Verification. It's one of the most basic - and most critical - roles of the student aid office. Ensuring the accuracy of the data used to calculate a student's expected family contribution (EFC) is a function that applies to all the major Title IV programs and generates questions throughout the year. The nuances can be especially challenging. Financial aid professionals often have difficulty distinguishing between "verification" and "conflicting information." In addition, HERA (the Higher Education Reconciliation Act) changes several need analysis formula data elements. For these reasons, Verification is the topic for NASFAA's 2006 Fall Training.
The training also includes a brief facilitated discussion allowing participants to share their concerns about implementing the new Academic Competitiveness Grant and SMART Grant programs authorized by HERA.
Workshop Goals
Participants will be able to:
- Distinguish between verification and resolution of conflicting information.
- Identify the rules and regulations associated with verification and resolution of conflicting information.
- Discuss related compliance issues identified by NASFAA's Standards of Excellence Peer Review Program.
- Identify the impact of the changes to need analysis mandated by HERA.
- Examine institutional policies and procedures required by regulation as well as those necessary to conduct a compliant verification process.
- Review verification codes with emphasis on the recalculation option, including a brief review of the upcoming changes to the EFC formula.
- Share their experiences and concerns regarding verification.
- Develop strategies and use tools received to achieve compliance with verification requirements.
- Discuss what impact the grant programs authorized by HERA may have on verification policies and procedures, and discuss concerns and questions participants have concerning these new programs.
Participants will take home practical, informative handouts and reference materials.
For information about a workshop near you, please visit the List of Workshops page at www.NASFAA.org/Annualpubs/FT06/workshops. The sites and dates are updated as they become available. If your state or region is sponsoring a NASFAA workshop, contact your association directly for information about how to register. Note that the state associations of Florida and Virginia elected not to participate in the NASFAA workshop series.
NASFAA's Value and Value Plus Members will receive directions on how to download an electronic copy of the Fall Training materials after all the state and regional workshops have taken place. Materials are intentionally provided after the in-person training because the state and/or regional association trainers provide valuable information and insight into the actual training documents. The materials are meant to supplement, not replace, the state and regional training workshops. The ability to download and share copies with others at your institutions is one of the many benefits of the Value and Value Plus memberships.
In addition, after all state and regional workshops are completed, NASFAA will sell any remaining printed materials, while supplies last. Ordering information for 2006 Fall Training materials will be announced in Today's News. The Fall Training Web site is located at http://www.NASFAA.org/annualpubs/ft06/index.html.
Posted September 25, 2006 on www.NASFAA.org, the Web Site of the
National Association of Student Financial Aid Administrators (NASFAA).
Copyright 2006. Redistribution to non-NASFAA institutions is prohibited
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