Marcia Boyd, Alicia Harris, and James McMillan | Dec. 2015

U.S. Department of Education

2015 FSA Training Conference for Financial Aid Professionals

Title IV Administration is a Team Sport

Session 46

Agenda

Session OverviewTitle IV Administration: Roles and ResponsibilitiesPolicy Changes and Title IV ComplianceCampus CommunicationHelpful ResourcesQuestions and Answers

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Administrative Capability

To participate in any Title IV program, a school must demonstrate that it is administratively capable of managing its basic operations.

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The Network of Responsibilities

Managing FSA program funds is a school-wide responsibility.

FSA program funds are provided to the school, and all offices at a school must work together to ensure successful program management.

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Primary Responsible OfficesFSA program management generally takes place in three functional areas:

Office of the Chief Executive (CEO, President, Chancellor, etc.)

Chief Financial Aid Officer

Chief Business Officer

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President/CEO’s Office

Ultimate responsibility for a school’s FSA programs

Authority and responsibility delegated to other offices

Strong leadership fosters an environment to promote an effective and responsive financial aid program

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Financial Aid Office

Assigned most of the responsibility for administering FSA programs

Limited role in the institution’s fiscal operation

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Financial Aid OfficeResponsibilities commonly assigned to a school’s Financial Aid office Advise students and parents about financial aid

Provide students with consumer information

Determine students’ eligibility

Make financial aid awards

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Financial Aid Office Coordinate activities with other school offices

Interact with various outside groups, agencies, associations, and individuals

Monitor students’ (SAP)

Maintain records related to the administration of Title IV

Communicate regulations and changes to institutional staff with Title IV responsibilities

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Financial Aid Office Keep current on changes in laws and regulations to ensure

that the school remains in compliance

Manage and report on activities that involve financial aid funds

Calculate the return of Title IV funds

Determine eligibility for post-withdrawal disbursements

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Financial Aid Office

Reconcile student financial aid data provided to the business office Payments Made FSA Funds Returned Expenditures Reported

Report changes to ED effecting eligibility status

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Financial Aid OfficePerform (limited) fiscal operations

Authorizing payment of FSA funds to student

Authorizing return of Title IV funds

Notifying student/ED of overpayments

Coordinating submission of FISAP

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Business Office Most FSA-related fiscal operations

Provides critical services managing both federal and nonfederal financial aid programs

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Business Office

Administers the accounting, recordkeeping, and reporting functions

Strong internal controls and sound business and financial management practices

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Business officeCoordinate activities and cooperate with the Financial Aid Office in:

Projecting cash needs Processing cancellations and institutional refunds Obtaining authorization to pay FSA funds Being aware of the changes in FSA laws and regulations Submitting accurate and timely reports Reconciling Title IV Funds

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Business Office Maintain a system of internal controls

Ensure that the functions of authorizing and disbursing remain separate

Maintain records consistent with government auditing standards

Maintain records to ensure a clear audit trail

Draw down and return FSA funds to program accounts

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Business Office Disburse funds to eligible students

Maintain accurate student account records

Collect Federal Perkins Loans

Calculate the return of Title IV funds

Establish and implement the institution’s refund policy

Notify students of pending loan disbursements and right to cancel

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Business Office Return of Title IV funds

Assist in reporting FSA expenditures

Reconcile accounts Cash between school records and bank Federal funds between bank statements and federally reported balances Internal reconciliation

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Business Office Assist in completing FISAP

Maintain a cash management system

Provide general stewardship for federal funds

Prepare for and participate reviews and audits

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Business Office Separation of Duties

Duties are divided among different individuals to reduce the risk of error or inappropriate action

Responsibility for related transactions should be divided among employees so that one employee’s work serves as a check on the work of other employees

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The Network of ResponsibilitiesAcademic AffairsDegree Programs

Certificate Programs

Gainful Employment Programs

Student Retention

Consumer Information

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The Network of ResponsibilitiesAdmissions Initial Student and Parent Contact

Consumer Information

Provides Financial Aid Information

Collects Critical Student Eligibility Data

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The Network of ResponsibilitiesRegistrarConsumer Information

Satisfactory Academic Progress

Enrollment Reporting

Gainful Employment Reporting

Determining Academic Outcomes

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The Network of ResponsibilitiesStudent AffairsConsumer Information

Retention

Student Conduct

Counseling Requirements

Outreach/Awareness Activities

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The Network of ResponsibilitiesCampus SecurityCampus Safety/Emergency Management

Clery Act

Violence Against Women Act (VAWA)

Annual Security Report

Consumer Information

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The Network of Responsibilities

Information TechnologyData Security

Coordinated Campus-Wide Information System

Student Information System

Data Driven Reporting

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The Network of Responsibilities

Institutional Research

Consumer Information

Integrated Postsecondary Education Data System (IPEDS) Reporting

College Navigator – College Search Tool

IPEDS Data Center – Data for Researchers and Analysts

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Policy Changes and Compliance Adding New Programs

Increasing/Decreasing Program Length

Changing Admission Standards

Determining Non-Attenders

Processing Administrative Withdrawals

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Keys to Success: Three C’s

Institutional success requires an effective communications, collaboration, and cooperation network on the campus between all offices involved in the delivery of Title IV funds.

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Three C’s NetworkCommunications between the financial aid office and the following offices:

Fiscal Office/Student Accounts Registrar Admissions Information Technology Student Housing Academics

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Communications

Communication is a shared institutional responsibility for effective Title IV program management.

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Collaboration

Communication is a shared institutional responsibility, therefore you must collaborate your efforts with all the offices involved in the delivery of Title IV funds.

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CooperationCooperation between the financial aid office and the following offices:

President/CEO’s Office Fiscal Office/Student Accounts Registrar Admissions Academic Affairs Information Technology Student Affairs Campus Security Institutional Research

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SummaryIn Conclusion:

Managing FSA Funds is a school-wide responsibility

All offices must work together to ensure successful program management

Primary responsibility President/CEO, CFO, and the FAD

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Helpful Resources 2015-16 Federal Student Aid Handbook: Appendix B-A School’s

Financial Management Systems

Consumer Information: http://ifap.ed.gov/qahome/qaassessments/consumerinformation.html

Campus Security: http://www2.ed.gov/admins/lead/safety/campus.html

IPEDS Reporting: https://nces.ed.gov/ipeds/Home/ReportYourData

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QUESTIONS?

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