Interpreting Law and Regulation | Origin: FA230
This is a general discussion forum for the following learning topic:
Financial Aid Management - Compliance without Compromise --> Interpreting Law and Regulation
Post what you've learned about this topic and how you intend to apply it. Feel free to post questions and comments too.
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.
Its important to study the law daily. Information changes and it is our job to know and apply the law at all times.
In my office, there are two enduring principles prominently displayed on a plaque. The first underscores the importance of avoiding speculation or interpretation beyond explicit directives. The second asserts that if an action is not expressly prohibited by law or regulations, it is deemed permissible.
We have to have the guide provided by the department of education follow the law and regulations and read to be updated with the new regulations
It is best to pay attention to laws and rules if not sure call the department for guidance
Never attempt to read between the lines of the law or regulation.
I have learned that FAOs have to be meticulous about their work to comply with the existing laws
As a Financial Aid Officer, you must abide by the written guidelines of the laws and regulations of FA and to not read between the lines on getting clarification. If you are not sure on a policy, ask and dont assume
We have a tendency to call ED to answer difficult questions. We assume that they are the experts. If we receive bad information from an inexperienced staff member and do something incorrectly, WE are at fault. It is better to learn to interpret the regulations on our own as we are ultimately responsible for our decisions and actions. Seeking guidance is fine, but should not be the sole basis for making difficult decisions.
Reviewing regulations from the source and various other sources, IE: handbook, and guidance is the best way to understand how a regulation will apply to your school
I learned to read slowly and pay attention the and or's in the context.
Make sure to follow the law! And if the law conflicts of what you are going to do! Make sure to work with law to make it work with the institution.
I have learned that it is important to stay within the written guidlines of the laws and regulations of FA and to not read between the lines on getting clarification. Err on the side of caution