Federal Student Aid Assessments

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Federal Student Aid Assessments

• Holly Langer-Evans and Michael Cagle

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Session Objectives

• 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

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

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Where to find the Federal Student Aid Assessments

• IFAP
• http//ifap.ed.gov

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Where to find the Federal Student Aid Assessments

• School Portal
• http//Federal Student Aid4schools.ed.gov

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The Redesign of the Assessments
HERA
New Look and Feel
Introduce the New Policy and Procedure Assessment
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The Federal Student Aid Assessments Re-Design
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Why would you use the Federal Student Aid
Assessments?
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Policies Procedures Assessment

• Policies and Procedures At A Glance
• Minimum Requirements
• Regulations
• Activities

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Potential Audit Findings

• Satisfactory Academic Progress Policy Not
  Adequately Developed / Impaired Administrative
  Capability
• Verification Incomplete
• Title IV Accounts Not Reconciled

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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

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Finding 1 SAP Policy Not Adequately Developed /
Impaired Administrative Capability

• File Review Activities SAP Activity 1 SAP Not
  Met File Review WorksheetSAP Activity 2 SAP
  Met File Review Worksheet

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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
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Learn to Navigate the AssessmentsInstructor
Demonstration

• Finding 3 Title IV Accounts Not Reconciled
• Select Managing Funds Fiscal Management
• Select Activity 1 Reconciliation Worksheets
• Review Year End and Monthly Worksheet

http//ifap.ed.gov
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Management Enhancement
An Action Plan To
Identify compliance issues
Assign the issue for correction
Design a Corrective Action Plan
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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.

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Importance of Team Building

• Its a fact that people working as a team can
  achieve better results than individuals working
  alone.

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Team Activity

• When I say go, list 10 body parts that have only
  3 letters in them. You cant use slang.

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Answer Key

• Lip Jaw
• Hip Rib
• Gum Leg
• Ear Arm
• Eye Toe

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

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Questions