Federal Student Aid Assessments

Holly Langer-Evans and Michael Cagle

Session Objectives

• The new Federal Student Aid Assessments

• How the Assessments can assist with financial aid operations, audits and program reviews

• How to navigate the Assessments

• How a school can use the Assessments to resolve Title IV deficiencies and improve its policies and procedures manual

• A Team Building Tool

To Demonstrate:

What are the Federal Student Aid Assessments

Prevent non-compliance

Identify compliance issues

Establish management enhancements to correct problems

Tools to:

Why use the Federal Student Aid Assessments?

• Ensure compliance

• Prepare for an Audit

• Prepare for a program review

• Correct deficiencies and to ensure findings do not recur

• Develop or update policies and procedures manual

• Train new staff

• IFAP

http://ifap.ed.gov

Where to find the Federal Student Aid Assessments

•School Portal

http://Federal Student Aid4schools.ed.gov

Where to find the Federal Student Aid Assessments

The Redesign of the Assessments

HERA

New Look and Feel

Introduce the New Policy and Procedure Assessment

The Federal Student Aid Assessments – Re-Design

Why would you use the Federal Student Aid Assessments?

Policies & Procedures Assessment

• Policies and Procedures At A Glance

• Minimum Requirements

• Regulations

• Activities

Potential Audit Findings

1. Satisfactory Academic Progress Policy Not Adequately Developed / Impaired Administrative Capability

2. Verification Incomplete

3. Title IV Accounts Not Reconciled

Finding 1: SAP Policy Not Adequately Developed / Impaired Administrative Capability

•Review SAP Assessment – Students

•Policies and Procedures Assessment

•SAP At a Glance

•Activity 1 and Activity 2

http://ifap.ed.gov

Learn to Navigate the AssessmentsInstructor Demonstration

Finding 1: SAP Policy Not Adequately Developed / Impaired Administrative Capability

• File Review Activities

SAP Activity 1: SAP Not Met File Review Worksheet

SAP Activity 2: SAP Met File Review Worksheet

Learn to Navigate the AssessmentsInstructor Demonstration

Finding: 2 – Verification Incomplete

• Review Verification Assessment - Students

• Policies and Procedures

• Activity 4: Resolving Conflicting Data

• Activity 5: Professional Judgment

• Verification Comparison Charts

http://ifap.ed.gov

Learn to Navigate the AssessmentsInstructor Demonstration

Finding: 3 – Title IV Accounts Not Reconciled

• Select Managing Funds – Fiscal Management

• Select Activity 1 – Reconciliation Worksheets

• Review Year End and Monthly Worksheet

http://ifap.ed.gov

Management Enhancement

Identify compliance issues

Assign the issue for correction

Design a Corrective Action Plan

An Action Plan To:

Effective Practices

• Innovation – Effective Practices

• Opportunity to review a successful practice reported by one of your colleagues

• Opportunity to report a successful practice to the Department.

Importance of Team Building

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

Team Activity

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

Answer Key

Lip Jaw

Hip Rib

Gum Leg

Ear Arm

Eye Toe

Use the Team Building Tool

www.teambuildinginc.com

http://www.teambuildinginc.com

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

Questions