Elba,
You are correct - accurate reporting is the best method; however, it is important to have checks and balances to insure all information is handled appropriately. Do you have systems in place to catch errors or some type of quality control process?
Sincerely, Chyrl
Right now, I personally is not working with reporting , but I find out this is very helpful topic that my useful in my long term career.
Lisa,
I completely understand that during one's career changes will occur to the task required to perform and it is good to know this may be beneficial in the future.
Sincerely, Chyr;
In my job, I believe that reports are necessary and helpful in keeping all student organized in order to give them accurate answers to questions about their financial aid package. Reports also help to ensure the process is done correctly to avoid error.
Virginia,
I agree the more organized you are the more beneficial the experience is for your students. Organization will allow your student files to be more easily reviewed and address any missing items.
Sincerely, Chyrl
Getting timely and accurate reports is very beneficial in locating trouble spots and issues, as well as spotting trends in both student and personnel issues.
I agree Chuck. Reports are important to ensure you have a good, sound tracking mechanism from the time the student first completed their financial aid application through to the time they receive their initial Title IV funding.
Regards, David
The position seem to the eporting process is most important. Without the proper reports it makes it diffucult to meet the need of your students. Example At the school where i am, If i do not have the attendance report correctly and a student misses days, we need to on hte phone calling to get the student back in school and have a meeting with the student to make sure everything is ok and see how we can be of assistance. By have a good system in place help assure the students meet it goal which is graduation and the school meets it goal.
James,
The ability to have reports that are accurate and timely are critical to the handling of students in an appropriate manner. Reporting related to the student's status is extremely important when monitoring their attendance and whether or not that could potential be an issue. The utilization of these reports will benefit the student and institution as the student progresses through to graduation.
Best wishes in your continued online education process.
Sincerely,
Chyrl
A portion of our reporting is also handled by our third party servicing agency. They have just recently changed to a new software that provides our office with a report that contains a detailed summary of each student's disbursements and remaining aid to be disbursed. In addition it also gives the current loan period for each Student. Prior to this we received individual summaries for each student which was cumbersome and required a significant amount of additional filing. The new system is much more user friendly and helps me to keep track of what I need to do.
Judith,
The changes made by your servicer seem to have been of a benefit to your institution allowing more detailed visibility into your students. It is great when you have a servicer that takes the time to create reports or enhancements to the software that makes your responsibilities easier to manage.
Sincerely, Chyrl
I think that reporting is beneficial both for the student and the school. It provides the student with the financial information they need and where they stand financially and it help the school to maintain all necessary records for auditing purposes.
Greetings Sheneka, I agree with your response that reporting is a very important part of your day to day operations. In order to track your students to ensure their financial aid is received both timely and accurately a financial aid office must have a reporting mechanism in place. Good luck as you continue through your education. David
I believe it is very beneficial. As I mentioned our FA dept. is not fully operational. The reporting will keep you organized and accountable. This is directly related to students' needs. We need to be there for them every step of the way.
Debbie,
One of the most important steps in the set up of a Financial Aid or Business Office is organization. This will be very beneficial as you move toward a more automated process. The automation should compliment the organizational structure of your office and ensure timely processing for students and parents.
Best wishes as you continued your set up of your FA Office.
Sincerely, Chyrl
Reporting is a very critical piece to an organizations success and that of a student. I could speak only to that of reports that must be ran for the DOE or I could speak in general relating to our students and business in a variety of ways. No matter how you look at it as long as the data you are utilizing is accurate it proves to be beneficial to someone. As an organization you want to improve your margin from year to year. What a better way to do so by reviewing and analyzing the data you have. This is beneficial to the student as it would improve their experience and service they receive as it ties back to the employees. There are so many data elements and ways to utilize reports.
Information that comes from a report can be viewed as either favorable or that which is not favored as it may provide insight to areas of opportunity. What I mean by this is that as an employee I may not like report X that shows my accuracy/processing below that of others, or I may like it to know where I rank so I may improve or continue doing what works. As a student they may want to see the graduation rate for their program of study prior to enrolling in that particular school. A school with a good placement rate loves the reports, however one with a low placement may not. Who benefits the student from knowing the data upfront and making their decision. I am big on reports and utilizing the data to improve whatever it is one can for yourself or for others.
Our school as of last year has centralized much of our reporting process. I believe this process is very effective because it reduces the error rate of having every school report individually. I monitor our daily Accounts Recievable report and our package management to ensure students funding are processed and is being paid in a timely manner.
Kimberly,
In the last few years schools have come under much more Scrutiny regarding reporting and reconciliation, especially Direct Lending. It is good that you monitor this activity on a daily basis. Thanks, David
David McGuffee
In most cases, meeting the needs of the students translates into how one pays for the cost of the education. Reporting on an individual level lets us know what the student is eligible to receive and what is available to award. Therefore, our objective, to best serve the student is the pay the aid accurately and expeditiously, or alerts us if the aid is not paying so that we can determine why the aid not paying. Reporting allow us to know what funds are available if a student should withdraw and re-enter to determine what their remaining eligibility for FSA funds will be. Reconciliation identifies errors and discrepancies.
Joy,
Your points are very thoughtout. It is important that we never forget the student and meeting their needs when processing of awards. Reporting and monitoring are important to the delivery of timely federal student aid and our administration; however, the needs of the students should not get lost in our processing of the paperwork.
Best wishes in your continued online Financial Aid educational experience.
Chyrl Ayers
