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KIRKSVILLE, MO. -- The Kirksville Area Technical Center received some big news from the federal government.

Congressman Blaine Luetkemeyer has helped the center secure a two-year extension, which prevents it from switching-over its accounting procedures.

Since 1997, the Department of Education has required all post secondary education institutions that apply for Title IV funds to switch from a cash accounting method to an accrual method of accounting.

"All school districts in the state of Missouri receiving Title IV funds, which include Pell grants and student loans, were being required to switch from a cash basis of accounting to an accrual basis, which would've been a very costly switch as well as a lot of extra work," said Sheryl Ferguson, the Director of the Kirksville Area Technical Center.

The difference between the two methods has to do with the timing of when transactions are credited or debited from accounts.   Ferguson said the center has been receiving the extension for the past 10 years. She shared with KTVO how significant the extension is for her students. 

"It means that we're good for two more years and our students will be eligible to receive Pell grants and direct student loans to attend our classes. If we had not received those extensions, we would not be able to offer Title IV and that would've been devastating for our students. "

The two-year extension also applies to the career and technical centers in Eldon, Hannibal, Macon, Mexico, Moberly, Pike County, St. Charles, and Washington.

Rep. Luetkemeyer said he will continue to push for a full waiver from the regulation.