The future of financial aid is changing. According to Inside Higher Ed’s article, Financial Aid’s Future, congressional spending cuts, legislative changes to the Higher Education Act, and the rise in online instructional platforms will lead to a shakeup in the federal financial aid landscape.
While complex, these changes are designed to improve the financial aid system. As with every industry, change is inevitable and automation is the key to staying ahead of the curve and in demand.
What is your school doing to automate financial aid processes and increase overall financial aid quality? Have you considered:
- Automating packaging within your student information system (SIS), utilizing standard rules to package basic aid and generate exceptions?
- Automating the financial aid reconciliation process to compare systems, identify discrepancies, and generate reports to manage the process?
- Automating financial aid quality review processes with systematic checks, error reporting, and trend analysis?
- Automating the financial aid verification process using a web-based portal for students and administrators?
If you are considering taking steps to automate your financial aid department, or have decided to automate but are unsure how to approach the massive undertaking of transitioning to automated processes, CampusLogic is here to help. We have extensive experience in financial aid quality and automation.
- We can provide experts in financial aid SIS configuration and optimization to align the system with your process and automate many packaging tasks.
- We can perform financial aid reconciliations in compliance with federal regulations using automated system comparisons and focusing efforts on exception processing.
- We can conduct ongoing daily, weekly, and monthly financial aid quality reviews utilizing SmartTrac, our proprietary quality assurance software.
- We can automate the financial aid verification, C-code, and reject code processes utilizing StudentVerification.com, a leading automated verification solution for schools.
In the tumultuous landscape of financial aid, it is not enough to be in the planning stages of automation. Student demographics are changing, state funded grants and loans may cease to exist, and schools will have to reduce costs to ensure success. CampusLogic provides the automation needed to enable your school to cut costs, increase quality, and provide excellent student service. Contact CampusLogic immediately by calling (877) 259-9137 to learn more about our financial aid quality and automation solutions.
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