Student Assistance General Provisions - Subpart K - Cash Management

The Department of Education (the Department) amended the Student Assistance General Provisions regulations issued under the Higher Education Act of 1965, as amended (HEA), to implement the changes made to the Student Assistance General Provisions regulations Subpart K Cash Management 668.164 Disbursing funds. These regulations are intended to ensure students and parents have convenient access to their Title IV, HEA program funds, do not incur unreasonable and uncommon financial account fees on these title IV funds and are not led to believe that they must open a particular financial account to receive their federal student aid. This request is for an extension of the information collection for the requirements that are contained in the regulations 668.164 Disbursing funds. The regulations require that an institution that makes direct payments to a student or parent by electronic funds transfer (EFT) and that chooses to enter into an arrangement described in 668.164(e) or (f), including an institution that uses a third-party servicer to make those payments, must establish a selection process under which the student chooses one of several options for receiving those Title IV, HEA fund payments. There has been no change to the regulations.

The latest form for Student Assistance General Provisions - Subpart K - Cash Management expires 2028-01-31 and can be found here.

Student Assistance General Provisions - Subpart K - Cash Management

Federal Enterprise Architecture: Education - Higher Education