Training Tip of the Month – May

Did you Know

Make sure your campus is in compliance!

  • Know the regulations: 2015-2016 Federal Student Aid Handbook- Consumer Information and School Reports Chapter 6 (pgs. 2-109 to 2-138) http://ifap.ed.gov/fsahandbook/attachments/1516FSAHbkActiveIndexMaster.pdf consumer information
  • Determine who is responsible for distribution of Consumer Information on your campus
  • Determine how the Disclosure Notice is being distributed (in paper format, electronic format or both) NOTE: Some Disclosures must be distributed in paper format (refer to the regulations for specific distribution requirements)
  • Assure your website is up-to-date and that navigation links are not broken- Links posted on consumer information web pages must be working properly at all times and the links must point to the exact electronic address where the information is posted.  A notice must also be posted on the web that the institution will provide a paper copy of the information upon request. Refer to the Federal Regulations for exact requirements.
  • Document, Document, Document- Keep a record of your annual Disclosure Notice Student Distribution List and copies of the Disclosure Notice  and any supplemental documents used for Disclosure purposes (i.e.: Student Handbooks, Academic Catalogs, Athletic Notices etc.…)

Tip:
Schedule a meeting and invite senior leadership from all of the departments on campus who are key stakeholders in disclosure information such as Human Resources, Student Life, Institutional Research, Registrar, Athletics, and IT Department.   Provide each representative with a copy of the current disclosure notice highlighting the areas for which their department is responsible for content.  Notify them of the deadline, and provide them with a copy of the FSA Handbook CH 6 and the “Consumer Information Disclosures At-A-Glance Template”.  The template contains links to the Regulatory Information/Laws and Resources that each department may review for regulatory requirements.  http://www.ifap.ed.gov/qahome/qaassessments/consumerinformation.html

The Federal Student Aid Consumer Information Disclosures At-A-Glance is a great tool that can be used as a guide to assure your campus is in compliance with each of the disclosure requirements: http://www.ifap.ed.gov/qahome/qaassessments/consumerinformation.html

Late spring or early summer is a good time of year to review your Consumer Information Disclosure Notice for updates that you may need to gather from other departments on campus so that your Notice is ready for the required deadlines.  OCTOBER 1 is a key deadline (refer to the regulations for specific deadline requirements).

Sources:
Information for Financial Aid Professionals (IFAP)

http://www.ifap.ed.gov/ifap/index.jsp

IFAP Federal Student Aid Assessments Consumer Information
http://www.ifap.ed.gov/qahome/qaassessments/consumerinformation.html

2015-2016 FSA Handbook-
http://ifap.ed.gov/fsahandbook/attachments/1516FSAHbkActiveIndexMaster.pdf

Brought to you by the RMASFAA Training Committee

 

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