1 / 29

Session 12

Session 12. Then: Standing in line at the bank. Today: Drive Thru ATMs. Then: The PC work environment. Today: The PC on-the-go. Then: “Portable Music”. Today: As portable as a computer file. Then: Printing Today: Printing. Then: Directions. Now: Directions.

menefer
Download Presentation

Session 12

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Session 12

  2. Then: Standing in line at the bank

  3. Today: Drive Thru ATMs

  4. Then: The PC work environment

  5. Today: The PC on-the-go

  6. Then: “Portable Music”

  7. Today: As portable as a computer file

  8. Then: Printing Today: Printing

  9. Then: Directions Now: Directions “We’ve been wandering for 40 years. But would he ever ask for directions?”

  10. Then: The FSA Assessments

  11. Now: The FSA Assessments

  12. 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

  13. What are the Federal Student Aid Assessments? • Tools to prevent and/or identify compliance issues • A way to establish management enhancements to correct problems Federal Student Aid Assessments Tools for Schools

  14. 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

  15. IFAP http://ifap.ed.gov • School Portal http://Federal Student Aid4schools.ed.gov Where to find the Federal Student Aid Assessments

  16. The Federal Student Aid Assessments – Re-Design

  17. Why would you use the Federal Student Aid Assessments?

  18. Learn to Navigate the AssessmentsInstructor Demonstration http://ifap.ed.gov

  19. Importance of Team Building “It’s a fact that people working as a team can achieve better results than individuals working alone.”

  20. Team Activity • When I say go, list 10 body parts that have only 3 letters in them. You can’t use slang.

  21. Use the Team Building Tool http://www.teambuildinginc.com www.teambuildinginc.com

  22. 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

  23. 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

  24. 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

  25. 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

  26. Finding: 3 – Verification Incomplete http://ifap.ed.gov • 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

  27. Finding: 4 – Title IV Accounts Not Reconciled http://ifap.ed.gov • 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

  28. 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

  29. We appreciate your feedback and comments. Holly Langer-Evans617 289 0136 Byron Scott312-886-8734 Holly.Langer-Evans@ed.gov Byron.Scott@ed.gov

More Related