Higher Education Industry Update

Higher Education Industry Update

Like most things in life, change is inevitable. Whether the change is good or bad it cannot be avoided. Policy changes and reforms have been coming out of Washington D.C. recently and to help you discern what is going on we’ve rounded up policy changes, tax reform and other legislative updates impacting higher education.

  1. The Perkins Loan Program Expires: The expiration of the Perkins Loan Program has been a topic in the higher education world for some time now. Despite support from both sides of Congress, the program ended September 30. The Department of Education provided guidance on how the institutions can end their program and return the money back to the Department through their wind-down letter.
  2. The IRS Releases its Work Plan for Fiscal Year 2018: As the IRS reflects on their accomplishments and successes of 2017, it also released its plan for 2018. The plan provides information about the upcoming focuses and changes, some of which will impact colleges and universities. Some of their initiatives will focus on worker classification and fringe benefits, as well.
  3. Tax Reform Keeps Rolling: The White House and Republican Congressional released their revised tax plan, but with contention on Capitol Hill it’s unsure if the plan will pass. If the bill was to pass, the tax reform process would be expedited. 
  4. The Government Continues to Discuss Fiscal Year 2018 Budget: Discussions concerning funding for National Health Institutes, Work-Study Programs, and Pell Grants are topics of conversation for the coming months, as an extension on the federal debt limit ends early spring.

Here at CBE Companies, we’re here to help higher education institutions navigate the tumultuous government landscape. For questions or to learn more about our higher education collections solutions, contact us here