Financial Aid Outsourcing
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Why Outsource - Why Us? - Financial Aid Services - Financial Aid Summary
In the competitive market of higher education with increased tuitions cost, and budget cuts, are you looking
for the kind of support that would allow you the opportunity to maximize your enrollment, and ease the tension
of cash flow while maintaining student satisfaction and retention?
Did you know that:
- In 2006, 3.1 million students graduated from the U.S.
- By 2008-2009 that student is expected to increase to 3.9 million
- Unlike in the 1950’s when 20% of students went off to college, today, 65% of college graduates are entering college
- 80% of these will be students of color and a disproportionate will be from poor to modest income families
- In a 2004 survey, it was found that 1.8 million low to moderate income level college students who
would likely quality for financial assistance did not take advantage of financial aid programs.
Many, as we know, failed to submit the FAFSA due to the lack of necessary information, misinformation
about the nature of student aid programs and/or the inability to navigate the financial aid application process.
At SOLUTIONS, we want to assist you in communicating to your students the importance of timely preparation and
walk them through the data collection process so they can take advantage of the educational opportunities available
at your institution. We understand the changing environment by which educational institutions operate and tailor our
services to meet the planning needs of educational colleges and universities throughout the country.
At SOLUTIONS, what sets us apart:
- DJ & Associates was founded by a former college administrator whose primary interest is in helping colleges around the country succeed in the twenty-first century.
- Our goal is to carefully develop an understanding of your existing financial aid processes and listen carefully to feedback offered by you and your staff.
- We offer unique solutions to the challenges you face by offering a range of services that include direct student counseling,
missing document collection, packing and awarding, title IV accounting, and compliance.
- Our services are tailored to meet your individual needs as we believe in operating within your budget.
Our Professional Qualifications consist of:
- A doctorate in Education with over fifteen years of experience in higher education: College Admissions, Registrar, Counseling, and Teaching.
- Twenty five years of direct Financial Aid experience in a college environment.
- Thorough knowledge of the procedures, requirements, and practices of the Department of Education in financial aid.
- Thorough knowledge and familiarity with the requirement of Title IV.
- Experience conducting workshops for faculty, staff and students.
Financial Aid Services Provided:
Financial Aid Processing:
- ISIR (Institutional Student Information Record) Receipt
- Need Analysis/Verification
- Loan Certification/Disbursement and refund processing
Call Center: (one simple call makes a world of difference)
- Direct student communication– via phone, internet (email), mail
- Financial Aid Counseling
- Encourage benefits of early filing
- Reduce application frustrations by answering key questions
- Trouble-shoot problems that may need immediate assistance
- Reduce the amount of traffic through your office
- Offer financial aid options, when needed.
- Maximize enrollment by increasing the number of completed FAFSA
- Data Collection
- Assist in identifying areas of noncompliance
- Ensure continued disbursements to your students
- Increase credibility and eligibility to participate in the federal student aid programs
- Prepare for auditors
Financial Aid Processing Summary
Initial Processing Support Services
- Review of current policies and procedures
- Review of current office structure
- Data collection forms and procedures
- Current technological review
- Establishment of data transmission (your institution, our staff, the DOE)
Student Data Collection
- Student applications can be submitted directly to Solutions or to your institution (which will then be forwarded to us).
Letters will be generated upon receipt of the application or ISIR (Institutional Student Information Record) per your letterhead or Solutions
- After review of information, receipts may be posted on your system or Solutions
- All files will be reviewed for accuracy and discrepancies reconciled before the verification process begins
- Each file will be verified according to federal and institutional guidelines
- Need analysis will also be perform according to federal and institutional guidelines as well
- Award letters can be sent to the students by the institution or from Solutions
- Solutions will send the request for funds to the DOE (Department of Education)
- Institutions can elect to have funds transferred to their own account and write their own checks or generated through Solutions
- A report will be generated to the institution indicating the delivery of funds, students receiving payment and other documentation per request by the institution
- Loan certification will then begin for the Federal Family Education Loan Program (FFELP) or the Federal Direct Loan Program (FDSLP)
- All loans will be submitted electronically to the appropriate guarantee agencies ensuring the fastest turnaround
- Reports including bank statements and government inquiries will be reconciled monthly
- Solutions will maintain office accounting records for the yearly auditing of the institution