Required Reading for the FAO
Why is it important for the FAO to read the “Federal Registers�
IFAP is what I use most to stay up to date.
The first reason, although not the most important, in my opinion, is that in order to be in "compliance with the administrative capability requirements of 34 CFR 668.16(o), a school must use the Information for Financial Aid Professionals (IFAP) website to review Dear Colleague Letters, announcements, or Federal Registers". More importantly, the FAO should read "Federal Registers" because they are the best way to stay up on proposed rules, rule making, and changes that have been finalized.
Katie,
I believe that networking with other directors and colleagues in Aid is a good way to know if you are on the right tract and how others are handling the misinformation from Ed.
Warren Hoffman
With the laws and regulations changing from year to year it is really important to make sure that any FAO is up to date on those changes. The way on how things were done previously won't always be the case in the future which means new procedures and protocol will need to be developed and staff will need to be trained on those changes, such as the 150% rule. If the FAO doesn't keep up on those changes and train staff accordingly, it could potentially cost the school their Title IV eligibility or affect the student in one way or another. One way to keep up on such updates is to go to seminars offered by the DOE or sign up for updates on IFAP. Interpreting some of the legislation can be difficult and calling the DOE can be helpful for guidance. However, when reading through some of the provided material, it is a little discouraging to read that even misinformation from the DOE can happen and will still ultimately be at fault of the school. What is the best way to prevent bad information from happening when an answer comes directly from the creating source?
Daisy,
There are so many laws and regulations that keeping up can be a full time job. There is plenty of literature out there. It is important for Aid Officers on all levels to network with others to find answers when they are not obvious. Knowing what you don't know is as important as knowing what you know. As in any field, keeping up with the literature makes for a better counselor.
Warren Hoffman
I believe because it is very important for a FAO to familiarize him/herself with the law and regulation to learn how to use them accurately and effectively. Also because regulations are constantly changing, so we can't keep up with all the details.
Catalina ,
Reading in order to stay current in the financial aid industry is mandatory. This is a very time consuming part of the job and one that is so important that I actually schedule time on my calendar for it. Also, due to the fact that there is so much available to read, that in some of the financial aid offices I have worked for we divided up the responsibilities of the various listservs, training opportunities and then summarized them for the entire staff either via email or during a staff meeting. This was a very strategic method as it assisted with the heavy workload already expected from financial aid professionals.
Cindy Kohlman
To ensure they are informed of any new or old laws and how it can or should be applied to today's polices and procedures. This ensured rules and regulations are always followed to the T.
Maria,
You are right on! IFAP is my favorite resource and I don't know what I did without it. Years ago we received everything via paper from the Department of Education and it only went to the Director. If the Director did not share it, or in some cases, interpreted the regulations incorrectly, the staff was at their mercy. Today, due to the internet, there is no reason that any financial aid administrator can not empower themselves and look what whatever information they need!
Cindy Kohlman
Sergio,
Yes, the Federal Registers are very helpful. I have found that the most time-efficient way to stay current is to subscribe to the weekly IFAP distribution list. I think the website is outstanding and 99% of the time I am able to find what I am looking for within a few clicks!
In at least two of the financial aid offices that I worked for we divided up the many listservs and we were responsible to provide updates to the staff either via email or during a staff meeting. Then we would periodically re-assign them, so that everyone became familiar with the various resources available via the Department of Education, regional and state lists, etc.
Cindy Kohlman
Ileana,
The Federal Registers are extremely helpful and I always recommend subscribing to the weekly IFAP distribution list, which provides anything new in the financial aid arena, including training opportunities, new chapters for the Federal Student Aid Handbook, technical information and releases, etc. I make sure that I schedule the time every week to read through all items that are applicable to me and my clients. It does take time but it is worth it in the end in order to stay current!
Cindy Kohlman
Cindy,
It is important to be up to date on all regulations to administer FA funds. IFAP is a wonderful informative tool that assists all of those in financial aid departments.
Because there are many changes in law and regulations, a FAO has to be up-to-date on the Federal Registers. This will ensure that the FAO and the institution comply with changes or new regulatory items.
Federal Registers will keep us up to date on any changes to regulations and new regulations that will rule our procedures at the Financial Aid Office. This will help us to stay in compliance.
Asmir,
My poor eyesight is proof that all the reading required for a financial aid administrator is essential to success and staying current on ever-changing regulations. Being able to break down, sometimes complex rules, into simple terminology for students and staff is equally important!
Cindy Kohlman
Simply to be able to understand it and explain it to the schools students. Since thing are always changing one needs to make sure to stay up to date.
Maria,
A great deal of reading is required to keep current in the financial industry. A great resource is www.IFAP.ed.gov which contains a wealth of information, including all the Federal Registers, etc.
Cindy Kohlman
I believe its very important to be awarder and informed of any Federal Register chance.
Dayanis,
You are absolutely correct! The success of the FAO is based upon his or her credibility and reputation. Once damaged, by giving out incorrect information, it is very hard to gain that trust back. It never hurts to have to tell a colleague or student that you will get back to them after double checking the law or regulation.
Cindy Kohlman
