Federal regulations related to Financial Aid are frequently changing, as the Department of Education recognizes areas of policy insufficiency. Often the changes are to clarify current policy; however, significant new regulations have been announced. This presentation will look at the current policy for Satisfactory Academic Progress (SAP) and recent changes, which impact operational and audit personnel.
In addition, the Department of Education’s new policies effective for the 2013 – 2014 academic year will be discussed in detail. These policies impose new operating and verification requirements on the Financial Aid operations at institutions of higher education. The verification requirements are in response to a rising tide of student identity theft and improper applications for financial aid. The challenges of implementing verification steps by the financial aid office and subsequent internal audit validation of the verification process will be included.
After this presentation, a participant will be able to:
Knowledge Level: Intermediate
Field of Study: Auditing
Prerequisites: Professional Experience
Advance Preparation: None