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FSA’s no. 1 task was functional, control an incredible number of FAFSAs and you may countless give and you may mortgage money

FSA’s no. 1 task was functional, control an incredible number of FAFSAs and you may countless give and you may mortgage money

Studies Service Overseeing and Administration

It’s tricky the Institution regarding Degree could have been depending entirely to the Internal revenue service letters to determine a college’s eligibility for federal school funding. The agency’s own legislation need a more strict remark, requiring colleges one to want to be treated since the nonprofit to exhibit, as well as the Irs designation, you to definitely “zero a portion of the internet income” of school “gurus one individual stockholder or private,” and that the school is licensed due to the fact an effective nonprofit institution because of the new claims where it works. forty-two