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Keep the Money Flowing

Learn how to evaluate and improve your institution's financial aid processing system to ensure the continuous flow of Title IV program funds. This comprehensive guide covers FSA assessments, program reviews, customer surveys, and more. Discover the requirements for an effective aid operation, including communication, coordination, and cooperation. Take advantage of training opportunities and technical assistance to position your institution for success in the electronic FSA system. Contact Clarence M. Hicks at 202.377.4381 or clarence.hicks@ed.gov for further information.

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Keep the Money Flowing

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  1. Keep the Money Flowing Victoria Edwards Clarence M. Hicks

  2. How much money?

  3. HBCUs TITLE IV FUNDING TOTAL TITLE IV FUNDING $1,601,024,548.00 Fiscal Year 2002

  4. If you want to keep the Title IV Program funds flowing--you must develop and implement a SEAMLESS Financial Aid Processing System

  5. Program Integrity and Accountability How to Evaluate Evaluation Tools • FSA Assessments • Annual Audits • Program Reviews • Cohort Default Rate • Customer Surveys • Late Stage Delinquency

  6. FSA Assessments http://ifap.ed.gov/IFAPWebApp/qualityassurance/Default.htm • Proactive • Review entire process • Immediate feedback • Documented process • FSA assistance

  7. FSA Assessments Continued • Hard Copy/Electronic • Efficient • Multiple Users • Outcome based • Customer focused • Hyperlinks

  8. Requirements for an Effective Aid Operation • Effective Communication • Effective Coordination • Effective Cooperation

  9. Communication • A shared Institutional • Responsibility for effective • Title IV management

  10. Coordination Team building for all staff involved in the delivery of Title IV program funding on the campus.

  11. Cooperation Student Financial Aid Committee Regularly scheduled meetings for staff involved in the delivery of the Title IV program.

  12. Questions your President may ask you: • Written Procedures? • Staff Skills? • Production Schedule? • Adequate Hardware & Software? • Do you have a FSA checklist?

  13. Questions continued • Does your account balance? • Is there a timely submission of all reports to ED? • Is there a timely award notification process for FSA students? • Do you have an annual written management plan?

  14. Training State Conference Attendance Seminars/workshops Continuing education HBCU Summer Workshops? EAC NASFAA?

  15. Technical Assistance • FSA will work with you in a proactive approach to evaluate your FSA program operation • Outside evaluators will look at your operation with an objective view

  16. Is your institution positioning itself to participate in the impending FSA electronic system or is your institution still operating in a paper mode?

  17. Clarence M. Hicks202 377 4381 Phone202 275 3479 Faxclarence.hicks@ed.gov

  18. Thank you ... ANY QUESTIONS?

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