Getting students in for Financial Aid appointments
One of our biggest struggles is getting students back into the office for their appointments. I know communication, excellent customer service and getting into relationship are key factors while working with our students. Our Financial Aid department meets with every student who shows interest in our program and when we complete our initial meeting they leave excited. What are some strategies for keeping the student's excitement and getting them back in for their follow up appointments?
Monique ,
You response is right on the mark - it is critical to establish a relationship with the student to ensure the process is handled timely and accurately. It is great that you and your team have a goal complete process within 24 - 48 hours.
Sincerely, Chyrl
Chyrl Ayers
It all begins with the initial admissions interview. The key is to build rapport and identify the students needs and let them know we are all here to help them achieve their educational goals. Getting them from excited to committed is important. The expectations should be set from the very beginning and then during the hand-off from Admissions to Financial Aid that we are here to help and that we want to complete as much possible on the first visit in order for them to leave will as much detail and a clear picture of what they qualify for and how they can fund their dreams. The goal is to complete the students FA process within 24-48 hours.
Daniela,
It is important for Financial Aid Departments to find the best method to enhance the student's (and parent's) experience. If your methodology provides this for your students and/or parents then you have found a winning combination. Some students prefer a more laid back approach that gives them ample opportunity to ask questions and take ownership in their FA process.
Sincerely, Chyrl
Chyrl Ayers
We divide our Financial Aid appointment into two separate appointments. Once the student has met with Admissions and determined that we are a good fit for their educational needs and have made application they have their first FA appointment with us. We do an FA overview as well as review all the paperwork that we will need for their next appointment. We uncover any potential issues and answer any questions the student may have and set their return appointment to be with in 24 to 48 hours. In the 2nd FA appointment we assist them with their FAFSA and we review a tentative award letter with the student which they sign if they find acceptable. Should the student not show up for their 2nd FA appointment the FA rep and the Admissions rep do a joint phone call to the student and try to reschedule for later that day or the next. It helps to have the two departments work together when the student no show's or wants to cancel their FA appointment.
myrna,
That is an excellent process to ensure that students are processed as early as possible. Most students need to understand how they will cover the cost of their education.
Sincerely, Chyrl
Chyrl Ayers
Hello,
We also try and package students same day. If we are not able to complete, we ensure that we give them a follow up appointment within 48 hours and call them to remind them of what to bring.
Carmen,
We also strive to complete students in one day. I think the student feels more like a college student if we are able to provide them with a schedule and possibly thier books all in one day.
Hi Jetzebell,
We also struggled in this area; I've found that if we truly engage the student during the Financial Aid process the students are more apt to understand the information. We ask the student to repeat pertinent information back to us and quiz them while conducting entrance counseling.
Sean,
Your approach to the student is excellent. The communication between Admissions and Financial Aid for the betterment of the student experience is a great approach. The method seems to ensure that all participants involved in the enrollment process have a complete understanding of what is expected and when. The student experience must receive high marks at your institution.
Sincerely,
Chyrl Ayers
We use a very similar process. Before FA meets with a prospective student our Admissions rep will brief the FA rep about the student. This can include what type of monthly payments they can afford, parental support or "buy-in committee", previous FA experience etc. In the overview we check NSLDS, prepare them for FAFSA, establish their PIN and discuss different funding options. After the overview we will go back to the Admissions rep to debrief them. We let them know when the student will be coming back (within 24-72 hours), discuss any potential concerns or issues and answer any questions. The student then rejoins both Admission and FA rep and is asked what is expected of them before their next appointment. This helps ensure that everyone is on the same page.
Carmen,
I think this is an excellent method to deliver timely service to your prospective students. Also, you use a secondary approach that involves the Admission team when necessary. That reflects the desire for all to be part of great service to complete the student's FA experience.
Sincerely,
Chyrl Ayers
One of our best practices is that we're proponents of same day packaging; therefore, we finalize the entire FA process with the student up front. For those that we schedule be-back appointments and they don't come back into the office for their appointments, our Admissions personnel team up with us. We've gotten great results by involving them in this process.
Jetzebell,
This can be a difficult process. Prospective students are often very excited during the admission interview; however, sometimes the financial aid portion of the overall process can be very dry - you are dealing with very personal information, rights and responsibilities of TIV participation, and completion of forms (whether paper or online) which is probably not as exciting as discussing their educational choice and career potential. It is important to keep that excitement going by reinforcing the importance of the FA process in their overall ability to complete their education. The information can be dry but your presentation and excitment for the student's decision does not have to be.
Sincerely,
Chyrl Ayers
Our most difficult issue is getting our prospects involved and making sure they are on the same page with us. We try to make sure that the prospect leaves excited and looking forward to attending our school.
Alisha,
You process for insuring that students received the assistance necessary seems to be a great way to helping students through the financial aid process. Establishing a relationship with the student early in the process is beneficial in getting the student to return and complete the process. Great suggestions on how to handle the process.
Sincerely,
Chyrl Ayers
After a student meets with Admissions, they meet with financial aid for an FA Overview. During the overview, we help them with their PIN and answer any basic questions they may have. We also set up their financial aid appointment during the overview. Because of this process, we have high FA appt show rates as well as packaging.
Melissa, Constant communication is the key to ensure students return to complete their financial aid packaging. Once you communicate to the students how their education is going to be paid for you have relieved them of these worries so that they can concentrate on their program of studies. Best of luck in your online studies.
Regards,
David McGuffee
