I've learned that it is very important to know what can trigger a review from the Department of Education. reporting and keeping records are the highest priority and a great responsibility. It's important to maintain separate accounts for ease of reconditions of Federal Pell/Campus Based Funds and Direct Loans, and there are penalties for not keeping up with required records.

I was unaware that Exit Counseling must be conducted for outside loans, there is a process for distribution of funds to a school to be giving to the students, all steps of the process must be followed, there is a new R2T4 process related to programs taught in modules, and 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 Finacial Aid Manager must monitor to stay in compliance.