BEST SELLING AUTHOR: D. NASH
The Financial Aid Blueprint:
3 Steps You Should Take to Fix Your Financial Aid Operation
The financial aid office is very different than any other office on your campus. Its operation is vital to your institution. Managing a financial aid office is a complex and highly technical endeavor. Your financial aid office not only has the responsibility to coordinate and package awards for your students, but also has a heavy regulatory burden to comply with regulations from Federal and State Government. Each year, the work of the financial aid office becomes more complex as new Federal and State regulations become effective. As a result, financial aid offices rely heavily on the use of various information systems to help them coordinate awards and maintain compliance.
There is a myriad of systems that are used within the financial aid office each day. There are Federal and State Government systems, as well as your campus information systems. These systems must be utilized simultaneously to perform daily financial aid functions. They are complex and must be integrated to share data between the financial aid office, the Federal and State Governments, and other offices on your campus. Operating these systems takes time and expertise to manage and automate properly. In addition, staffing with advanced technical skills is needed within your financial aid office to work and manage the additional technology. Problems within the financial aid office have been known to lead to disastrous consequences that include loss of staff, student protests, Federal audits, and in the most extreme cases: school closures. In almost all of the cases, financial aid problems can be traced back to issues with systems and staffing.
Unfortunately, financial aid problems are costly to fix. In some cases, rehabilitating a poorly operating financial aid system can cost more than the original purchase price of the system itself. While it is impossible to address every issue that you may encounter, this White Paper will address some of the most important regulatory and system issues that you should look out for.
READ THE FULL WHITEPAPER HERE:DOWNLOAD THE FULL PDF WHITE PAPER: THE FINANCIAL AID BLUEPRINT