FP On-line Transaction Processing via FMS.
FSA's Financial Management System (FMS) is a centralized system for all FSA financial transactions. It allows FP users to: collect, process, maintain, transmit, and report data about financial events ON-LINE. It also provides functionality to support financial planning and budgeting activities, accumulate and report cost information, and the preparation of financial statements..
- The following FP applications can be accessed by clicking on the 'GAFR', 'LaRS', 'LEAP/SLEAP', or 'LAP' icons on the right.
- All FMS users are required to submit updated FSA/FMS Security Forms annually with the U.S. Department of Education
Guaranty agenices use the Guaranty Agency Financial Report to request payment from and make payments to the Department of Education (ED) under the Federal Family Education Loan (FFEL) Program. Prior to entering GAFR data electronically users are required to:
-
Submit a hardcopy Organization Participation Agreement (OPA)--GAFR(Form 2000) [Word - 5 pages] to FSA; and
-
Submit the required FSA/FMS Security forms.
- Financial Management System Guaranty Agency User Guide (PDF - 52 pages)
Lender Reporting System (LaRS)
Lenders are required to submit quarterly student loan portfolio data to receive payments and to report origination/lender fees due to the Department of Education (ED). These payments are based on the transmission of valid financial data via the Lender Reporting System (LARS). The LARS integrates access to lender data through one system and creates ad hoc query analysis functionality. Prior to entering LaRS data electronically either by direct data entry or file transfer, you will be required to:
- Submit a hardcopy Organization Participation Agreement (OPA)--LARS [Word - 5 pages] to FSA;
- Submit Lender Application Process (LAP) demographic data via the LAP icon on the right; and
- Submit the required FSA/FMS Security forms.
NOTE: If it is impossible at this time to submit data via the new ON-LINE system, you are required to submit HARDCOPY LAP [Word - 10 pages] and LaRS [Word - 13 pages] forms.
After submitting your LARS, should you be notified that you owe ED money, please submit fees due using the LARS Remittance Form.
All other required hardcopy GA or lender forms should be completed and mailed to:
U.S. Department of Education
GA and Lender Reporting
P.O. Box 2768
Washington, DC 20013-2768
State Education Agencies use the FMS LEAP On-Line System to apply for funding under the LEAP and SLEAP programs, as well as performance reporting on funds awarded to states.
NOTE: For additional information on any of the above applications, please see our Data Exchange site.
GAFR--Form 2000
LaRS (formerly ED Form 799)
LEAP/SLEAP
LAP
