Change in EFT Procedures

    Utah Higher Education Assistance Authority (UHEAA) has revised the Electronic Fund Transfer (EFT) procedures to acknowledge that a school may receive the Common Line Disbursement Roster electronically or by other means, as requested by the school.

    Schools will remain responsible for disbursing funds in compliance with Common Manual policies and all federal regulations. Schools and lenders remain responsible for compliance with Common Manual policies and all federal regulations regarding the retention of financial records that reflect HEA, Title IV program transactions. Such regulatory compliance will continue to be monitored during site reviews by UHEAA, independent financial audits, and Department of Education reviews.

    A copy of the revised UHEAA EFT processing instructions may be obtained by contacting Stacey Fabros at 801-321-7211. Any questions concerning this UHEAA Bulletin may be directed to the Policy and Training Department at (801) 321-7166 or by e-mail at cjudd@utahsbr.edu.