As the new academic year begins, it is important to review the legal obligations of the financial aid officer (FAO) regarding the administration of the Title IV and state funded financial aid programs. The following will address in general terms those duties and provide a context for the summaries of articles which will follow in the coming months.

The federal government considers those individuals who have direct and indirect authority over the Title IV funds to be a “fiduciary” as it relates to the management of those funds. Read more »

In this column, I have, in the past, emphasized the legal point that the financial aid professional and the institution have a fiduciary responsibility as it relates to the management of the Title IV programs. Simply put, this requires that the funds be managed with the highest standard of care. It is an affirmative burden which mandates that the financial aid professional and, by extension the institution, take whatever steps are necessary to insure that administration of the programs is in compliance with all applicable Title IV rules and regulations. Read more »