements. For example, presidents who use NAICU's President's Checklist and require campus officials to start to read and implement the law's new requirements have already taken an important step towards making a good faith effort.
Q: I am confused by all the new Student Loan Sunshine rules. Can a local bank official still serve on our college's Board of Trustees, and can a college president serve on a bank board?
A: Yes, bankers can serve on college boards and college presidents can serve on bank boards. Those who work in college financial aid offices have more stringent requirements.
Q: How does one go about “demonstrating and certifying” to the Secretary of Education that it has not used any funds under the Higher Education Act for lobbying or securing earmarks? Where might we find additional resources on this topic?
A; The Department of Education has included this certification in the general program participation agreement that institutions must sign in order to participate in the Title IV student financial aid programs. An institution does not have to make a separate certification beyond this. For additional information, see page 2-47 of Volume 2--School Eligibility and Operations, 2009-2010-of the Federal Student Aid Handbook.