To be in compliance with federal requirements, you've got to have written policies in place — and your practices must be in line with them.

We work with institutions to ensure their policies are accurate and comply with federal requirements. And when policies are lacking, our team works with you to revise or draft formal policies that meet compliance standards as well as your operational and student service goals.

When conducting federal program reviews at institutions, federal auditors typically review the following policies:

• Procedures for periodic reconciliation of fiscal office and financial aid office award data
• Cash management policies and procedures for drawdown, disbursements, and excess cash
• Coordination of all information related to a student's eligibility
• Satisfactory academic progress
• Return to Title IV funds
• Procedures for making status adjustments (e.g., adding educational programs, adding locations, name changes) with the U.S. Department of Education
• Need analysis adjustment
• Verification
• Establishing cost of attendance budgets
• Packaging for selection of aid recipients
• Policy on academic year, payment period, and frequency of disbursement
• Definition of "full-time," "3/4 time," and "half-time" for financial aid purposes
• Crime statistics and reporting
• Suspected fraud and other criminal misconduct in connection with the application for federal student aid
• Resolution of comments on a student's federal output document
• Consortium and contractual agreements
• Confirmation of a student's citizenship status, social security number, registration with selective service, ability to benefit, and enrollment status
• Obtaining and providing financial aid transcript information through NSLDS

Do you want to ensure that your policies are compliant? Contact CHESS today, and schedule an appointment.