Defrauding is a serious offense and has different consequences depending on the severity.
The sanctions listed should certainly be a deterrent for anyone who knowingly or willingly commits a violation.
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.
Consequenses of dishonest behavior
Most schools never regain eligibility after loosing it
This highlighted the need to two audits per year to ensure accuracy.
Ensuring all reporting is accurate and correct is criticle, the fines can cause a shut down of a school.
Huges fines and jail time for fraud.
Accountability is to be taken seriously because the consequence is having to pay huge fines and possible jail time!
Make sure to do everythng correctly. Because the fines are big!
A termination ends a school's participation in the FSA programs.
Oversight and accountability are to be taken seriously. As such, we must be detailed and timely in all that we do.
Ways to get fined and the cost and consequences for the school.
