Session FF-02
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Transcript of Session FF-02
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Session FF-02
The Big Picture
Michael RobertsAngela Smith
U.S. Department of Education
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Eligible InstitutionTypes of Institutional Control
Institution of Higher Education
Proprietary Institution of Higher Education
Postsecondary Vocational Institution
A public or private nonprofit educational institution located in a state
A private, for-profit educational institution located in a state
A public or private nonprofit educational institution located in a state
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Eligible InstitutionEligibility Requirements
• Authorized by the state• Accredited by accrediting agency
recognized by the Department of Education (ED)
• Offers at least one eligible program of study
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Eligible ProgramsInstitution of Higher Education
• Associate, bachelor’s, graduate or professional degree, or
• At least a 2-year program acceptable for full credit toward a bachelor’s degree, or
• At least a 1-year training program that leads to a degree or certificate (or other educational credential) and prepares students for gainful employment in a recognized occupation
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Eligible ProgramsProprietary Institution of Higher Education and Postsecondary Vocational Institution
Programs must provide training that prepares student for gainful employment in arecognized occupation and contain a minimum of:
1. 15 weeks instruction; 600 clock hours, 16 semester/trimester hours, or 24 quarter hours
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Eligible ProgramsProprietary Institution of Higher Education and Postsecondary Vocational Institution
2. 10 weeks of instruction; 300 clock hours, 8 semester/trimester hours, or 12 quarter hours
Must be a graduate/professional program or admit only students with equivalent of an associate degree
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Eligible ProgramsProprietary Institution of Higher Education and Postsecondary Vocational Institution
3. 10 weeks instruction; 300-599 clock hours (eligible for only (eligible for FFEL and Direct Loans Must have been in existence for at
least one year Must have at least a 70% completion
rate and 70% placement rate in related job fields
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General Participation Requirements
• Voter registrationHEA 487(a)(23) and 668.14(d)
• Constitution DayFR May 24, 2005 and May 31, 2005
• Availability of GED program668.14(b)(13)
• Drug-Free Workplace and drug abuse prevention program668.14(c)
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General Participation Requirements• Civil Rights and Privacy requirements
99.31(a)(13) and (14)• Notify ED of contracts with servicers
668.25(e)• Incentive compensation
668.14(b)(22)
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General Participation Requirements
• Consumer Information Annual individual notice to students
containing list of consumer information and how to obtain it (includes Campus Security, Equity in Athletic Disclosure, Family Educational Rights and Privacy, Student Right to Know and general information about school)
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Financial Responsibility
ED reviews financial statements and systems and determines school’s ability to
Properly administer the FSA programs Meet all of its financial obligations Provide the services described in official
publications
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Administrative Capability
• Outlines school’s ability to administer the Title IV Programs in accordance with the law and regulations
• Reviewed by ED through program reviews and annual compliance audits
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Electronic Application for Approval to Participate
www.eligcert.ed.gov or E-App• Used to apply for designation as an eligible
institution, initial participation, recertification, reinstatement, change in ownership, or to update a current approval. Updates include changes such as, but not limited to, name or address change, new location or program, increased level of offering, change of officials, or mailing address for publications.
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Schools’ Contract With ED
Program Participation Agreement (PPA) School agrees to comply with law,
regulations and policies governing Title IV aid programs
• Eligibility & Certification Approval Report (ECAR) details school’s programs of study approved for Title IV funding
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Policy Development
• Develop policies for processing student files Need to review on an annual basis Update as necessary
• Keep policies in a Policy and Procedure manual Organized for easy access Available to all staff members for easy
consultation
Policiesand
Procedures
SFA
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What Policies & Procedures?
• Refund policies• Title IV academic year definition• Cost(s) of attendance• Packaging policy• Satisfactory academic progress• Verification• Loan confirmation and counseling• Record retention
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How Do Schools Receive Title IV Funding?
• Establish required bank account(s) for receiving and maintaining funds
• Establish an account in the Department of Education’s G5 system for requesting funds and reporting expenditures
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G5
• G5 is the electronic system for grants management and payments. It is replacing the Grants Administration and Payment System (GAPS)
• www.g5.gov
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Electronic Participation
• All schools must participate in the Student Aid Internet Gateway (SAIG) A web-based vehicle through which
schools exchange information electronically with ED
All schools have an electronic mailbox or destination point on the SAIG
• All schools must have internet access
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Systems You Need
• FAA Access to CPS Online Input FAFSA’s View ISIR’s Correct ISIR’s Add school code to ISIR’s
• COD Submit award and disbursement data for
Pell Grant, ACG, National SMART Grant, TEACH Grant, and Direct Loan
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Systems You Need
• NSLDS user ID and passwords View student financial aid history Enrollment reporting Transfer Monitoring
• e-Campus-Based system FSEOG & FWS authorizations FISAP
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Determine Student Eligibility• Review FAFSA/ISIR
Resolve database match issues•Social Security Number•Citizenship•Selective Service•NSLDS•Veterans Administration
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Determine Student Eligibility
• Review FAFSA/ISIR Verification
•Process by which certain required data reported on the FAFSA is reviewed for accuracy and completeness
Resolve conflicting information•Includes information held by other
offices on campus
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Calculate Need
COA-EFC=Need• Cost of Attendance
Estimate of student’s educational expenses
May have different costs for different programs of study ort categories of students
• Use EFC appropriate to number of months in enrollment period
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Package
• Determine Pell Grant eligibility• Determine eligibility for other aid
Federal, state, institutional• Look at student’s outside resources
Must be included as estimated financial assistance
• Entrance counseling for loan borrowers
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Disbursement• Responsibility of Business Office • Money is drawn from G5• Title IV aid is used to pay tuition, fees, and
contracted room and board Payment of other educational expenses
requires written authorization from student
• Disbursement may be credit to student’s account or check issued to student
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Disbursement• Title IV aid disbursed by payment period
over length of academic year Payment periods differ depending on
structure of program of study•Standard term•Non-standard term•Non-term credit hour•Clock hour
• Disbursement requires notifications to student borrowers
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Student Exits
• Exit counseling for loan borrowers• Withdrawals
R2T4•Calculation•Make required refunds in timely manner•Notification and reporting of
overpayments
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Reporting To ED
• E-App• Annual compliance audit• NSLDS• COD• FISAP• Campus Security
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Contact Information
Your feedback and comments are appreciated.
Michael RobertsTraining [email protected]
Angela SmithTraining [email protected]