The conclusion of the Quality Assurance (QA) program means change is afoot for many schools. Change is always difficult; forced change even more so. But there are positives for schools in this scenario. We sat down with Amy Glynn, our resident Financial Aid expert, to discuss.
What was the No. 1 concern QA schools likely had upon hearing the announcement that the QA program is concluding?
AG: The number one concern for schools is going to center around the increased administrative burden that moving away from the QA program will cause them. Updating policy and procedures for verification, updating system configurations to match requirements, training staff on the “new verification” process, and managing increased verification volumes—it may feel overwhelming for some.
Increased administrative effort is probably in a dead heat with increased verification volume for the number one concern. On average, QA schools are 10 times the size of non-participating institutions. This means that even a minimal increase in the percentage of students selected for verification can have a significant impact on the school, potentially resulting in thousands more verifications. Ensuring that there are efficient procedures in place for students will be key when trying to keep verification review cycle times down.
Are there other benefits to this change that some schools might be overlooking?
AG: Yes, there are a number of benefits.
- Standardization of the verification process across all institutions will result in a more consistent process for students who are applying for financial aid at multiple institutions.
- Schools will be able to take advantage of a wider variety of training tools available for staff as it relates to verification. Examples include State conferences, Regional conferences, and NASFAA online courses.
- Institutions will no longer have to develop or maintain complex institutional methodologies nor will they have to report on them.
- Not having to evaluate the effectiveness of their selection criteria means schools will have additional free time.
- The Financial Aid community will have a standardized process.
Proactive schools may already be looking for Software as a Service (SaaS) provider to help them make the most of this time of change. Why should they consider CampusLogic?
AG: CampusLogic helps financial aid offices maximize their time, resources, and provide an optimal student experience. Our platform can make the QA transition easier—and can help institutions stand above the crowd in the delivery of efficient, effective financial aid services. CampusLogic helps financial aid offices:
- Move to a mobile platform
- Take advantage of student and parent e-signatures
- Simplify the verification requirements configured in the SIS or FAMS.
- Take advantage of an out-of-the-box rules-engine to create a custom and individualized student task list based on dependency status, verification group, C Codes, and DRT flags.
- Use a survey style data collection tool to auto-generate verification forms.
- Generate V4/V5 reports that can be directly uploaded to FAA access in batch.
- Report on students who experience a change in verification groups, ensuring you stay in compliance with the new tracking group.
Amy Glynn, CampusLogic’s resident Financial Aid expert, also hosted a webinar exclusively for QA schools transitioning to federally-defined verification. Watch a recording of the webinar and learn more about using technology to simplify this transition.