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Federal Student Aid Assessments. Holly Langer-Evans and Michael Cagle. 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
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Federal Student Aid Assessments Holly Langer-Evans and Michael Cagle
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 • How a school can use the Assessments to resolve Title IV deficiencies and improve its policies and procedures manual • A Team Building Tool
What are the Federal Student Aid Assessments Tools to: Prevent non-compliance Identify compliance issues Establish management enhancements to correct problems
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
HERA The Redesign of the Assessments New Look and Feel • Introduce the New Policy and Procedure Assessment
Policies & Procedures Assessment • Policies and Procedures At A Glance • Minimum Requirements • Regulations • Activities
Potential Audit Findings • Satisfactory Academic Progress Policy Not Adequately Developed / Impaired Administrative Capability • Verification Incomplete • Title IV Accounts Not Reconciled
Learn to Navigate the AssessmentsInstructor Demonstration http://ifap.ed.gov 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
Finding 1: SAP Policy Not Adequately Developed / Impaired Administrative Capability • File Review ActivitiesSAP Activity 1: SAP Not Met File Review WorksheetSAP 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 http://ifap.ed.gov Finding: 3 – Title IV Accounts Not Reconciled • Select Managing Funds – Fiscal Management • Select Activity 1 – Reconciliation Worksheets • Review Year End and Monthly Worksheet
Management Enhancement An Action Plan To: Identify compliance issues Assign the issue for correction Design a Corrective Action Plan
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 http://www.teambuildinginc.com 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