Impact of Efficiency
Discuss the impact to both the college and students of having an efficient Financial Aid Office.
Marie,
Your thoughts are very valuable when evaluating the student experience. Most students appreciate efficiency in processing of their financial aid, especially when it is handled with accuracy. The addition of courteous and problem solving on behalf of the student adds to the student experience through strong customer service. All aspects are addressed in your response.
Best wishes in your continued online education process.
Sincerely, Chyrl
Efficiency is the summary of all the key points in giving services. You know your product, you do due diligence, you are courteous; you are a problem solver, giving the student the impression that you are there especially to server her/him.
Joyce,
I apologize for my delayed response; however, I have been out ill.
Your comments on efficiency are excellent and you have a great grasp of what is required to properly handle students. The process of efficiency has an overall impact to all aspects of the student's experience not only financial aid.
Sincerely,
Chyrl
An efficient Financial Aid Office is crucial for the smooth operation of the educational institution in the following ways:
1. Provides income for the institution and the student.
2. Without financial aid, many students could not afford an education, which would reduce the number of enrolled students.
3. If there are constant errors in the financial aid office, it could affect the retention of the student, the reputation of the institution, and even the existence of the institution.
4. Allows financial resources to be spent on other aspects of education by not requiring additional staff to constantly correct errors in the financial aid office.
Jose,
Efficiency definitely starts with the first student interation. It has been my experience that the clearer the instructions and request the greater the student's experieince will be when interacting with the different processes. It is important to insure that all of the documentation from the student (and/or parent/spouse) is accurate upon receipt.
Your participated in this process is appreciated.
Sincerely, Chyrl
We only have one shot at a first impression. If the first experience the student has is a bad one, that is the one that will influence the student's opinion not only of the department but the school itself. If the student is given all the pertinent information in a manner which they can understand and the paperwork is filled out accurately, it will affect the time it will take for the funding to come in. This in turn will affect bad debt in a positve manner.
Jennifer,
You definitely understand the impact this area has on both the student (parent) and college. Your evaluation was excellent.
It is extremely important for students (and parents) to feel comfortable in the FA process and this will lead to an outstanding reputation in the community.
Thanks, Chyrl
The impact to both the college and student having an efficent Financial Aid Office is 1) Its less for the student and parent to worry about. If they feel comfortable asking questions and asking for help, that just makes the Financial Aid process less of a hassle. 2) for the college, it not only gives the college a better reputation, but also,the percentage of students achieving their goals to graduate become higher.
Lola,
I believe this was submitted twice and I have already responded to this discussion.
Chyrl
Lola,
I agree that the FA process is critical to the the school's success and close interaction between all areas will make for a more successfully experience for the student. It is important that each time anyone works with the student to answer a question that the appropriate documentation occurs. It is critical to the student that all areas have access to documentation pertaining to the student to insure that unified and consistent answers are provided to the student.
Thanks, Chyrl
A negative impact can effect both the student and the college if the financial aid office is not run efficiently. The problem that can occur is miscommunication, misdocumentation and frustration with the student if the FA process is not ran smoothly. Which then results in a less than positive student experience and the school having a bad reputation. I believe the the FA process is critical for a school's success.
A negative impact can effect both the student and the college if the financial aid office is not run efficiently. The problem that can occur is miscommunication, misdocumentation and frustration with the student if the FA process is not ran smoothly. Which then results in a less than positive student experience and the school having a bad reputation. I believe the the FA process is critical for a school's success.
Melanie,
Your process seems to be a great way to insure students understand that FA is not a one time experience. I implemented some of the same approach when I was a FA Director and my students knew they would be particpating in their FA process through graduation.
Thanks, Chyrl
I agree, giving the students a positive experience does help in getting students to return with questions or when additional documentation is required such as verification.
In our initial interviews with students, we always bring up the fact that there may be a possibilty that they will have to provide additional information later to continue processing their FA. I also take the time during the new student orientations to remind them that FA is an ongoing process. We may need them to come back a few times during their program for repacks, crossover, etc... I have found that giving them this information up front makes it easier to collect any additonal documents or information needed. They aren't intimidated and know that I am continually working to help them finance their education.
Running an efficient Financial Aid Office gives the student more confidence in the school. Allowing more time to focus on their studies and less time thinking about paying for their education
Ava,
If FA departments handle their students in an efficient manner, the students will have a positive experience in FA. Also, the students will be apt to return to the FA department when they have questions or concerns.
Do you have any best practices that you would be willing to share?
Thanks, Chyrl
No efficiency in FA department generally results in no students at your instution.
A bad reputation is hard to repair.
I agree that confidence is the main priority to enforce in a prospect student. For many students, Financial Aid is the only way they have to pay for their education. Therefore schools must have an efficient finiancial aid office demonstrating their capaiblites and establishing this security they need. And at the same time giving the school a good and strong reputation for the years to come.
Jaime,
The student's goal should be about completing their education and they should not have to be concerned about the FA office completing their award package. The efficiency of the FA will build confidence in the student about their entire educational experience.
Thanks, Chyrl
