Session 12

2

Then: Standing in line at the bank

3

Today: Drive Thru ATMs

4

Then: The PC work environment

5

Today: The PC on-the-go

6

Then: “Portable Music”

7

Today: As portable as a computer file

8

Then: Printing Today: Printing

9

“We’ve been wandering for 40 years. But would

he ever ask for directions?”

Then: Directions

Now: Directions

10

Then: The FSA Assessments

11

Now: The FSA Assessments

12

Session Objectives – To Demonstrate:

• The new Federal Student Aid Assessments

• How the Assessments can assist with financial aid

operations, audits and program reviews

• How to navigate the Assessments

• A Team Building Tool

• How a school can use the Assessments to resolve

Title IV deficiencies and improve its policies and

procedures manual

13

What are the Federal Student Aid Assessments?

• Tools to prevent and/or

identify compliance issues

• A way to establish

management

enhancements to correct

problemsTools f

or Schools

Federal Student Aid Assessments

14

Why would you use the Federal Student Aid Assessments?

• To ensure compliance

• To prepare for an Audit

• To prepare for a program review

• To correct deficiencies and to ensure findings do

not recur

• To develop or update policies and procedures

manual

• Train new staff

15

• IFAP

http://ifap.ed.gov

• School Portalhttp://Federal Student Aid4schools.ed.gov

Where to find the Federal Student Aid Assessments

16

The Federal Student Aid Assessments – Re-Design

17

Why would you use the Federal Student Aid Assessments?

18

Learn to Navigate the AssessmentsInstructor Demonstration

http://ifap.ed.gov

19

Importance of Team Building

“It’s a fact that people working as a

team can achieve better results than

individuals working alone.”

20

Team Activity

• When I say go, list 10 body parts that have only 3

letters in them. You can’t use slang.

21

Use the Team Building Tool

www.teambuildinginc.com

http://www.teambuildinginc.com

22

Case Study findings

1. Return of Funds Made Late to Title IV Account

2. Satisfactory Academic Progress Policy Not

Adequately

Developed / Impaired Administrative Capability

3. Verification Incomplete

4. Title IV Accounts Not Reconciled

23

Finding 1 : Refund errors – incorrect calculation; refunds made late; or refunds not made

• Incorrect calculation

– Aid that could have been disbursed

– Pro-rated institutional charges

– Payment period or period of enrollment

• Late determination of student withdrawal

– No shows: students who never start

– Students who vanish: no earned grades at the end of the

term. Did the student finish the term?

http://ifap.ed.gov

24

Finding 2: SAP Policy Not Adequately Developed / Impaired Administrative Capability

• Qualitative component

• Quantitative component

– How much work needs to be completed in each

increment

• Percentage of work attempted (credit hours)

• Based on calendar time

– Relates to maximum time to complete

http://ifap.ed.gov

25

Finding 2: SAP Policy Not Adequately Developed / Impaired Administrative Capability

• Maximum time to complete

• Must evaluate all periods of attendance

• Stopping out does not restore progress

• Complete records of all academic work

attempted must be maintained

• Document implementation

http://ifap.ed.gov

26

Finding: 3 – Verification Incomplete

• Verification requirements specified in regulation

• Verification documentation may reveal conflicting

data. This may not be a required verification item, but

must be resolved

• Mind the details

• If you have a verification finding, try to figure out why

• Review requirements regularly

http://ifap.ed.gov

27

Finding: 4 – Title IV Accounts Not Reconciled

• Reconciling the federal funds bank account

does not complete the reconciliation process

• Compare Financial Aid Office, Business Office

and ED (COD) records

• Role of servicers

http://ifap.ed.gov

28

Summary

• If we can find it – so can you

• Use the Assessments to fix problems before they

are identified through an audit or a program

review

• Team Approach to the assessments is critical

• Use the Management Enhancement as a corrective

action plan and track progress

29

We appreciate your feedback and comments.

• Holly Langer-Evans

617 289 0136

• Byron Scott

312-886-8734

• Holly.Langer-Evans@ed.gov

• Byron.Scott@ed.gov