Evaluating Your Present System
Questions to help you evaluate your current financial aid system and future needs:
- Has your present system or servicer kept up with the recent changes in the Department of Education e.g. COD, NSLDS, other reporting requirements?
- Are you comfortable with the support and problem solving capabilities of your current financial aid servicer or in-house financial aid staff?
- Does your current system or servicer give top priority to ongoing service e.g. toll-free phone support, free financial aid training sessions and up-to-date client memos explaining the new regulations?
- Does your current system or servicer offer other related services e.g. optional PC software to be used at your location, USDE eligibility and certification assistance, and on-site financial aid training/consulting?
- Does your current system or servicer offer the following financial and fiscal support services:
- Award letter generation
- Student budget development assistance
- Financial aid packaging
- NSLDS review
- Crossover year student monitoring
- Verification of statement of compliance prior to disbursement
- Complete verification (request appropriate tax return and check for supporting documents and accuracy)
- Pell data entry into COD
- Pell YTD report
- GAPS funding and reconciliation
- Cash requests
- Check writing
- Bank reconciliations
- ERR reporting (formerly known as SSCR reporting)
6. Are the following Services available from your system or servicer:
- Return to Title IV refund processing
- Automatic ISIR processing
- NSLDS processing
- Title IV support for FWS
7. For Direct Loan processing, does your system or servicer:
- Determine loan eligibility
- Create/transmit the loan origination record electronically
- Export/import origination acknowledgments
- Call in funds and write checks
- Update origination records and perform monthly cash reconciliation
Now tally up your answers . . .
If you have answered “no” more times than you wanted to the above questions, you need to investigate FAS (Financial Aid Servicing) from DJA today! With DJA, your institution will have a valuable system of checks and balances on your financial aid administration, which may limit your liability in a program review or audit.
As a client of DJA Financial Aid Services, Inc., you will receive:
- Toll-free support
- Detailed memos on new financial aid regulations
- Access to DJA’s financial aid training sessions and monthly webinars
Upon request, DJA is more than willing to provide a detailed proposal for your institution. For more information, get in touch with us at (800) 242-0977, or email us at firstname.lastname@example.org.
*Subject to change