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That’s Classified!

December 21, 2023

By: Tiffany Motyka, Ed.D., FAS Senior Consultant

In the last few years, many legislative agendas have made updates to the Higher Education Act of 1965 (HEA) to improve the federal financial aid process.

These Higher Education Act updates were the result of:

Fostering Undergraduate Talent by Unlocking Resources for Education Act (FUTURE Act) of December 2019
FAFSA Simplification Act in December 2020
The Consolidated Appropriations Act of 2021
The Consolidated Appropriations Act of 2022
FAFSA Simplification Act Technical Corrections Act (FSATCA) of March 2022

These legislative agenda items have paved the way for a better FAFSA user experience and more protection to family income data. To ensure the student application experience is safe and seamless, the federal tax information (FTI) supplied by the Internal Revenue Service (IRS) to the FAFSA was designated as Controlled Unclassified Information/Specified Tax (CUI//SP-TAX). This means all information with this designation falls under the Internal Revenue Code (IRC) confidentiality protections.

Due to this protective designation of the Federal Tax Information data an applicant would have to provide active, annual consent for the information to be used for awarding purposes. According to FSA Electronic Announcement General-23-24, “To provide approval and consent, FAFSA contributors (including parent(s) or spouse) must agree to:

the Department’s use and disclosure of their information (e.g., name and Social Security number) to match with the IRS;
the disclosure of their FTI by the IRS to the Department;
the use of their FTI by a Department official to determine an applicant’s eligibility for federal student aid and the amount for which they are eligible; and
the redisclosure of FTI by the Department to an eligible institution, state higher education agency, or a designated scholarship organization (e.g., institutional or state financial aid).”

The submitted Federal Tax Information (FTI) is held in the FTI Module (FTIM) which was created to ensure broader security for the data received. This means each eligible institution of higher education would need access to a second Student Aid Internet Gateway (SAIG) Mailbox. This mailbox is the tool that allows colleges to securely exchange batch data with FSA Application Systems, which includes FAFSA data and FTI. According to Federal Student Aid, “The new SAIG agreements will require compliance with the protection of the FTI provided to our partners by the Department, including return information obtained in support of the administration of the federal student aid programs, and an acknowledgement of the criminal and civil penalties for the unauthorized inspection or disclosure of FTI.”

For more information on FTI and how this applies to the 2024-25 Award Year financial aid processes, please refer to:

Electronic Announcement GENERAL-23-34, APP-22-26, and GENERAL-23-09
IRS Publication 1075 – Tax Information Security Guidelines
Guidance on the Use of Financial Aid Information for Program Evaluation and Research

Are you facing challenges at your institution?

Contact FAS today for a quick consultation on how we can help you discover solutions tailored to your unique needs. Reach out at 770.988.9447 or via email at info@FinancialAidServices.org.We look forward to connecting with institutions ready to overcome challenges and elevate their financial aid and student business services.

About FAS

Financial Aid Services (FAS) has served higher education for over 30 years. Located in Atlanta, Georgia, FAS provides consulting, staffing, processing, and assessment services to assist institutions with improving operational efficiency, student satisfaction, and regulatory compliance in financial aid and student business services. FAS’ accomplished team averages 28 years of experience and has a combined 1,600 years of higher education experience. With clients in 49 states, FAS has successfully served over 1,800 institutions nationwide. The Company’s extensive experience combined with industry-leading expertise and focus on superior client outcomes, enables FAS to deliver lasting results to its clients and the students they serve. Visit www.FinancialAidServices.org for more information.

One-Stop Shopping: Is this effective customer service for students?

December 14, 2023

By: Heather Hollandsworth, Ed.D, FAS Senior Consultant

Higher education can feel like a merry-go-round for students. Now, more than ever, students need assistance navigating the myriad of changes in higher education policy and procedures.

I recommend that institutions of higher education consistently review their methodology of providing student services on campus. It is decidedly important that students have at least a basic knowledge of what to expect with any changes in educational policy from a federal, state, or institutional perspective that could impact their educational goals.

To this end, creating or moving towards a one-stop student-centric experience may be the best course of action for many institutions. As a financial aid professional for over twenty years, I saw firsthand how confused and uncertain students were with most educational topics, whether it was financial aid, how to pay their balance, or even how to register for classes. Many would be bounced across campus from one office to another trying to find answers to questions about financial aid, student accounts, and/or registration. For this purpose, I define a one-stop shop student-centric experience as a streamlined approach that consolidates communication from essential administrative services, such as financial aid, student accounts, and bursar offices.

A One-Stop Shop does not look the same for all institutions. It could be:

A central location for all student-centric offices on the campus
A call center for the institution where students have one point of contact for assistance
An effective staff cross-training initiative
Or institutions could create a vision for their student population.

There is no right or wrong way to create a one-stop shop experience for students institutions will be different based on the students they serve.

For those institutions that have a large population of on-campus students, a central location may be the best option so that students are not pushed from building to building to find help. Nel Noddings (2013) ascertained that “Everywhere we hear the complaint “nobody cares” and our increasing immersion in bureaucratic procedures and regulations leads us to predict that the complaint will continue to be heard. As human beings we want to care and be cared for” (p. 7).

Simple. Succinct. Right? Just show the students that we care – we all know that as financial aid professionals, we will take any steps that we can to ensure that our students are cared for. However, with the increasing number of policy changes, especially from a federal standpoint (Can you say FAFSA Simplification?), we are all inundated with more and more work, and our focus is placed on compliance versus student satisfaction.

Research tells us that students need and want a centric student services model at their institution.

Johannes (2012) stated that “institutions must find a way to defragment the student experience and build cooperative, collaborative, student-centric delivery of these services. The one-stop student services model was created in an attempt to make the delivery of student service functions a better experience for the current population of university students ( 2).
Altieri (2019) explained that “…plenty of tasks still require students—at some of the busiest times of the year—to find offices they never knew existed (and that can’t seem to communicate with each other), to submit the right paperwork with the right signatures, and to wait in line only to have to repeat the process to complete yet another task in yet another building across campus” (p. 45).

So, look at how your student customer service paradigm works. Poll the students to see what they think and what they want and then talk to administrators about making effective changes to best assist the students. This could impact enrollment and retention over time, which is the main goal of any institution. Plus, campus offices could more effectively communicate and get students the important information they need.

References

Altieri, F. M. (2019). The next generation of one-stop student service centers: Part one. College and University, 94(2), 45-48. https://www.aacrao.org/research-publications/quarterlyjournals/college-university-journal/issue/c-u-vol.-94-no.-2-spring

Johannes, C. L. (2012). One-stop student services a student perspective [ProQuest LLC]. In ProQuest LLC. http://gateway.proquest.com.proxymu.wrlc.org/openurl?url_ver=Z39.88- 2004&rft_val_fmt=info:ofi/fmt:kev:mtx:dissertation&res_dat=xri:pqm&rft_dat=xri:pqdis s:3516494

Noddings, N. (2013). Caring a relational approach to ethics and Moral Education. University of California Press

FISAP Corrections Due by December 15, 2023

December 7, 2023

By: Dawn Patak, Ed.D., FAS Senior Consultant

The deadline for corrections to the FISAP is fast approaching. Changes, corrections, or edits to the Fiscal Operations Report for 2022–23 and the Application to Participate for 2024–25 (FISAP) must be submitted to the Department of Education no later than 11:59 p.m. Eastern time (ET) on Friday, Dec. 15, 2023.

Important Points to Remember:

Click “Submit”: Saving data is not the same as submitting the FISAP. Ensure all data is entered accurately and submitted by the deadline. Corrections can be made until 11:59 p.m. Eastern Time on December 15, 2023. Save and submit corrections as needed.
Timely updates of FAA contact information are important in order for the correct individuals to receive notifications. Changes can be made while submitting the FISAP or via the COD website.
Verify reported expenditures for the 2022–23 award year to prevent negative balances. Consistency with G5 drawdown information is crucial.
Schools are not required to resend signature pages when changes/corrections are made to a previously submitted FISAP.
Corrections for validation edit errors must be submitted by the December 15, 2023, deadline.
Changes after December 15, 2023, must go through the “Change Request” process.

Failure to submit corrections may result in funding reductions. For more information and to get more timely updates: https://fsapartners.ed.gov/knowledge-center/library/fisap-form-and-instructions/2023-06-09/final-2024-25-fisap-form-instructions-and-desk-reference.

Critical Campus Partnerships in Administering Title IV Federal Student Aid Programs

November 29, 2023

By: Mr. Lawrence Britton, FAS Senior Consultant and Dr. Delinda Hall, FAS Executive Consultant

Communications and the sharing of information among campus partners in the administration of federal student financial aid funding (Title IV) are critical as Institutions of higher education seek to successfully comply with federal regulations. All too many campuses are filled with silos and dysfunction among their administrative teams. This type of dysfunctional operation negatively impacts the student experience and quality of customer service. Critical partnerships are a must between the areas of registration and records, admissions, student accounts (bursar), academic affairs/faculty, financial aid, and finance teams. Compliance with federal regulations pertaining to Title IV funds is an institutional responsibility.

A number of top Audit and Program Review findings are directly related to the partnership between administrative offices responsible for federal student aid program compliance. One administrative area cannot perform efficiently without the other’s awareness and knowledge of Title IV regulations. The timely sharing of accurate student-

level data is just as important in this partnership. Collaboration and knowledge sharing are key to reducing inaccuracies and improving the student experience. The following are recommendations for critical communications and information sharing between campus partners to promote and enhance institutional administrative capability:

Admissions communication/information shared with the Financial Aid Office

Prior to the start of each term –
- Routine (weekly at a minimum) reporting of admitted applicants (include the program for which the applicant has been admitted)
- Routine (weekly at a minimum) reporting of admitted applicants who have withdrawn their intention to enroll (ensures aid is appropriately canceled prior to start of term)

Registrar communication/information shared with the Financial Aid Office

Routine reporting (weekly at a minimum) of students who are registered for the term and have notified the office they are no longer planning to enroll for the term.
Timely reporting of students who began attendance at the start of the term and have officially withdrawn from the institution prior to the end of the term.
- Timely reporting of students who have completed all degree requirements following each term.
- Sharing accurate anticipated/actual graduation dates and students withdrawn from the institution during the term is mandatory.
Timely reporting of registered students and changes in enrollment status throughout the term/enrollment period (for example, full-time dropped to part-time, part-time changed to full-time, etc.)
Timely reporting of student program of study changes

Faculty/Academic Affairs communication/information reported and available to the Registrar.

Start of the Term:
- Reporting of registered students who have initiated attendance in each class; and
- Reporting of students who began attendance but are not on the class roster.
Throughout the Term:
- Reporting of registered students who have ceased attending class prior to the end of the term (specify the last date of attendance/academic activity)
Academic Calendars for each Program of Study (include Term specific start/end dates, and scheduled breaks)
- Are there any programs of study considered to be modular or competency-based? These should be clearly identified.
Is there a business process in place that clearly communicates across the campus community the creation or emergence of new programs of study?

Student Accounts Communications/Information shared with Financial Aid

Institutional charges for students who enroll (register) at the institution.
Disbursement processing of both Title IV aid and institutional aid
Schedules of refunds of credit balances pertaining to Title IV aid
Is there a business process in place that appropriately removes charges for students who withdraw from the institution prior to the start of the term?

Institutional Research/Academic Affairs communication/information shared with Financial Aid

Federal Reporting – Integrated Postsecondary Education Data System (IPEDS)
In some institutions, this office may assist with some sections of the Fiscal Operations Report and Application to Participate (FISAP)

Finance Team/Treasury communications/information shared with Financial Aid

These campus partners hold pivotal roles in the reconciliation process and drawdown of Title IV funds.

Key takeaways and recommendations:

Standing meetings to review University policy and processes between leadership and front-line staff of the Office of the Registrar, Academic Affairs/Provost, Directors of Student Accounts, Admissions, and Financial Aid, Finance/Treasury Offices
- Training of staff and continuous monitoring of the processes is essential.
- Share regulatory updates critical to the institution’s operations.
Provide appropriate access to federal student aid systems to complete task-specific responsibilities (e.g., enrollment and graduation reporting)
Perform periodic sample audits to ensure the effectiveness of control measures in place.
Document (create business process guides) processes and procedures within all departments.
- Any change in staff should not impede ongoing operations as there are well-documented steps to reference.

Source: Fiscal Year 2022 Top Ten School Audit Findings and Top Ten School Program Review Findings (https://studentaid.gov/sites/default/files/FY2022-Top-Findings-Companion-Report.pdf)

Customer Service Skills – Practice Makes Perfect!

November 2, 2023

By: Joyce Lubeck-Sonenberg, FAS Senior Consultant

It should come as no surprise that working in a typical school financial aid office can be, well… challenging.  Stepping into any FA office near the start of a new term, one can easily see why this can be so. It’s a busy place. Several students may be at the front counter, telephones are ringing, often incessantly, and the office email inbox is bursting at the seams. While positive customer service skills are always important in the FA office, there are moments when staff skills are tested. Developing positive, professional, and enduring customer service skills takes time, training, patience, and practice. The provision of regular training or quick refresher sessions can help to maintain customer service skills at a level that benefits both staff and students and allows a better experience for all.

A literal cornucopia of customer service training opportunities is available to sharpen the skills of the FA staff. The internet is loaded with blogs, webinars, and interactive training events. Following are just a few tips gleaned from a variety of those resources.

Maintain a Welcoming Environment – Ensure staff demonstrates a friendly, welcoming reception. Greet with a smile and a warm, genuine “Hello, how are you? Welcome to the FA Office. How can I help you today?” Sure, it sounds simple, but a positive tone has been established and instantly shows a level of respect. The first staff person a student or parent sees is the first representative of the office and the entire school and should possess a “helping” type attitude.

Let’s face it… the FA world is a regulatory quagmire. Documents must be signed and submitted. Eligibility must be established. Policy and procedures are to be followed. Mistakes are made, information and instructions can be confusing, and a student or parent can become irate, rude, unhappy and sometimes abusive. No one enjoys those situations but remember… it’s not personal.

Don’t Take It Personally - The upset student is unhappy and frustrated about a problem. 

They are venting their anger to the staff person. They don’t even know them. They are angry about a situation that either happened or didn’t happen. Listen to the concern. Dig into the problem. Once it is in proper perspective, the student should be informed about what can be done to help with the issue, not what can’t be done. For example, if a document is required, don’t simply say they must submit the document. 

Identify the document, make it available, and accept it on the spot.

Ensure the FA Information is Accurate – Double-check that significant dates, times, requirements, amounts, policies, etc., are accurate. It’s frustrating if the information on the FA website is outdated or incorrect. Students and parents expect the FA staff to conduct FA matters professionally. Attention to detail is critical in the FA world, and complacency in this area weakens the image and professional reputation of the office.

Dig Deep to Resolve/Prevent Hidden Problems – Don’t assume the surface problem is the only issue. 

Look to multiple screens in the student information software, log notes, or co-workers to ensure all issues are resolved. Ask the student if there is anything else they need, or the staff can assist with before they leave or end a call. Experienced and helpful staff may recognize and resolve a potential problem before it impacts the FA process.

Sympathize and Empathize – There is value in the saying, “Students’ don’t care how much you know until they know how much you care.” Imagine it’s your or a family member’s first experience with higher education, particularly with FA. They may be anxious, frustrated, angry, or dealing with a world they have never entered before. Apologize and acknowledge their feelings. Staff may actually spend 80% of their time massaging feelings and about 20% solving the problem. Feelings are key. Sympathize, empathize, apologize, and immediately follow up with action.

FA staff do not become expert customer service representatives overnight. It takes time, training, and practice to deliver consistent, quality customer service in the FA office. Take the time to review and refresh these and other tips throughout the academic year. Students, parents, and yes… FA staff will all benefit.

Saying “Yes” to Becoming a Director of Financial Aid

October 19, 2023

By: Heidi Goldsworthy, FAS Senior Consultant

Saying “yes” to becoming a Director of Financial Aid is a big step. Preparation is key.

Taking the opportunity to say “Yes” to moving up to a leadership position within Financial Aid can be both exciting and unnerving. What are the questions you should ask as you consider becoming a director? What does a management position as a director really entail? I have heard many Associate or Assistant Directors state that the responsibility as a director is too big, unsupported by administrators, and a major disruption to one’s personal life. I have also heard individuals state that becoming a Director of Financial Aid has been the best challenge ever. Personally, I wouldn’t change the Director opportunities that I have had over the 40 years in this profession. The opportunity to use my knowledge, critical thinking, and personnel management skills has had ups and downs but I wouldn’t change the director experiences of my career.

So, what experience or information does it require when becoming a director? Here’s a checklist to consider when navigating this important career decision:

1. Self-Reflection and Preparation:

Have you thoroughly considered the implications of taking on a leadership role in financial aid?
Are you emotionally and professionally prepared for the challenges and responsibilities that come with the position?

2. Institutional Research:

Review the institution’s mission, strategic vision, and organizational structure.
Assess whether you align with the institution’s values and goals.
Analyze the institution’s enrollment data, IPEDS reports, and cohort default rates to understand the financial aid landscape.

3. Questions for Institutional Leaders:

Prepare a list of questions to ask other leaders within the institution, such as:
- What is the institution’s commitment to financial aid management and support?
- How does the institution view the role of the Director of Financial Aid in achieving its goals?
- What resources and support will be available to you in this role?

4. Mentorship and Networking:

Seek out a mentor who is currently a Director of Financial Aid to gain insights and guidance.
Connect with professionals who have experienced the transition from assistant or associate director to director.

5. Opportunities for Advancement at Current Institution:

If you plan to stay at your current institution, work with your current director to explore opportunities for taking on management projects that will provide valuable experience.
Express your desire to advance and discuss your career goals with your current supervisor.

6. Continuous Learning:

Engage in ongoing training opportunities to expand your knowledge and skills.
Read relevant materials to stay updated on industry trends, regulations, and best practices.
Build a support network of colleagues and peers in the field.

7. Exploring the Possibility:

Take the initiative to apply or interview for Director of Financial Aid positions when you feel ready.
Consider the potential impact on your personal life and work-life balance.

8. Making the Decision:

Weigh the pros and cons based on the information you’ve gathered.
Evaluate your long-term career goals and aspirations.
Trust your knowledge, critical thinking, and personnel management skills to guide your decision.

9. Saying “Yes”:

Once you’ve made an informed decision, take the step forward toward leadership and embrace the opportunity.
Be open to the possibility of a rewarding and challenging career as a Director of Financial Aid.

10. Adaptability and Growth:

Understand that the role may have its ups and downs, but be committed to personal and professional growth.
Embrace the challenges as opportunities for learning and development.

Remember, saying “yes” to becoming a Director of Financial Aid is a significant career move, and the decision should not be taken lightly. Use this checklist as a guide to ensure you are well-prepared and equipped to excel in this role. The journey may have its challenges, but it can also be one of the most rewarding experiences of your professional life. Embrace the opportunity, take that step forward, and say “yes” to the directorship. Your future in financial aid leadership awaits!

FAS Celebrates Financial Aid Day!

October 18, 2023

Join us in celebrating Financial Aid Day!

Today, we come together to celebrate and honor the incredible Financial Aid Professionals making dreams come true! Finaical Aid Services, LLC (FAS) wants to take a moment to acknowledge the passion, dedication, and unwavering commitment of financial aid experts like you who help students achieve their educational aspirations.

We encourage all Financial Aid offices to join in the festivities. Whether it’s an office party, a coffee or ice cream break, or a heartfelt toast with your colleagues, it’s time to kick back and enjoy each other’s company. Today is your day to pat yourself on the back and celebrate the remarkable work you do for students and their families. Your commitment to your students is nothing short of awe-inspiring. You stand strong even in the face of stress, always offering patience and kindness. You understand the immense importance of shaping your students’ futures and constantly stay updated with the ever-evolving rules and changes in loan and grant programs. Your math skills are rivaled only by your extraordinary ability to connect with people on a personal level.

On Financial Aid Day, we extend our heartfelt gratitude to all who tirelessly dedicate their time and energy to guide and support. Your work truly changes lives, increasing accessibility, reducing borrowing, driving completion, and making dreams a reality.

You CAN Handle the Truth

October 12, 2023

By: Sharon Hassan, FAS Senior Consultant

The title of this blog is a play on the famous line spoken by Jack Nicholson in the 1992 Tom Cruise movie A Few Good Men, “You Can’t Handle the Truth”. But you can. The FAS eBook launched during NASFAA highlighted 4 major themes as the top challenges for managing a financial aid operation.

Keeping up with the ever-changing environment of compliance.
Meeting student expectations for speed and customization.
Leveraging technology for efficiency and modernization and
Staff Vacancies and Hiring Challenges.

I think we all agree, that things have changed. “Everything new“ is the defining mantra for 2024-2025. “New, New, New, Everything New.”

These words, while simple, express what many institutions of higher learning, the college access community, families, and the department of ed on state and local levels are experiencing. Everything new. From the New FAFSA Simplification scheduled to be released December 2023 to the Student Aid Index (SAI) to How Budgets are developed, all new.

To say 2024-2025 is a year of transition or transformation is an understatement. So, what can you do to remain compliant during changing times, meet student expectations, leverage technology, and address staff vacancies and hiring challenges? How will institutions manage? So glad you asked.

If you are like many in the industry, your compliance, customer satisfaction, technology, and data are, at best- outdated…or-at worst, non-existent. This has been made more challenging with the rapid pace of transitions and staff shortages in higher education. We can help!

I was taught to start with the end in mind. I was also taught that you must identify and address your challenges to be the best. Let’s be honest, even some of the biggest and best-funded institutions in the U.S. have challenges. A comprehensive assessment will provide data on customer satisfaction, staffing, technology use, and possible or potential compliance issues at your institution.

Need convincing? Read our latest report on administrative challenges. Financial Aid Services, LLC, (FAS) are a trusted source for higher-ed institutions, financial aid, and related businesses.

Challenges Deserve Solutions

If you’re ready to transform the way your institution handles federal student aid challenges and interim staffing shortages, take the first step with us Contact Us.

To get started on the path to success, you can reach out to us for a comprehensive assessment of your institution’s needs and challenges. Our trusted team has a track record of helping higher-ed institutions and businesses just like yours.

Don’t let these challenges hold you back. Join us in embracing change, improving compliance, enhancing student experiences, and leveraging technology. Together, we can handle the truth and find the best solutions for your financial aid operation. Contact us today and experience the difference.

Temporary staff filing gaps in higher education; Temporary Staffing solutions, Importance of reention in higher education; retaining skilled professionals is crucial for success in higher education institutions

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Retention: When It’s Not Just About Students

October 5, 2023

By: Dr. Dawn M. Patak, Senior Consultant, FAS

When “retention” is mentioned in higher education circles, our thoughts turn directly to students, but should we be looking in more than one direction? What about the retention of employees? When should our thoughts turn to the retention of higher education professionals? It seems, given the large amount of higher education media on the topic, that it’s past time to turn our thoughts to our administrative professionals as often as we do our students, especially financial aid professionals.

In November 2021, Inside Higher Ed woke up the higher education world with the news that financial aid staffing shortages were on the rise. In the past three years, we have seen financial aid position openings double across the nation. Why is this so concerning? What makes financial aid staffing shortages alarming? Are upper administration officials of colleges and universities really understanding what can happen when a financial aid office goes understaffed for just weeks, let alone months or years?

Financial aid administrators shoulder the responsibility of awarding, disbursing, and reconciling federal, state, and institutional aid funds for their students. They must understand and strictly adhere to regulations, both state and federal and institutional policies. Their role significantly impacts enrollment and retention. The efficient functioning of the financial aid office is critical for students and the institution. 85% of students receive some form of financial aid, inadequate financial aid staffing can swiftly lead to disruption in aid processing and other regulatory complications.

The importance of financial aid administration cannot be overlooked. Staffing shortages result in neglecting tasks, a compromised level of customer service, and a decrease in administrative capability that will ultimately impact compliance with Title IV regulations. These shortages also directly affect student enrollment and retention, as losing experienced financial aid administrators means a decrease in the knowledge base that students, families, faculty, and staff depend on. Students who are confused and frustrated with the financial aid process and receive subpar customer service due to a lack of human resources within the financial aid office may choose to attend alternative institutions. Retention of students depends upon many factors, including the retention of financial aid staff.

What can colleges and universities do to retain their financial aid administrators? Here are a few ideas that may help:

Provide a seat at the table for your trusted voices in financial aid. This helps to facilitate communication around their jobs and what they need to be successful and allows them to assist in policy-making decisions that will ensure Title IV compliance for the institution.
Examine the reasons for staff departures as soon as they begin. Are staff leaving for something as common as moving to a better opportunity or is it indicative of an underlying issue? It’s never too early to find out.
Once a decrease in staffing begins, meet with the financial aid staff to assess staffing needs. Discuss ideas to determine if it’s feasible to shift workloads. It is also helpful to let everyone know what is expected of them during a time of staffing shortage.
If you determine shifting workloads is not feasible, do not delay in hiring interim staffing. Leaving a staff depleted for even a few months may have long-lasting effects on student customer service and Title IV compliance.

Financial aid administrators have been under intense pressure for years to keep up with changing regulations and conflicting information. They are the most regulated office on campus. The challenges they face while balancing federal and state regulations, decreasing enrollment, and the need for increased financial aid education while responding to student and parent needs and concerns can be overwhelming at best. Adding staffing shortages into an already stretched environment can create negative long-term issues for students, faculty, staff, and administration.

Prepare for the Enrollment Cliff:

It’s imperative that higher education institutions recognize the urgency of retaining financial aid administrators. Their administrative capability, expertise, and dedication are indispensable not only for students but for the entire institution’s success. By taking proactive steps to address staffing shortages and support these professionals, colleges and universities can ensure continued compliance, enhance student experiences, and bolster overall retention efforts.

Remember, retention is mission-critical. To understand how you can equip your institution for success, reach out to your Financial Aid Services, LLC (FAS) team today. Together, we can navigate the challenges, support retention, and secure a brighter future for both your institution and your students.

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2023 HBCU Week Conference: Key Takeaways and Free President’s Guide Download

October 3, 2023

By: Nicole Verrett, FAS Vice President of Client Engagement

The annual National HBCU Week Conference is a pivotal event that brings together leaders nationwide to discuss and celebrate the enduring legacy of HBCUs. This year’s conference marked a significant milestone in the journey of these institutions that have played a crucial role in advancing educational equity, excellence, and opportunity. Here, we provide a recap of the HBCU Week Conference and the key sessions and takeaways from this week-long event.

Noteworthy Session: Enhancing Institutional Partnerships

“Enhancing Institutional Partnerships: A Pathway for Presidents/Senior Level Administrators” was a key session, led by Federal Student Aid’s Chief Operating Officer. This session highlighted opportunities for collaboration between HBCUs and federal programs. It provided updates on initiatives to assist student loan borrowers and improve loan servicing platforms. The session also emphasized the importance of feedback from President/Senior-level administrators in shaping future initiatives.

Key Takeaway 1: Historic Investments in HBCUs

The HBCU Week Conference also served as a platform to celebrate the historic investments made by the current Administration to HBCUs. These investments include over $7 billion allocated to support HBCUs, with specific initiatives such as:

COVID Relief: $3.6 billion in funding through the American Rescue Plan and other COVID relief measures.
Debt Relief: $1.6 billion in capital finance debt relief for 45 public and private HBCUs.
Grant Funding: $1.7 billion in grant funding to expand academic capacity and support low-income students.
Pell Grants: A significant increase in Pell Grants, bringing the maximum award to $7,395, benefiting approximately 75% of HBCU students.
Research and Development: A new $50 million grant program to support research and development infrastructure.
Institutional Development: A $758 million investment for HBCU institutional development.

These investments reflect a commitment to addressing funding disparities and ensuring that HBCUs have the resources they need to excel.

Key Takeaway 2: Pioneering Initiatives in Support of HBCUs

The HBCU Week Conference also showcased pioneering initiatives aimed at strengthening HBCUs, including:

The U.S. Air Force’s HBCU-led University Affiliated Research Center, funded at $90 million over five years.
The Department of Commerce’s Connecting-Minority-Communities program funds 43 HBCUs to improve internet access.
Prairie View A&M University in Texas became the first-ever HBCU to lead a University Transportation Center.
The Department of Energy’s Funding for Accelerated, Inclusive Research (FAIR) Program, offers over $35 million to build research capacity at historically excluded institutions.
National Science Foundation programs aimed at breaking down barriers in STEM fields.

These initiatives demonstrate a commitment to innovation, research, and diversity within HBCUs and the broader academic community.

Key Takeaway 3: Connecting with FAS Clients

The conference also provided an opportunity to celebrate the accomplishments of our clients. It was truly a wonderful experience to connect and listen to the inspiring success stories of their teams and the remarkable achievements they are accomplishing. Throughout our 30+ years of service, Financial Aid Services, LLC (FAS) is proud to have collaborated with 41 HBCUs.

FAS Releases updated President’s Guide

The President’s Guide is a comprehensive resource that provides valuable insights and actionable strategies for Higher Education Presidents, leaders, and administrators. It offers a roadmap for strengthening an institution’s confidence in federal compliance and regulatory standards. We are excited to introduce the updated guide, it is a vital resource designed to assist university presidents in identifying and addressing potential compliance issues related to institutional administration of federal student financial aid.

Download the President's Guide

Are you confident that your institution’s compliance needs align with current federal regulations and exceed standard requirements? Contact us today to ensure you’re on the right track and to explore how our resources can help you excel in compliance.