# Presentation: 297654

**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”**

## Today: As portable as a computer file

## Then: Printing		      Today: Printing

**Then: Printing****	****	****      Today: Printing**

## Then: Directions

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

**Then: Directions**

**Now: Directions**

## Then: The FSA Assessments

**Then: The FSA Assessments**

## 	      Now: The FSA Assessments

## 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?

- Tools to prevent and/or identify compliance issues
- A way to establish management enhancements to correct problems

- Tools for Schools

- 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

**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

## Why would you use the Federal Student Aid Assessments?

## Learn to Navigate the AssessmentsInstructor Demonstration

- http://ifap.ed.gov

## 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.

## Use the Team Building Tool

- www.teambuildinginc.com

- http://www.teambuildinginc.com

## 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

**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 

**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 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	

**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

## 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

## 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.

- Holly Langer-Evans617 289 0136
- Byron Scott312-886-8734

- Holly.Langer-Evans@ed.gov
- Byron.Scott@ed.gov