Blanket Consortial Agreements

Definition

A general, blanket agreement is a written agreement that covers a group or class of students attending the same institution, and it can be either consortium or contractual. An agreement is contractual when at least one of the parties is not eligible for Title IV Financial Aid. [Source: NASFAA Webinar | 09.24.2014]

Advantages

The advantage of the general, blanket agreement is that because individual forms are not required for each student, it reduces the potential of audit exceptions.

Uses

Schools may use a general, blanket agreement to cover students that are participating in a consortium, and under this type of agreement, an additional individual agreement for each student is not required. [Source: NASFAA Webinar | 09.24.2014]