Challenges Deserve Solutions Master Class Episode 4: ‘Just in Time’ to ‘2 Steps Ahead’ on Compliance

A single financial aid officer can be expected to handle up to 2,000 cases each year. Imagine the pressure and the immense responsibility that comes with ensuring each case is handled accurately and in compliance with frequently changing regulations. What’s more, looming on the horizon is the pending FAFSA Simplification, set to streamline the application process. While simplification holds promise, it also introduces new compliance considerations, adding to the challenges that financial aid officers face. The challenge is real, and it’s relentless.

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The Challenge: Dense, Ever-Changing Regulations

Federal and state financial aid regulations are complex at the best of times, with the federal student aid handbook as dense and challenging to read as the tax code. Yet, regulations aren’t set in stone. They are changing at a lightning pace, adding an extra layer of complexity to each case a student aid officer handles. In fact, in the FAS survey of financial aid professionals, regulatory change on the federal, state, and local levels was the second most common challenge, having been cited by nearly half of respondents. Additionally, federal and state-level requirements are often at odds, leading to confusion and uncertainty among professionals and students alike.

 

The Solution: Approaching Regulatory Demands With Teamwork

Financial Aid Solutions, LLC (FAS) offers tailored coaching and training, as well as advisory services, that can help teams become well-versed in the latest regulatory changes and ensure they are compliant in handling each case. Newly trained staff, armed with this information, can quickly access any detailed documentation they might need instead of having to go off in search. More readily available information frees them up to spend more time on the day-to-day operations of their specific role.

FAS’ team of experts also offers compliance reviews and training on policy and procedures that can help any institution prepare for both the expected and the unexpected. Put together, these offerings from FAS enable financial aid teams to operate more efficiently and steer far clear of any compliance issues, helping everyone work more confidently and effectively.

What’s Next

Whether you are a seasoned professional or an aspiring leader in higher education, this engaging and informative session provides a unique opportunity to gain a deeper understanding of the challenges facing higher education and discover innovative solutions to shape its future. Contact us to learn your options! Together, we can transform financial aid, empower students, and create a brighter future for higher education.