Session 12
description
Transcript of Session 12
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