On August 18, 2016, the U.S. Department of Education (the Department) released a question and answer sheet for the most commonly asked questions received regarding third party servicers following the Department’s January 9, 2015 Dear Colleague Letter (GEN 15-01). The questions and answers range from the most basic, such as “What is a third-party servicer?” to more complex questions such as “Does an institution need to require a third-party servicer to sign a Certification By Lower Tier Contractor form?” The Q&A also contains helpful side-by-side charts to distinguish between the functions and services provided by third-party servicers versus non-third-party servicers. Notably, the guidance devotes several questions and answers to the use and disclosure of personally identifiable information (PII) from education records, and the importance of adherence to Family Educational Rights and Privacy Act’s (FERPA) recordkeeping requirements. If you have not had a chance to look it over and your institution uses third-party servicers for administration of Title IV funds, click here to be sure you are on the right track.