FP On-line Transaction Processing via FMS

What is 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’ or ‘LARS’ icons on the right.

  • All FMS users are required to submit updated FSA/FMS Security Forms (found in the box on the right) annually with the U.S. Department of Education.

If you have any questions regarding FMS, contact the FMS Help Desk at 1-800-433-7327, 7:30 a.m.–5:30 p.m. Eastern time (ET), Monday through Friday, excluding federal holidays. Questions can also be emailed to the address below.

GAFR-Form 2000

Guaranty agencies 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:

Lender Reporting System (LaRS)

Lenders are required to submit quarterly student loan portfolio data to the Department of Education (ED), Financial Management System (FMS). These invoices are subsequently validated by the LaRS application. 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:

NOTE: If it is impossible at this time to submit the LaRS via the online system, you are required to submit a hardcopy LaRS [PDF - 20 pages] form.

NOTE: For additional information on any of the above applications, please see our Data Exchange site.

* The Department of Education strives to make all content accessible to everyone. While this document does not currently meet the standards of Section 508 of the Rehabilitation Act of 1973, as amended, Federal Student Aid is working to create an accessible version. If you need access to this document before the accessible version is available, please contact the Information Technology Accessibility Program Help Desk at ITAPSupport@ed.gov to help facilitate.

Last Modified: 03/14/2023 • Published: 03/28/2021