Patti Donahue Director, Financial Aid Operations

Managing Subsequent ISIRs FINANCIAL AID | Managing Subsequent ISIRs What is a Subsequent ISIR? Federal regulations – should or must? ISIR records and message classes Binghamton University’s process Tips to create your own process

What is a “Subsequent ISIR”? FINANCIAL AID | What is a “Subsequent ISIR”? 2017-18 ISIR Guide: “A transaction is an interaction between the CPS and a financial aid applicant or a school that changes any of the data on a student’s FAFSA record. Each transaction results in a new ISIR and SAR and is identified by a two-digit transaction number (for example, 01, 02, 03).” A transaction number higher than 01 is referred to as a “Subsequent ISIR.”

Federal Regulations & References FINANCIAL AID | Federal Regulations & References Per Federal Regulations: A school is generally required to review all subsequent ISIR transactions for a student for the entire processing year, even if you verified an earlier transaction. 2017-18 EDE Technical Reference Federal Student Aid (FSA) Handbook AVG, Special Cases, Chapter 5 Administrative Responsibilities, Chapter 2

Important information about ISIR records FINANCIAL AID | Important information about ISIR records 2017-18 EDE Technical Reference: Schools must obtain ISIRs for all eligible students Develop an ISIR Request Process Review ALL Pushed ISIRs – your school must review all pushed ISIRs and assess any potential impact to your students’ aid eligibility, regardless of whether or not you select the “daily” ISIR distribution.

ISIRs sent to school’s SAIG mailbox using message classes FINANCIAL AID | ISIRs sent to school’s SAIG mailbox using message classes Default delivery or per school request Daily ISIRs – IDAP18OP, IDSA18OP, and IGCO18OP Requested ISIRs via datamart – ISRF18OP All schools receive pushed ISIRs Automatically Pushed ISIRs – IGSG18OP, IGSA18OP System generated ISIRs (i.e., C Code changes, Verification Group changes, and/or EFC changes).

Consistency of information and conflicting information FINANCIAL AID | Consistency of information and conflicting information FSA Handbook, FSA Administrative & Related Requirements, Chapter 3, page 2-37. “A school must have a system of identifying and resolving discrepancies in all FSA-related information received by any school office. A school must resolve discrepancies for all students ,not just those selected for verification. Resolution includes determining what information is correct and documenting the school’s findings in the student’s file.” Such a system must include a review of: The SAR/ISIR for a student. Even if a school has already verified the information on a student’s SAR/ISIR, it must review all information on subsequent SARs/ISIRs.

Subsequent ISIR guidance FINANCIAL AID | Subsequent ISIR guidance 2017-18 FSA Handbook, AVG, page 113 “First determine if the EFC or the “C” flag has changed or if there are new comments or NSLDS information that impacts eligibility for aid. Also, check any updates or corrections or whether the verification tracking group has changed. If the EFC has not changed and there are no change in the “C” flag, tracking group, or NSLDS information, no action is generally required. If the EFC does change but it either doesn’t affect the amount and type of aid received or the data elements that changed were already verified, no action is required. But if the EFC changes and the pertinent data elements were not verified, then you must investigate. Of course, any time the “C” flag changes or NSLDS data have been modified, you must resolve any conflicts.”

Action required or not required? That is the question FINANCIAL AID | Action required or not required? That is the question Change to EFC/aid - action required. Change to verification or verification group – action required NSLDS change or new “C” flag, action required No change to EFC/aid or verification group – no action required Change to EFC/aid, data items changed but were previously verified – no action required

IT Support – Created Program/Reports Banner School FINANCIAL AID | IT Support – Created Program/Reports Banner School APPWORX Scheduled Job SQL Reports Output files from data load sent to reports server. Reports are used to manage subsequent ISIRs: EFC Change Report ISIR EFC No Change with New C Flag Report Prev EFC LT COA with EFC Greater than COA Verification Group Change IRS DRT satisfied

Binghamton University’s process FINANCIAL AID | Binghamton University’s process Change to EFC/aid, not verified - action required. Request all verification items. NSLDS change or new “C” flag, action required. Forward to Counselor for review/action. Change to EFC over COA, action required. Manually load ISIR to current record, and update package. No documentation required – unsub eligible only. Identify IRS DRT transactions, action required. Satisfy federal tax requirement(s) for parent/student.

Summary of procedures/practices: FINANCIAL AID | Summary of procedures/practices: Load ISIRs, per program parameters. Information for identified students appear on report for review. Report reviewed by staff and verification items manually requested, if applicable. Subsequent ISIR loaded manually as current, when appropriate. Student package revised, as applicable.

Tips and notes Know how your school manages the ISIR load FINANCIAL AID | Tips and notes Know how your school manages the ISIR load Understand your IT resources/support Decide on a timeline and who should be involved Create a working document to help IT create a process/reports Test, test, then test again – be sure you are identifying all the subsequent ISIR transactions that must be reviewed.

Questions?

FINANCIAL AID | Contact Information Patti Donahue Binghamton University Financial Aid & Student Records 607.777.6358 pdonahue@binghamton.edu