building a comprehensive compliance plan for the financial
TRANSCRIPT
Building a Comprehensive Compliance Plan for the Financial Aid Operation
JoEllen Soucier
Executive Director of Financial Aid
Houston Community College
Today’s Discussion
Why is compliance so important?
Instructional Guides and Compliance Resources
Components of a Comprehensive Compliance Plan Responsibilities and Communications Reporting Education and Training Corrective Action Plans
Top Audit and Program Review Findings
Consumer Information Requirements Inventory
Internal Audits
Why is Compliance so Important? Department of Education Program Review – Final Determination Letter
Why is Compliance so Important?
Department of Education Program Review – Final Determination Letter – Assessed Liability
Top 10 Findings – Annual Audit
• Return of Title IV (R2T4) Calculation Incorrect
• R2T4 Return made late
• Pell-Overpayment/Underpayment
• Verification Violations
• Over-award-Financial Need Exceeded
• Enrollment Status – Inaccurate/Untimely Reporting
• Student Credit Balance Deficiencies
• Ineligible Student – Not Making SAP
• Improper Loan Processing
• Entrance/Exit Counseling Requirement not Met
Top 10 Findings – Program Review
• Enrollment Status – Inaccurate/Untimely Reporting
• Crime Awareness Requirements Not Met
• R2T4 Calculation Errors
• Verification Violations
• Drug Abuse Prevention Program Requirements Not Meet
• Entrance/Exit Counseling Deficiencies
• Consumer Information Requirements Not Met
• Student Credit Balance Deficiencies
• Inaccurate Recordkeeping
• Satisfactory Academic Progress Policy Not Adequately Developed/Monitored
Institutional Guides - Verification
Institutional Guides - SAP
Institutional Guides – R2T4
Institutional Guides – HS Validation
Compliance Resources - Inventory
Compliance Resources - Inventory • Information for Financial Aid Professionals (IFAP)
• http://ifap.ed.gov/ifap/index.jsp
• Application and Verification Guide – Student Aid Handbook
• https://ifap.ed.gov/ifap/byAwardYear.jsp?type=fsahandbook
• The Blue Book – October 2005
• http://ifap.ed.gov/bbooks/102005BlueBook.html
• College Navigator
• http://nces.ed.gov/collegenavigator/?q=University+of+Texas&s=TX
• Common Origination and Disbursement (COD)
• https://cod.ed.gov/cod/LoginPage
• Consumer Financial Protection Bureau
• http://www.consumerfinance.gov/paying-for-college/
• Dear Colleague Letters
• http://ifap.ed.gov/ifap/byYear.jsp?type=dpcletters
• Default Management and Rates
• http://www2.ed.gov/offices/OSFAP/defaultmanagement/cdr.html
• e-CFR – TITLE 34--Education
• http://www.ecfr.gov/cgi-bin/text-idx?c=ecfr&tpl=/ecfrbrowse/Title34/34cfr668_main_02.tpl
• ED Program Integrity Questions
• http://www2.ed.gov/policy/highered/reg/hearulemaking/2009/verification.html
• Electronic Announcements
• http://ifap.ed.gov/ifap/byYear.jsp?type=eannouncements
• Electronic Data Exchange (EDE)
• http://ifap.ed.gov/ifap/processing/edeSuite.jsp
• FAA Access
• https://faaaccess.ed.gov/FOTWWebApp/faa/faa.jsp
• FAFSA on the Web
• http://www.fafsa.ed.gov/
• Federal Student Aid
• http://studentaid.ed.gov/
• FSA Assessments: Find It, Fix It, Enhance Compliance
• http://www.ifap.ed.gov/qahome/fsaassessment.html
• FSA Coach
• http://fsatraining.info/login/index.php
• FSA Training for Financial Professionals
• http://www2.ed.gov/offices/OSFAP/training/specific.html
• Homelessness Resource Exchange
• http://portal.hud.gov/hudportal/HUD?src=/states/texas
• Information for Financial Aid Professionals (IFAP)
• http://www.ifap.ed.gov/
• Integrated Postsecondary Education Data System (IPEDS)
• http://nces.ed.gov/ipeds/
• Internal Revenue Service Online
• http://www.irs.gov/
• IRS Publication 501 – Filing Status
• http://www.irs.gov/publications/p501/ar02.html
• IRS Tax Return Transcripts
• https://www.irs.gov/Individuals/Get-Transcript
• ISIR Guides
• https://www.fsadownload.ed.gov/index.htm
• Legal Topic, Terms, and Situations
• http://uslegal.com/
• The Money Converter
• http://themoneyconverter.com/JMD/USD.aspx
• National Association of Student Financial Aid Administrators (NASFAA)
• www.nasfaa.org
• National Center for Education Statistics
• http://nces.ed.gov/
• National Center for Homeless Education
• http://center.serve.org/nche/states/state_resources.php
• National Conference of State Legislatures – Common Law Marriage
• http://www.ncsl.org/research/human-services/common-law-marriage.aspx
• National Foster Care Coalition
• http://www.nationalfostercare.org/
• National Student Loan Data System (NSLDS)
• https://www.nsldsfap.ed.gov/nslds_FAP/default.jsp
• Office of Inspector General
• http://oig.hhs.gov/
• https://forms.oig.hhs.gov/hotlineoperations/index.aspx
• Policies and Procedures Manual – A Guide to Creating
• http://ifap.ed.gov/qahome/qaassessments/makingofapandpmanual.html
• Publication 17 – Your Federal Income Tax
• https://www.irs.gov/forms-pubs/about-publication-17
• IRS Forms and Publications
• http://www.irs.gov/formspubs
• SAR Comment Codes
• http://ifap.ed.gov/eannouncements/012516SARandSARAckMockups20162017.html
• Selective Service Registration Confirmation
• https://www.sss.gov/RegVer/wfVerification.aspx
• Social Security Administration
• http://www.ssa.gov/ssnumber/
• State Emancipation Laws – Children’s Rights Council & Findlaw
• http://www.crckids.org/child-support/child-emancipation/
• Student Aid Handbook
• https://ifap.ed.gov/ifap/byAwardYear.jsp?type=fsahandbook
• Student Loans – MPN, Entrance Counseling, and Exit Counseling
• https://studentloans.gov/
• Taxpayer Guide to Identity Theft
• http://www.irs.gov/uac/Taxpayer-Guide-to-Identity-Theft
• Technical Reference Manuals
• https://www.fsadownload.ed.gov/index.htm
• Texas Higher Education Coordinating Board – College for all Texans
• http://www.collegeforalltexans.com/index.cfm?ObjectID=699A998A-E7F3-1DCC-3F460F26136EEA05
• USCIS – US Citizenship and Immigration Service
• http://www.uscis.gov/portal/site/uscis
• U.S. Department of Education
• http://www.ed.gov/
• OCR Complaint Process - http://www2.ed.gov/about/offices/list/ocr/know.html?src=ft
• U.S. Department of Veterans Affairs
• http://www.va.gov/
• Verification Assessment Module
• http://ifap.ed.gov/qahome/qaassessments/fsaverification.html
• Verification Questions and Answers - ED
• http://www2.ed.gov/policy/highered/reg/hearulemaking/2009/verification.html
Compliance Resources - NASFAA
Consumer Information Inventory – 23 pages
Conducting Internal Audits – Audit Plan
Conducting Internal Audits – R2T4
Components of a Comprehensive Compliance Plan
Components of a Comprehensive Compliance Plan
Components of a Comprehensive Compliance Plan
Components of a Comprehensive Compliance Plan – Reporting Requirements
Sub-Components of a Comprehensive Compliance Plan – Training Plan
