Virtual Annual Convention 2020

Important Changes to Financial Responsibility Standards Under New BDR Regulations 
​Session Track: Government Relations
  • Christopher DeLuca, Rouse Frets White Goss Gentile Rhodes, P.C., Attorney, chris@delucalawllc.com
  • Eileen Keller, Salmon Sims Thomas & Associates PLLC, CPA, Partner, ekeller@sstcpa.com​ 

The new Borrower Defense to Repayment Regulations scheduled to become effective July 1, 2020, include significant changes to the HEA financial responsibility standards. In addition to implementing new reporting requirements, the regulations make important changes to the treatment of long-term debt and lease accounting in the composite score calculation. Attorney Christopher DeLuca, a member of both the 2016 and 2018 BDR negotiated rulemaking committees, and Eileen Keller, CPA, will explain these important changes and their potential impact on an institution’s composite score calculation.