Death, Taxes, Program Reviews, and Audits

As the old saying goes, “there are but two things certain in life—death and taxes.” For those who administer federal student aid under Title IV of the Higher Education Act, there is another certain fact—at some point in your career you are likely to be visited by the U.S. Department of Education (ED) for either a Federal Student Aid (FSA) program review or an Office of Inspector General (OIG) audit. While either type of review can be daunting, there are some proactive measures that any institution can follow to minimize disruption to your daily operations and to maximize the possibility of a positive outcome. This article is intended to provide some useful background to newer financial aid directors who may not have yet experienced a program review or OIG audit, and to offer some practical tips and advice for handling such reviews when they occur.

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