Compliance Starts with Admissions | Origin: FA231
This is a general discussion forum for the following learning topic:
Regulatory Compliance - Outside the Financial Aid Office --> Compliance Starts with Admissions
Post what you've learned about this topic and how you intend to apply it. Feel free to post questions and comments too.
The information in this section served as a great reminder of the regulations we are expected to abide by. It has prompted me to take a look at our policies, procedures, website, and materials to ensure that we are in compliance.
My take away from this section is the importance of separating the Admissions office and the Financial Aid office.
The importance of the seriousness of the responsiblies of the Admissions and FA departments .Each must work with esch other while maintaining separate intractions with perpective students.
Regulations and bans are put into place with the students best interest in mind, such as the incentive for enrollment ban.
The significance in regulatory practices from an Admissions as well as a Financial Aid standpoint.
Admissions and Financial Aid should be kept separate so that the student receives the correct information and no misrepresentation takes place whether by mistake or not.
Regulations are put in place from the admissions and financial aid standpoint.
I learned that regulations need to be in place for a effective work envieorment. And they also serve as a medium of conmmunication with the consumer that you are selling to. It is crutuial again that the mode of communication need to be set for an effective work enviroment.
I learned it is best to verify a prospective students high school diploma and transcripts. There are diploma mill agencies that help people obtain a diploma or certificate with little or no course work.
Consistency and transparency is the main factor in upholding proper Admissions standard.
My take away from this section is the importance of separating the Admissions office and the Financial Aid offic
My takeaway from this module is that confirmation and legitimacy of the high school diploma are very important.
My takeaway from this module is that it is very important to take the extra steps to ensure that we authenticate and give the correct information is very important.
My takeaway is that it is very important to verify all information before the student is offered admissions.
Separating the financial aid and admissions processes will help protect against any confusion between the two.
This section has reinforced the importance of all staff being up to date on regulations and campus policies that are in place. It has also reminded me of the importance an institution has in educating and monitoring its staff regarding its compliance rules.
Misrepresentation is crucial in the financial aid process
As someone who is not very familiar with the financiial aid aspects of an institution, I found all of this imformative.
I took a deep dive in this module and learned a ton about the incentive compensation ban, which is a provision in the Higher Education Act (HEA) that was signed into law in 1992 by George H.W. Bush to prevent for-profit institutions and individuals from employing unethical student recruitment practices. I learned how much substantial misrepresentation can be detrimental to an institution in a variety of ways. It can be something small by one admissions rep, or something systemic in a system of campuses or schools. The best solution I found is transparency should be used in all areas, especially starting with admissions. Institutions need to have an entity or person who approves each applicant where admissions or recruitment reps can send materially approved applications and complete documentation. This would allow an institution to compensate based on amount or volume of files processed, as they would not be directly responsible for the acceptance or admittance of the students.