Federal Financial Aid Changes for 2021–2022

In an effort to ease the financial aid process, the Department of Education is currently making continuous improvements. Below is a summary of these recent changes. You may check this page every so often as new changes will be added as given.

Resuming Federal Student Loan Repayment

Last update: Thursday, August 25, 2022

The COVID-19 emergency relief for Federal student loans ends December 31, 2022. Borrowers will be transitioning back into repayment after this date. Visit the Federal Student Aid website for additional information and suggested steps of preparation. If you don’t know who your loan servicer is and cannot log into studentaid.gov to find out, you can call 1-800-4-FED-AID for assistance. Your loan servicer is your best resource during this transition.

Annual Student Loan Acknowledgement

Last update: Wednesday, March 9, 2022

It has been announced that the Annual Student Loan Acknowledgement will not be required for disbursement of Federal loan as previously announced for 2022–2023. It will only be used as an education tool moving forward.

Student Veterans Will Have Interest on Student Loans Retroactively Waiver

Last update: Friday, August 27, 2021

Thousands of current and former active-duty military service members will retroactively see their student loan interest waived, the Department of Education announced in mid August. Through data matching with the Department of Defense, service members will not be required to take any action to receive the recently announced benefit. Prior to this automation for the benefit and provide additional information confirming their eligibility. Read the National Association of Student Financial Aid Administrators' (NASFAA) article Over 47,000 Student Veterans Will Have Interest on Student Loans Retroactively Waived for more information.

Student Aid Report (SAR) Redesign

Last update: Friday, August 27, 2021

The Student Aid Report has been divided into manageable portions so that users can view different sections one at a time. The user will be able to access the SAR as before through the My FAFSA view. When they arrive on the view they will be taken directly to the Processing Results section, when they will see a navigation pane to the left of their screen where they can select which section of the SAW they would like to view.

Additionally, the Corrections History can also be found as an additional option on the navigation pane. They will no longer be able to access the view directly from the My FAFSA view, and they will need to navigate to the SAR to see their previous transactions.

"Add a School" flow in Correction Entry

Last update: Friday, August 27, 2021

Users who are eligible to complete a FAFSA Correction will now have the opportunity to "add a School" to their application if their only direct change is to add more schools to their FAFSA. The user will be able to select "Update List of Colleges" from the My FAFSA view and will be taken into a flow when they can add or remove colleges on their application. The user will then be able to submit these changes without signing their Correction application.

Student Loans Debt Relief for Those with Total and Permanent Disability

Last update: Friday, August 27, 2021

Over 323,000 borrowers who have a total and permanent disability (TPD) will receive more than $5.8 billion in automatic student loan discharges due to a new regulation announced today by the U.S. Department of Education. The change will apply to borrowers who are identified through an existing data match with the Social Security Administration (SSA). It will begin with the September quarterly match with SSA. The Department is also announcing two other policy items related to TPD today. Learn more about the Student Loans Debt Relief for Those with Total and Permanent Disability.

Selective Service Registration

Last update: Monday, July 26, 2021.

As of June 17, 2021 students who were assigned male at birth are no longer required to register for the Selective Service in order to be eligible for financial aid funds. While still included in the FAFSA, this question will no longer be used in determining eligibility for financial aid funds. This question will be removed from the FAFSA in future years.

Student Aid Eligibility Worksheet

Last update: Monday, July 26, 2021.

When completing the FAFSA, students must indicate whether or not they had been convicted for the possession or sale of illegal drugs that occurred while they were receiving federal student aid (grants, work-study, and/or loans). Beginning June 17, 2021 while still included in the FAFSA, this question will no longer be used in determining eligibility for financial aid funds.

Maximum Eligibility Period for Federal Direct Subsidized Loans

Last update: Monday, July 26, 2021.

Part of the FAFSA Simplification Act repeals the 150% Subsidized Usage Limit Applies (SULA) requirements. The repeal is effective for all Direct Loans first disbursed on or after July 1, 2021. It is not limited to new borrowers; it is loan-specific. Thus, for the 2021–2022 academic year, it is possible for a student that has reached the 150% Subsidized Usage Limit, to regain Federal Subsidized Loan eligibility for the 2021–2022 academic year as long as the student has not reached the $23,000 total borrowing limit for Federal Subsidized Loans. Subsidized Usage Limit Applies still applies to Direct Subsidized Loans first disbursed before July 1, 2021, but the U.S. Department of Education will retroactively restore the subsidy and remove accrued interest on the older loans, even if those borrowers don't borrow again.

Return of Title IV Funds

Last update: Monday, July 26, 2021.

A student earns aid solely based on the length of time he/she attends. Until a student has passed the 60% point in the term, only a portion of the student’s disbursed aid has been earned. If a student completely withdraws or is expelled prior to the 60% point, then the Return of Title IV funds (R2T4) policy applies.

For students taking classes that are less than 16 weeks in length (referred to as a module), it is possible that withdrawing after completing a less than 16 weeks class will trigger this refund policy. For students who are enrolled in modules, a Return of Title IV Funds must be completed if the student does not meet one of the conditions below.

Successful completion (earning a passing grade) of 49% or more of the student's scheduled days for the term.

Successful completion of at least half-time (6 credits or more) enrollment for the term.

For more information about Return of Title IV Funds, please view the 2021–2022 Financial Aid Handbook [pdf].

Contact Information

Financial Aid

Hawkeye Center 118
800-670-4769 ext.4020
319-209-9239 (text only)
319-296-4495 (fax)
Email Financial Aid

Regular Hours — Fall 2022

Mon–Friday 8:00am–4:30pm

Schedule an appointment

Federal Student Aid. An office of the U.S. department of education. Proud Sponsor or the American mind.

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