The Federal Regulations require institutions to create and maintain dozens of written policies, and in most cases to have appropriate written procedures to implement those policies. But honestly, the daily pressures of processing and student service rarely allow school personnel the time to create detailed written policy and procedure statements – let alone maintain them. If you then consider that maintaining a full set of policies for all of the Title IV compliance regulations requires the collaboration of at least half a dozen institutional departments, it becomes understandable why schools often need to scramble to update their policies in the few days between the review announcement and the arrival of the auditors…
Title IV Compliance Policy and Procedure Manual
Written policies and procedures are a not only a critical component of federal student aid compliance, but are also an equally important part of process effeciency. Your trusted FA Experts® team of compliance professionals can create a customized policy & procedure manual for your institution’s Financial Aid Administration and all of the Title IV regulatory issues in other departments (Admissions, Academics, Business Office, etc.).
Your manual will be designed based upon existing practices, but nothing will be taken for granted. Through discussions with appropriate department staff, your skilled FA Experts® consultant will help school staff re-think existing policies, procedures, and paperwork to maximize efficiency and customer focus while maintaining regulatory compliance. Your finished manual will include all policy statements specifically required under federal regulation, policies and procedures necessary for the effective administration of federal student aid, and policies related to other functional areas that are affected by federal student aid regulation.
FA Experts® is highly experienced in helping institiutions re-engineer their policies and processes to create a synergy between regulatory compliance, process efficiency, and customer service. If your institution could benefit from this process, please give us a call at 866-767-5692 ext. 700 and let’s get started on building a highly-effective, customer-centric approach to compliance.