21st Century Student Financial Aid System Improvement Act of 1997

[AI summary unavailable — showing source text] 21st Century Student Financial Aid System Improvement Act of 1997 - Amends the Higher Education Act of 1965 (HEA) to establish a performance-based organization (PBO) in the Department of Education as a discrete management unit responsible for managing the information systems supporting the student financial assistance programs authorized under HEA title IV. Authorizes appropriations. (Sec. 2) Vests management of the PBO in a Chief Operating Officer (COO) appointed by the Secretary. Directs the Secretary and the COO to develop a performance plan for the PBO establishing measurable goals and objectives for the organization. Requires the COO submit an annual accountability report to the Secretary and specified congressional committees. Requires the PBO to establish an annual performance management system which: (1) maintains individual accountability; and (2) strengthens its organizational effectiveness by providing for establishing goals or objectives for individual, group, or organizational performance, and using performance assessments as a basis for granting employee awards, pay adjustments, and other appropriate personnel actions. Grants the PBO certain procurement flexibility. A…