Federal Student Aid Assessments

1. Federal Student Aid Assessments Holly Langer-Evans and Michael Cagle

2. 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

3. What are the Federal Student Aid Assessments Tools to: Prevent non-compliance Identify compliance issues Establish management enhancements to correct problems

4. 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

5. IFAP http://ifap.ed.gov Where to find the Federal Student Aid Assessments

6. School Portal http://Federal Student Aid4schools.ed.gov Where to find the Federal Student Aid Assessments

7. HERA The Redesign of the Assessments New Look and Feel • Introduce the New Policy and Procedure Assessment

8. The Federal Student Aid Assessments – Re-Design

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

10. Policies & Procedures Assessment • Policies and Procedures At A Glance • Minimum Requirements • Regulations • Activities

11. Potential Audit Findings • Satisfactory Academic Progress Policy Not Adequately Developed / Impaired Administrative Capability • Verification Incomplete • Title IV Accounts Not Reconciled

12. 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

13. 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

14. 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

15. 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

16. Management Enhancement An Action Plan To: Identify compliance issues Assign the issue for correction Design a Corrective Action Plan

17. 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.

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

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

20. Answer Key Lip Jaw Hip Rib Gum Leg Ear Arm Eye Toe

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

22. 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

23. Questions