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Laws, Regulations & Compliance

This competency centers on understanding and applying federal and state financial aid laws, regulations, and policies, including the legislative process and regulatory hierarchy. Financial aid administrators must stay current on compliance requirements, use trusted resources to interpret guidance, and effectively communicate and advocate within the legal and ethical framework of aid programs.

Competency Statements 

  • Financial aid legislative and regulatory knowledge
  • Ethical compliance with Title IV program requirements 
  • Correlation of multiple sources of aid
  • Advocacy in public policy

Explore the Competency

Utilize the PDF version of this competency to share with stakeholders or print and hang in your office.

Knowledge Statements 

  • Legislative and Regulatory Framework

    • Display a basic understanding of civics 
      • Differentiate between a law and a regulation, and subregulatory guidance 
      • Differentiate between a policy and a procedure
      • Understand the hierarchy of different laws and regulations (federal vs state) 
      • Understand how a bill becomes a law 
      • Understand negotiated rulemaking process 
      • Understand the role of each branch of government and how they intersect
      • Understand the federal budget process 
    • Be aware of the historical context of financial aid programs 

  • Ethics and Stewardship

    • Maintain ethical compliance with Title IV program requirements
    • Act as a good steward of federal, state, and institutional aid programs
    • Honor both the spirit and the letter of the law

  • Policy and Program Administration

    • Navigate the interplay between aid programs from all sources
    • Apply financial aid packaging philosophies and allowable flexibilities

  • Advocacy and Communication

    • Advocate in the area of public policy 
    • Understand how to prioritize advocacy and compliance efforts
    • Know who to communicate with and how to approach them effectively

  • Key Resources for Compliance

    • NASFAA's AskRegs
    • FSA Knowledge Center
    • FSA Handbook
    • IRS Publication 17

Task Statements 

  • Monitor and Stay Informed

    • Keep abreast of legislative and regulatory changes
    • Read Department of Education publications and NASFAA's Today's News
    • Attend training from federal partners and professional associations
    • Utilize official resources to find and interpret guidance

  • Apply Guidance to Operations

    • Complete verification and resolve conflicting information
    • Review professional judgment appeals, special and unusual circumstances, and dependency overrides
    • Evaluate satisfactory academic progress status and appeals
    • Determine eligibility for student disbursements
    • Reconcile disbursements with the finance office
    • Certify VA enrollments

  • Maintain Institutional and Program Compliance

    • Maintain institutional and academic program eligibility
    • Prepare ECAR (Eligibility and Certification Approval Report), E-App, and recertifications
    • Update accreditation bodies on changes
    • Respond to OIG/ED complaints
    • Prepare for and navigate compliance audits
    • Monitor and evaluate office processes for regulatory compliance
    • Accurately report financial aid data to external partners

  • Develop and Review Policies

    • Write, implement, maintain, and evaluate office policies and procedures
    • Develop policies for new programs

  • Collaborate and Make Informed Decisions

    • Collaborate with faculty, the development office, and administration on scholarships
    • Make informed, ethical decisions and provide sound advice

Resources, Training, and Professional Development Opportunities

NASFAA Resources: Complimentary for Members and Non-Members 

  • "Off The Cuff" Policy-Focused Podcast
    Delivers updates and insights on policy changes, legislative activity, and federal oversight, helping professionals stay current on compliance requirements and advocacy efforts.
  • Student Aid Reference Desk
    Provides direct access to foundational regulatory documents, supporting quick and accurate navigation of federal laws, guidance, and procedures.
  • Compiled Title IV Regulations
    NASFAA's Compiled Title IV Regulations are available as web pages for each of the major parts of the Code of Federal Regulations, Title 34—Education (CFR 34), that together govern the Federal Student Aid programs.
  • Legislative Tracker
    Allows professionals to monitor federal legislative proposals that may affect aid administration and compliance, enhancing awareness of emerging policy issues.
  • Policy Task Force Reports
    Summarizes the findings of NASFAA-convened groups that examine regulations and propose reforms, giving administrators deeper insight into policy implications and advocacy strategy.
  • State Advocacy Toolkit 
    The State Advocacy Toolkit features detailed steps, materials, and tips to assist NASFAA members in developing and implementing an advocacy strategy and communicating with their state legislators.
  • Statement of Ethical Principles
    NASFAA members are required to exemplify the highest level of ethical behavior and demonstrate the highest level of professionalism.

NASFAA Resources: Complimentary for Members Only 

  • Today's News 
    Keeps aid administrators informed on current legislative and regulatory updates, supporting timely adjustments to policy and practice to maintain compliance.
  • New Aid Officer Training Webinar Series
    This online training series was designed to introduce new aid officers with less than two years of professional financial aid experience to the basic aspects of Title IV administration.
  • AskRegs Knowledgebase
    Provides expert guidance and searchable answers to complex compliance questions, ensuring accurate application of federal rules and regulations.
  • Quick Reference Guides 
    NASFAA provides several quick-reference guides to help student aid professionals quickly look up important student aid information.
  • How-To Guides
    Simplifies regulatory processes by offering step-by-step directions, improving staff confidence and accuracy in handling Title IV requirements.
  • Monographs 
    Explores complex regulatory topics in depth, equipping aid professionals with the nuance needed for advanced compliance and decision-making.
  • Self-Evaluation Checklists (Part of NASFAA's Compliance Engine) 
    Facilitates institutional self-assessment for compliance, helping identify gaps and maintain readiness for audits, reviews, and reporting.
  • Community Resource Library
    Includes peer-submitted templates and policy documents that help institutions implement compliant practices tailored to their structure.
  • Advocacy Pipeline
    Connects NASFAA members with lawmakers to discuss regulatory challenges and propose policy improvements—an essential part of influencing compliance frameworks.
  • Blue Icon Advisors Let's Talk 
    Provides a platform to discuss the implementation of regulations, hear from colleagues on compliance strategies, and troubleshoot issues in real time.

NASFAA Training and Professional Development: Fee-Based Opportunities

  • NASFAA Conferences
    • National Conference
      Thousands of student aid professionals from across the nation attend the NASFAA national conference each year to teach, learn, network, and share best practices. Features sessions on regulatory updates, audit findings, and policy implementation, helping administrators apply laws correctly and remain in compliance.
    • Leadership and Legislative Conference & Expo
      Hundreds of financial aid professionals gather in Washington, D.C., to learn and discuss the issues facing current and future financial aid leaders. Equips professionals to participate in advocacy and policy conversations, helping them understand and influence compliance-related legislation.
    • Virtual Conference 
      The virtual conference features the same great aspects of the national conference in a 100% virtual format. Sessions feature content generated by NASFAA members, NASFAA Training & Regulatory Assistance and Policy teams, and the Department of Education.
  • Live and On-Demand Webinars 
    NASFAA brings education to your desktop via live webinars and recorded sessions that you can view on demand.
  • NASFAA U Online Courses 
    Online courses help you become more proficient, knowledgeable, and valuable to your organization, and allow you to interact with colleagues seeking the same training.
  • Self-Study Guides 
    Written for the independent learner, each self-study guide includes multiple lessons with a variety of exercises to reinforce each lesson. If you complete the Self-Study Guide, you can take the corresponding Credential Test.
  • Professional Credentials 
    Credentials provide a nationally-recognized standard in financial aid training and allow you to earn recognition for your mastery of content. 
  • Certified Financial Aid Administrator® (CFAA) Program 
    The accredited CFAA Program awards the FAAC® designation, acknowledging your critical role in your institution's success and enhancing your professional credibility. 
  • Blue Icon Advisors Group Coaching
    • Policies and Procedures: Helps institutions create or refine policies and procedures to ensure consistency and compliance with federal and institutional regulations.
    • New Director: Helps leaders understand the importance of compliance and communicating that critical function to staff and leadership.
  • Policies and Procedures Builder 
    Guides institutions through compliant documentation of office policies, supporting audit readiness and Title IV alignment.
  • Blue Icon Compliance and Operational Reviews 
    Provides a comprehensive or focused evaluation of your institution's compliance with Title IV rules and action items to correct any issues.
  • Interim Leadership or Staffing through Blue Icon 
    Provides temporary staffing to maintain administrative capability and customer service standards. 
  • Blue Icon Trusted Advisor Executive Coaching
    Supports compliance through consultants who can research issues, provide guidance, and discuss complex situations with you and your staff. 
  • Blue Icon Custom Training
    Provides NASFAA U training to your staff on your schedule, customized with case studies and examples specific to your school. 

External Resources and Learning Opportunities 

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