Title IV Administration is a Team Sport

1. Session 46 Title IV Administration is a Team Sport Marcia Boyd, Alicia Harris, and James McMillan | Dec. 2015 U.S. Department of Education 2015 FSA Training Conference for Financial Aid Professionals

2. Agenda Session Overview • Title IV Administration: Roles and Responsibilities • Policy Changes and Title IV Compliance • Campus Communication • Helpful Resources • Questions and Answers

3. To participate in any Title IV program, a school must demonstrate that it is administratively capable of managing its basic operations. Administrative Capability 3

4. The Network of Responsibilities Managing FSA program funds is a school-wide responsibility. FSA program funds are provided to the school, and all offices at a school must work together to ensure successful program management.

5. Primary Responsible Offices FSA program management generally takes place in three functional areas: • Office of the Chief Executive (CEO, President, Chancellor, etc.) • Chief Financial Aid Officer • Chief Business Officer

6. President/CEO’s Office • Ultimate responsibility for a school’s FSA programs • Authority and responsibility delegated to other offices • Strong leadership fosters an environment to promote an effective and responsive financial aid program

7. Financial Aid Office • Assigned most of the responsibility for administering FSA programs • Limited role in the institution’s fiscal operation

8. Financial Aid Office Responsibilities commonly assigned to a school’s Financial Aid office • Advise students and parents about financial aid • Provide students with consumer information • Determine students’ eligibility • Make financial aid awards

9. Financial Aid Office • Coordinate activities with other school offices • Interact with various outside groups, agencies, associations, and individuals • Monitor students’ (SAP) • Maintain records related to the administration of Title IV • Communicate regulations and changes to institutional staff with Title IV responsibilities

10. Financial Aid Office • Keep current on changes in laws and regulations to ensure that the school remains in compliance • Manage and report on activities that involve financial aid funds • Calculate the return of Title IV funds • Determine eligibility for post-withdrawal disbursements

11. Financial Aid Office • Reconcile student financial aid data provided to the business office • Payments Made • FSA Funds Returned • Expenditures Reported • Report changes to ED effecting eligibility status

12. Financial Aid Office Perform (limited) fiscal operations • Authorizing payment of FSA funds to student • Authorizing return of Title IV funds • Notifying student/ED of overpayments • Coordinating submission of FISAP

13. Business Office • Most FSA-related fiscal operations • Provides critical services managing both federal and nonfederal financial aid programs

14. Business Office • Administers the accounting, recordkeeping, and reporting functions • Strong internal controls and sound business and financial management practices

15. Business office Coordinate activities and cooperate with the Financial Aid Office in: • Projecting cash needs • Processing cancellations and institutional refunds • Obtaining authorization to pay FSA funds • Being aware of the changes in FSA laws and regulations • Submitting accurate and timely reports • Reconciling Title IV Funds

16. Business Office • Maintain a system of internal controls • Ensure that the functions of authorizing and disbursing remain separate • Maintain records consistent with government auditing standards • Maintain records to ensure a clear audit trail • Draw down and return FSA funds to program accounts

17. Business Office • Disburse funds to eligible students • Maintain accurate student account records • Collect Federal Perkins Loans • Calculate the return of Title IV funds • Establish and implement the institution’s refund policy • Notify students of pending loan disbursements and right to cancel

18. Business Office • Return of Title IV funds • Assist in reporting FSA expenditures • Reconcile accounts • Cash between school records and bank • Federal funds between bank statements and federally reported balances • Internal reconciliation

19. Business Office • Assist in completing FISAP • Maintain a cash management system • Provide general stewardship for federal funds • Prepare for and participate reviews and audits

20. Business Office Separation of Duties • Duties are divided among different individuals to reduce the risk of error or inappropriate action • Responsibility for related transactions should be divided among employees so that one employee’s work serves as a check on the work of other employees

21. The Network of Responsibilities Academic Affairs • Degree Programs • Certificate Programs • Gainful Employment Programs • Student Retention • Consumer Information

22. The Network of Responsibilities Admissions • Initial Student and Parent Contact • Consumer Information • Provides Financial Aid Information • Collects Critical Student Eligibility Data

23. The Network of Responsibilities Registrar • Consumer Information • Satisfactory Academic Progress • Enrollment Reporting • Gainful Employment Reporting • Determining Academic Outcomes

24. The Network of Responsibilities Student Affairs • Consumer Information • Retention • Student Conduct • Counseling Requirements • Outreach/Awareness Activities

25. The Network of Responsibilities Campus Security • Campus Safety/Emergency Management • Clery Act • Violence Against Women Act (VAWA) • Annual Security Report • Consumer Information

26. The Network of Responsibilities Information Technology • Data Security • Coordinated Campus-Wide Information System • Student Information System • Data Driven Reporting

27. The Network of Responsibilities Institutional Research • Consumer Information • Integrated Postsecondary Education Data System (IPEDS) Reporting • College Navigator – College Search Tool • IPEDS Data Center – Data for Researchers and Analysts

28. Policy Changes and Compliance • Adding New Programs • Increasing/Decreasing Program Length • Changing Admission Standards • Determining Non-Attenders • Processing Administrative Withdrawals

29. Institutional success requires an effective communications, collaboration, and cooperation network on the campus between all offices involved in the delivery of Title IV funds. Keys to Success: Three C’s 29

30. Communications between the financial aid office and the following offices: Fiscal Office/Student Accounts Registrar Admissions Information Technology Student Housing Academics Three C’s Network 30

31. Communication is a shared institutional responsibility for effective Title IV program management. Communications 31

32. Communication is a shared institutional responsibility, therefore you must collaborate your efforts with all the offices involved in the delivery of Title IV funds. Collaboration 32

33. Cooperation between the financial aid office and the following offices: President/CEO’s Office Fiscal Office/Student Accounts Registrar Admissions Academic Affairs Information Technology Student Affairs Campus Security Institutional Research Cooperation 33

34. Summary In Conclusion: • Managing FSA Funds is a school-wide responsibility • All offices must work together to ensure successful program management • Primary responsibility President/CEO, CFO, and the FAD

35. Helpful Resources • 2015-16 Federal Student Aid Handbook: Appendix B-A School’s Financial Management Systems • Consumer Information: http://ifap.ed.gov/qahome/qaassessments/consumerinformation.html • Campus Security: http://www2.ed.gov/admins/lead/safety/campus.html • IPEDS Reporting: https://nces.ed.gov/ipeds/Home/ReportYourData

36. QUESTIONS?