When an institution chooses to begin participation in the Federal Student Aid Programs, the management team is often unaware of the broad scope of the regulatory requirements to which the institution will need to comply. Naturally, the institution will need to develop policies and procedures to administer Federal Student Aid, but full compliance will require significant revisions to existing policies/procedures campus-wide, the implementation of numerous new functions and activities, and the creation and maintenance of a plethora of consumer disclosures. School administrators often feel like they have made “a deal with the devil” once they realize the broad impact of federal regulation on their institution. It’s not really that bad, but it certainly would be nice to have an experienced guide to walk along with you through this strange and frightening new environment.
Services to New Title IV Applicant Schools
FA Experts® has helped dozens of schools navigate through the federal Title IV application and implementation process. As your guide, we will help your staff not only build the policies and processes necessary for compliance, but will provide thorough training during the time period leading up to the receipt of the federal approval, allowing the institution to “hit the ground running” when the approval is received.
Our service to new schools includes a number of services that are critical to a sucessful implementation:
- Policies and Procedures: FA Experts will work closely with institutional staff and management to help create a customized, compliant Policy and Procedure Manual for your school. The process of crafting the policy statements is so much more than a necessary function, it is an incredibly in-depth learning experience for all of the institution’s staff. We don’t provide pre-formulated one-size-fits-all templates. Our consultants facilitate and coordinate lively discussions among school staff to help create a regulatory framework and then fill in the details from a “keep-it-simple”, customer-focused viewpoint.
- Processing Systems: Schools that are new to financial aid administration have an ideal opportunity to build compliant, efficient, and customer-friendly processing systems for financial aid and student financing. FA Experts staff has years of experience building such systems, and will assist in the custom-design of processes, record-keeping systems, and necessary paper forms based upon your institution’s unique needs and objectives.
- Website and Catalog: When an institution begins participation in Federal Student Aid, numerous changes and additions will be required in both the institution’s catalog and website. FA Experts will work with school personnel to develop revised versions of each of the documents, to ensure final revised versions are complete, ready and available when the institutional approval letter is received.
- Staff Training: Whether or not your school’s staff has previous experience in Federal Student Aid and regulatory compliance, a significant amount of training will be required for a smooth transition. FA Experts will not only provide that training, but will work with your schedule to minimize interference with daily operations (including weekend/evening training if requested).
- TSCM™ Package: These services also include an initial subsription to our Total School Compliance Management™ services, to ensure process continuity and regulatory compliance beyond the initial set-up period.
Priced To Be Affordable for Growing Schools
FA Experts® knows that the main reason for pursuing Title IV participation is to open the school to students who might not otherwise be able to afford the education provided, thus growing the school’s future enrollment. Our Title IV Start-Up and Implementation Services are the solution that allows for a smooth transition to Title IV participation, with a pricing structure that recognizes both the school’s current position and future growth potential. Give us a call at 866-767-5692 ext. 700 and let’s discuss the next major step in the growth of your institution.