Training Tip of the Month – December

Did you Know

Consumer Information disclosures are probably not the favorite part of anyone’s job, but it is a critical responsibility that can impact an institution’s federal aid eligibility. Because of that, financial aid offices often become the organizers of all the information as well as the CI Cops and Deadline Detectives.

How can we stay on task and assure the information we’re providing is accurate and being distributed
or posted to our websites in a timely manner?  It all centers on knowing the requirements. Here are a few tips to get you started.

Paying close attention to deadlines is a key to success!

  • October 1st is a significant deadline for several disclosures
  • Use a spreadsheet to track deadlines and responsible parties; update when task is completed

Set calendar reminders!

  • Allow two months before the required deadlines to coordinate with other departments to
    collect the required documentation

Ensure consumer information links work properly at all times!

  • Links must also point to the exact electronic address where information is posted
  • Do you have a notice that your institution will provide a paper copy of any or all consumer
    information upon request?
  • Schedule a set time each month to review your consumer information web page and check
    all hyperlinks 

Resources
Federal Regulations ECFR §668 Subpart D—Institutional and Financial Assistance Information for Students:
www.ecfr.gov/cgi-bin/text-idx?SID=8f7a82242c9d1133fb4e8c777afef863&node=pt34.3.668&rgn=div5#sp34.3.668.d

FSA Handbook: http://ifap.ed.gov/fsahandbook/attachments/1415FSAHandbookCompleteActiveIndex.pdf

DCL GEN 08-12: ifap.ed.gov/dpcletters/attachments/GEN0812FP0810AttachHEOADCL.pdf

IFAP: www.ifap.ed.gov/qahome/qaassessments/consumerinformation.html

FSA Consumer Information at a Glance Template: www.ifap.ed.gov/qadocs/ConsumerModule/ConsumerInfoataGlance.doc

National Postsecondary Education Cooperative disclosure suggestions:

nces.ed.gov/pubs2012/2012831.pdf

USA Funds Consumer Information manual and compliance checklist:

www.usafunds.org/USAFunds%20ResourceLibrary/ConsumerInformationManual.pdf
www.usafunds.org/Pages/ComplianceChecklist.aspx

This Tip of the Month was provided by your RMASFAA Training Committee

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