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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