Posted: January 13, 2021
Author: Federal Student Aid
Subject: Fiscal Year 2020–24 Strategic Plan Published
Today, we are pleased to announce that our Fiscal Year (FY) 2020–24 Strategic Plan was finalized and published at StudentAid.gov/strategicplan.
The Higher Education Amendments of 1998 established the U.S. Department of Education office of Federal Student Aid (FSA) as the federal government’s first performance-based organization (PBO). The PBO legislation directs us to publish a new strategic plan every five years to illustrate how we will modernize the delivery of the federal student aid programs and identify steps necessary to achieve our strategic goals.
The five-year plan discusses the following strategic goals:
- Goal 1: Empower a High-Performing Organization
- Goal 2: Provide World-Class Customer Experience to the Students, Parents, and Borrowers We Serve
- Goal 3: Increase Partner Engagement and Oversight Effectiveness
- Goal 4: Strengthen Data Protection and Cybersecurity Safeguards
- Goal 5: Enhance the Management and Transparency of the Portfolio
The finalized plan comes after a 30-day public comment period that ended Oct. 23, 2020. We referred all comments to the relevant business areas for consideration and revised the strategic plan based on feedback received during the public comment period. We will further assess the impact of the coronavirus (COVID-19) emergency and recently enacted legislation on strategic plan performance measures and annual targets for future fiscal years.
We appreciate the stakeholders who provided comments and participated in focus groups and information sessions related to our draft five-year strategic plan. Stakeholder engagement helps inform our efforts to deliver solutions that benefit students, parents, borrowers, institutional partners, employees, and taxpayers.
Federal Student Aid Strategic Plan FY 2020–24
Sources:
IFAP Announcement: Fiscal Year 2020–24 Strategic Plan Published
Federal Student Aid Strategic Plans and Report