Every institution needs to have an expert in compliance besides the Director of Financial Aid so every decision could be evaluated by more than one person based on the current changes on laws and regulations.

The importance to manage Title IV funds and the institution obligation to make sure that all operations stay in compliance with the Department of Education. From Corrective Actions to Suspension, this is a very delicate matter that every financial aid staff must diligently monitor to prevent the school from losing Title IV eligibility. 

Communication and teamwork between admissions and financial aid is key in order to stay in compliance with rules and regulations governing the use of federal funds for education. 

It is very common for a lot of parents not wanting to disclose financial information thinking the student is already considered an adult. Once they know about how this will affect the financial aid for their kids, usually they change their minds and disclose the information needed.

It is very important to not only request the documents needed to clear a C code, but also check the dates and type of document provided by the student.

A good practice to complete a FAFSA verification as soon as possible when the student or parent cannot use the IRS DRT, is to ask them to request the IRS tax transcript as soon as the ISIR is received with the verification flag. 

It is so important that a financial aid person learns how to assist students with any special circumstances so they can still complete the FAFSA and be qualified for what they are entitled to receive regardless of their particular circumstances.

Administering Title IV is a big responsibility and as Financial Aid Managers we need to make sure that our team is properly train to avoid any violations due to ignorance of the rules and regulations established by the Department of Education. 

I have learned how crucial is the involvement of all departments to make sure a program will not be selected for a Department of Education Review. 

Making sure that all deadlines are met when it comes to reporting, processing and returning of funds is one of the most important roles that a Financial Aid Manager must monitor to stay in compliance.