Cyber Security Laws and the Financial Aid Office

Institutions participating in Title IV programs are considered financial institutions covered under the Gramm Leach Bliley Act (GLBA) of 1999. In recent years, the Department of Education has included compliance with GLBA in the Program Participation Agreement. Institutions with a presence in the European Union are also subject to the European Union’s General Data Protection Regulation (GDPR) law. These laws and regulations prescribe very specific personnel, policy, disclosure, and documentation requirements regarding student privacy and data security, with the accompanying sanctions and fines. This session will review these requirements and provide compliance strategies for financial aid professionals.