WVU-P students will receive their financial aid

Each public institution of higher education in West Virginia received notification last week from the U.S. Department of Education (DOE) regarding Heightened Cash Monitoring 1 (HCM1) requirements that resulted from West Virginia's late submission of audit findings to the U.S. Department of Education. The HCM1 mandates colleges to pay out funds to students who qualify for federal financial aid refund BEFORE the colleges receive funds from the DOE, whereas previously the DOE provided federal funds up front for that purpose. Making these advanced payments will now require colleges to absorb these costs and await federal reimbursement, despite the pressure this places on cash reserves and operating budget.

West Virginia University at Parkersburg is fortunate to have the operating budget and cash resources to absorb these costs on a short-term basis. Thus, students who currently qualify for financial aid and have their paperwork completed WILL receive their aid in a timely manner.

I am pleased to hear that Governor Justice and Senators Manchin and Capito are working hard to resolve this issue. The Higher Education Policy Commission and the Community and Technical College System are also coordinating a response and working to find both short- and long-term solutions. While their leadership and guidance are crucial, it is imperative that a resolution is reached that prohibits harm to higher education in our state.

Again, because of the financial wellness of the College, the students of West Virginia University at Parkersburg will receive their financial aid in a timely manner. However, the additional processes required by Heightened Cash Monitoring represent an undeserved reaction by the DOE to take punitive measures against our state institutions of higher education. At a time when higher education has already been tapped to help balance the state budget through cuts, additional barriers do not contribute to maintaining efficient operations, providing quality education, and improving West Virginia's workforce. Whining and excuses from bureaucrats are a waste of time. What matters is taking care of our students.