What are the Federal Requirements regarding institution Policies and Procedures?
How do other schools manage their financial aid department so efficiently?
The institution is required to follow specific guidelines when implementing its polices and procedures that relate to Federal Student Assistance (Title IV Programs). FAS will assist the school in creating and maintaining these policies. FAS’ assistance has proven to be very valuable when policies and procedures become outdated–especially where regulations are clarified or updated on a regular basis. Therefore, what was an acceptable policy or procedure last year may be unacceptable this year. An example is the constant flux of the Department of Education’s Return of Title IV Fund Policies and Calculations. Schools have had to stay on top of numerous changes to these refund policies and procedures.
FAS can also introduce improved or updated procedures to help a school’s financial aid department function more efficiently with lower costs of money and time. We offer more than one solution on how to reduce workloads and give students more attention. Upon request, FAS will review how your financial aid procedures work and suggest improvements which sometimes will be one small change that can make a world of a difference!