How to handle a U. S. Department of Education Program Review Risk Assessment
It begins with a phone call from the U.S. Department of Education. You heard that FSA was increasing the number of program reviews it conducts, and although you hoped that your school would be at the bottom of their list, it was simply inevitable that it would happen sooner or later.
You’ve just been informed that you have two weeks to prepare! You say to yourself “Boy, am I lucky”…not-so much.
After you hang up the phone, your brain kicks into overdrive;
Why were we selected?
Are we prepared for this?
How should we prepare?
What documents, publications and records will they need?
What if there are findings?
What if they are systemic findings?
What if there are liabilities?
The best way to have a successful Program Review is to Always Be Prepared.
Here are the top eight things you can do
• Create an atmosphere of compliance and accuracy
• Designate someone on your staff to be responsible for compliance
• Conduct “mock” internal program reviews
• Shop your school
• Train your staff
• Make sure records are well maintained and organized
• Have policies, procedures and consumer information that are up-to-date and accurate
• Make sure information is shared among different offices
We specialize in empowering college operations and administration to meet the demanding requirements of administrative capability in Federal Student Aid and Accreditation. We’ve been helping schools navigate the complex regulatory landscape of Post-Secondary Ed for close to two decades and rest assured, we can help can help you too.
Whether you need assistance with training, policy development, consumer information, preparing for or responding to a program review, we’re here to help.
Gain real insight about your exposure to possible audit findings by taking my program review risk assessment. Get in touch with us today to learn more.