In my institution we use the reports to offer the student more and better information about their financial assistance, which facilitate the whole process correctly.
I think that it is important to maintain all records up to date, so that the funds are managed correctly. This will ensure that the funds are given to the students in a timely manner ensuring success in acheiving their academic goals.
TANIA,
Great points. Timely processing will definitely ensure the student's success. It will take one concern off the student so he/she may focus on their educational goals.
Sincerely, Chyrl
Chyrl Ayers
Reporting is necessary and beneficial. Reports are part of the accuracy and timeliness process of the FA and BO departments. Reports also help in giving a better assistant to students and parents, so they are also a critical tool in the financial aid process.
Daisy Debs
In my current position reporting is vital. I utilize reports via CampusVue to monitor Title IV funding and accounts receivables within the Financial Aid Department.
We self audit monthly as well as cross audit quarterly to ensure that we are staying in compliance
myrna,
Those are great processes to have in place to ensure compliance within the files and processing. Also, great that you have a system that allows you to monitor electronic the process.
Sincerely, Chyrl
Chyrl Ayers
Accountability is an important aspect to all areas of running a School; however, the level of accountability in administering Title IV funding increases ten-fold. The implementation of auditing tools, techniques, third-party sources, and internal controls helps to ensure that the appropriate use of resources provided by tax payers.
I think ultimately that is the goal is to have a satisfied "customer". If we are doing our jobs efficiently and reporting correctly the student will leave pleased about a product. They may not know all of the number crunching that went on behind the scenes.
We use and relay heavily on campusvue for most of reporting. Knowing how to run certain reports is very useful in making sure you are able to track what documents you need from a student or what documents have come in and are on file so that we can proceed further with obtaining funds for that student. Another useful report is our past due cash because we are able to see what funds have been pending for awhile and we are able to create urgency to get what we need completed by the student. Basically the type of reports we use is a primary foundation in making sure we are meeting our students' needs which again delivers great customer service in establishing their funding.
I solely rely and reports as well to make sure all students we have in our population are properly tracked and funding is secured. Without our past due cash, ISIR or document tracking reports we get from campusvue, I don't think we would be very well organized. Campusvue is an amazing tool for these things as well as for student follow up.
Katie, Those sound like great reporting tools that allows you to keep track of each student's financial aid status. It is great that you have an electronic system in place.
Regards,
David McGuffee
Reporting is essential to monitor the timeliness and accuracy of student file submission. We have an obligation to our students to not only provide them exceptional service through the enrollment and repack process but also on the back end by processing their aid on time and accurately to avoid return trips. We use various reports generated through our system to track past due aid.
Daniela, Great points. timely and accurate processing of the student files and the monitoring of those processes ensure an efficiently run financial aid office and allows for the student's success in what matters to them the most - their education.
Regards,
David McGuffee
Proper reporting helps to keep the student's packaging organized which allows all financial services officers to assist a student at anytime. With proper reporting, I am able to quickly read the student's file before an appointment to know the best plan of action to assist the student without repeating steps another officer may have already completed.
Jennifer,
Handling a student through proper reporting is one type of reporting in the financial aid office; however, how do you handle other reporting such as COD, reconciliations, NSLDS, etc. and verify the timely reporting. It is important to consider all aspects of reporting even those that may not be part of the financial aid office such as registrar may handle NSLDS or Business Office may handle COD and FISAP. It is critical that all levels and layers of reporting are timely, accurate and reviewed.
Sincerely, Chyrl
Chyrl Ayers
At my institution, I believe reporting is crucial in keeping all student files organized and at hand in order to provide the student with accurate and up to date information regarding their financial aid.
Nathaly ,
Agree, and it is important to evaluate those policies and procedures periodically to ensure compliance is maintained and documented appropriately. The organization and maintenance of FA records is a personal choice and more and more schools are moving toward electronic retention methods.
Sincerely, Chyrl
Chyrl Ayers
I believe that reporting is a very important for accuracy and beneficial to service our students. This assures that all accounts are up to dates and any discrepancies can be adjusted in a timely manner.
Best Regards,
Lazara Tapia
For me it is very important to know the needs of our students
Yusimi ,
How do you obtain this information? Do you conduct interviews or analyze data that you have on the student? Your approach could be of interest to other learners and provide them with beneficial ideas.
Sincerely, Chyrl
Chyrl Ayers
