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dealing with living expense money

that becomes an issue between the students and financial aid

Our environment

Well I share my office with the Student Services Counselor and Student Accounts so my appointments are flooded with present students and their complaints. I plan to propose having a meeting room for my counseling. So students won't be distracted with possible negative activities while trying to focus on their financial aid.

Sending Out good Credit letters

Does anyone feel like this will actually help a student continue paying on a loan?

Tracking, Tracking, Tracking...

For our upcoming graduates, we know at least 3 months out who they are. Once we have identified who they are we tracking (via excel spreadsheet) when the one-on-one exit interview is scheduled, if the students missed, and then when it is completed. We require (audit and compliance checks) that 100% of our graduates have an exit interview prior to completing their finals. We even have a individuals whose primary job is to make sure that the exit is completed and completed timely.

Gathering Information

Every other month our company goes to great lengths to gather current address information from our students. We require that ALL student complete an address update form that is then submitted to our home office for input (if changes) into our company wide information system (all employees have access). We allow two weeks for submissions of these updates, and the submissions of changes are tracked on a company basis. This has greatly improved our ability to communicate to our students as well as shows the students just how important it is to update the school with address changes.

Meeting the Student

A couple of things we are doing at our campus to impact default rates. We are making sure that the new students meet with the finance processors, and the student loan specialists at the point of enrollment. The student may not remember much of the day, however we make it a point to give the student our business cards, as well as a welcome packet which discusses loan responsiblity. Within the first 45 days of the student starting we make sure our student loan specialist are in the classroom conducting a Financial literacy workshop. This workshop talks about budgeting, as… >>>

Verifying References

How do you actually verify that the references have been updated and more importantly regularly verified? It seems like a task that will get dropped.

A quick self-assessment

If you’ve just completed a training course, please consider responding to the three self-assessment questions below. Your responses will help you and other participants to get a head start on the transfer of training process.

 

  1. What have you learned? Write a brief summary of what you’ve learned.

  2. How can you apply it? List one or two ways in which you can apply what you’ve learned in your professional practice.

  3. What support do you need? Identify any support or additional information that you may need to apply what you’ve learned.

Student Retention

Much of this module centered on repetition of the message. All makes sense. However when dealing with non-traditional student base, most with very little support (financial or emotional) from their home, isn't there a fear of too much constant emphasis on financial obligation given them more reasons to quit school.

Compliance concern

The use of proper procedures,minimize compliance concerns

Dealing with parents special requests...

What would you do if a studen't parent tell you she will provide all the necessary documentation to complete the student's verification process but the student cannot has access to those documents(eg. divorce documents, parent's income documents, etc.)?

Treatment of funds when a student withdraws

When a student drops/withdraws from his/her courses, how long does the University have to return Pell Grant funds?

Financial Aid Disbursements

Once the student has completed his/her financial aid, how long should it take for funds to be disbursed to the student?

Rushing causes mistakes

I have a hard time with my staff not taking their time and making careless mistakes when processing/submitting files. The volume seems to push them to want to rush, which causes more problems in the end.

Exit Interviews

I feel that exit interviews are extremely important, but yet it is rarely possible to set up with student's that withdraw from school. How would you suggest setting up exit interviews for withdrawn students?

Compressing processing timeline any suggestions?

The school I work for is a 10-month program and we only start one class each September. We also have rolling admissions, so it is very common for a student to apply and be accepted in October then wait to start in September the following year. Typically, a student is given two weeks to apply after they completed their admissions interview, then within a week of their acceptance I call them to do an initial FA overview to discuss the FAFSA and other funding options. From this point forward either myself or someone in the FA office follows up with… >>>

The Auditors Are Coming!

What is your greatest concern in dealing with audits or auditors? How do you handle that concern?

Financial Aid Reporting

How beneficial is reporting to you as it relates to meeting your students' needs? Please explain your position.

Are Processes In Your Business Office Outdated?

What process(es) in the Business Office do you find to be cumbersome or antiquated? How would you change these to be more beneficial to the staff and students?

The Most Important Characteristic of Financial Aid

Which of the three items - Timeliness, Accuracy or Service is most important to you in your process? Provide an explanation on why you selected the specific item.