The FSA Five-Year Strategic Plan is a roadmap for FY 2004-2008 that identifies five long-range strategic objectives, tactical short-term goals, and performance management initiatives. In working toward the goals outlined in the plan, FSA will address a number of key challenges, including legacy system migration, business process re-engineering, cost management, product and service innovation, and customer satisfaction. FSA is undertaking many important initiatives to fine-tune its aid delivery services to its diverse customer base. FSA has seen the student loan portfolio steadily grow while the ratio of the default portfolio to the non-default portfolio has decreased. Improved financial management and internal controls have resulted in back-to-back clean audits, and FSA?s business continuity and disaster recovery period has been reduced to less than 72 hours. Includes three appendices.