Session 12
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Session 12. Then: Standing in line at the bank. Today: Drive Thru ATMs. Then: The PC work environment. Today: The PC on-the-go. Then: “Portable Music”. Today: As portable as a computer file. Then: Printing Today: Printing. Then: Directions. Now: Directions.

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Session 12

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Session 12

Session 12


Then standing in line at the bank

Then: Standing in line at the bank


Today drive thru atms

Today: Drive Thru ATMs


Then the pc work environment

Then: The PC work environment


Today the pc on the go

Today: The PC on-the-go


Then portable music

Then: “Portable Music”


Session 12

Today: As portable as a computer file


Then printing today printing

Then: Printing Today: Printing


Session 12

Then: Directions

Now: Directions

“We’ve been wandering for 40 years. But would he ever ask for directions?”


Session 12

Then: The FSA Assessments


Now the fsa assessments

Now: The FSA Assessments


Session objectives to demonstrate

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


What are the federal student aid assessments

What are the Federal Student Aid Assessments?

  • Tools to prevent and/or identify compliance issues

  • A way to establish management enhancements to correct problems

Federal Student Aid Assessments

Tools for Schools


Why would you use the federal student aid assessments

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


Where to find the federal student aid assessments

  • IFAP

    http://ifap.ed.gov

  • School Portal

    http://Federal Student Aid4schools.ed.gov

Where to find the Federal Student Aid Assessments


The federal student aid assessments re design

The Federal Student Aid Assessments – Re-Design


Why would you use the federal student aid assessments1

Why would you use the Federal Student Aid Assessments?


Learn to navigate the assessments instructor demonstration

Learn to Navigate the AssessmentsInstructor Demonstration

http://ifap.ed.gov


Importance of team building

Importance of Team Building

“It’s a fact that people working as a team can achieve better results than individuals working alone.”


Team activity

Team Activity

  • When I say go, list 10 body parts that have only 3 letters in them. You can’t use slang.


Use the team building tool

Use the Team Building Tool

http://www.teambuildinginc.com

www.teambuildinginc.com


Case study findings

Case Study findings

  • Return of Funds Made Late to Title IV Account

  • Satisfactory Academic Progress Policy Not Adequately Developed / Impaired Administrative Capability

  • Verification Incomplete

  • Title IV Accounts Not Reconciled


Finding 1 refund errors incorrect calculation refunds made late or refunds not made

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


Finding 2 sap policy not adequately developed impaired administrative capability

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


Finding 2 sap policy not adequately developed impaired administrative capability1

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


Finding 3 verification incomplete

Finding: 3 – Verification Incomplete

http://ifap.ed.gov

  • 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


Finding 4 title iv accounts not reconciled

Finding: 4 – Title IV Accounts Not Reconciled

http://ifap.ed.gov

  • 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


Summary

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


We appreciate your feedback and comments

We appreciate your feedback and comments.

Holly Langer-Evans617 289 0136

Byron Scott312-886-8734

[email protected]

[email protected]


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