Chyrl Ayers

Discussion Comment

Maria, It is important that your files selected for sample are organized in the same format and all documents not part of the file is provided with the student files. If your auditior provides the list ahead of time you should have the files pulled (or if you store electronically have the files in the appropriate area) and ready to go for the review process. I would have my Policy and Procedure Manual available so the auditors will know how your team processes financial aid requirements. If your campus files a FISAP I would have that pulled and available for… >>>

Chyrl Ayers

Discussion Comment

Financial Aid Reporting

Maria, Great point. Our focus should always be on the student's experience from enrollment through graduation. Reporting should be used to ensure timely delivery of funds, reporting of funds and reconciliation of the programs. Sincerely, Chyrl Ayers

Chyrl Ayers

Discussion Comment

Financial Aid Reporting

Sergio, This is a great practice to have in place. Your reconciliation process will insure that postings to student's account history is accurate and close the loop by balancing to the amount reported in COD. I would recommend that you perform a reconciliation of the cash received by fund type to the G5 draws since this would close the loop from COD to cash draws. Sincerely, Chyrl Ayers

Chyrl Ayers

Discussion Comment

Financial Aid Reporting

Maria, Reporting can be a great tool for communicating with other departments within the school. It is good to evaluate the tools and ensure the reports are delivering the best results for students and staff. Sincerely, Chyrl Ayers

Chyrl Ayers

Discussion Comment

Are Processes In Your Business Office Outdated?

Maria, It is important to know that your internal systems and processes are current and performing efficiently. This will ensure that students are handled in the most prudent manner and records are accurately maintained. Sincerely, Chyrl Ayers

Chyrl Ayers

Discussion Comment

The Most Important Characteristic of Financial Aid

Maria, This forum question has resulted in numerous good and consistent answers. I believe all participants are in agreement on the importance of service. Also, that service goes hand-in-hand with ensuring students and parents have successful experiences when dealing with the FA Department. In my opinion timely and accurate processing with exceptional customer service is critical to all departments within the school. Sincerely, Chyrl Ayers

Chyrl Ayers

Discussion Comment

Are Processes In Your Business Office Outdated?

Wendy, It is important that you and your team evaluate periodically the system and processes to ensure compliance and efficiencies. Any time you can incorporate electronic processes you have a better chance of reaching younger students. It is important to make the process fun and filled with important and beneficial facts related to their loan process. Good job! Sincerely, Chyrl Ayers

Chyrl Ayers

Discussion Comment

The Most Important Characteristic of Financial Aid

Wendy, Several students in this forum have made similar comments, especially related to the service aspect of the Financial Aid office. It is very important that your students and parents are confident and comfortable sharing information with the FA team. The discussions are often very personal in nature and the student must know that they can trust their FA team. Best wishes in your continued online FA process. Sincerely, Chyrl Ayers

Chyrl Ayers

Discussion Comment

The Most Important Characteristic of Financial Aid

Craig, I like the way your framed your response. As you can see from the many post on this topic - most agree all three play an important role in the success of the financial aid office. It is critical to ensure that all students/parents are confident in timely and accurate service provided in a professional manner. I am looking forward to other post from you. Best wishes in your continued pursuit of online FA knowledge. Sincerely, Chyrl Ayers

Chyrl Ayers

Discussion Comment

The Auditors Are Coming!

Magdali, It is very important that your FA files are organized in a manner that makes it easy for your staff, auditors and program review officers to review. If all files are organized in a similar manner it makes it easier to identify any missing documents. The organization of the files may vary depending on whether you maintain paper or electronic files. If you maintain electronic files you may want to work with the administrator of the program to ensure that the files are all organized according to the same document follow. Good luck with your upcoming internal auditor. This… >>>