The “Challenges Deserve Solutions” eBook offers valuable insights into how financial aid offices in higher education are overcoming unprecedented obstacles with innovative partnerships.
Financial Aid Services (FAS), the leading provider of consulting and training, interim staffing, and outsourced processing services for financial aid and business service offices at colleges and universities in the U.S., announces the release of its comprehensive eBook: Challenges Deserve Solutions. The eBook delves into the complex world of financial aid operations and presents practical strategies and innovative approaches to challenges facing financial aid operations nationwide.
“When the gig economy meets up with today’s financial aid process, there is bound to be friction unless you discover how you can deliver quality, accuracy, speed, and personalization all at scale; and the encouraging part is that can be done,” said Robert Heil, CEO of Financial Aid Services. “Our comprehensive guide marks a momentous stride in our commitment to equip financial aid officers and institutions with the knowledge and tools required to conquer the complexities of the field. By offering actionable strategies and fostering innovative partnerships, we strive to ignite positive change and elevate the financial aid landscape for the betterment of students and institutions alike.”
FAS surveyed senior higher education leaders to guide the eBook and gauge the most significant issues in administering financial aid. Four major challenges emerged from the survey, including:
- Compliance: Nearly half of the FAS survey responders cited managing the ever-changing environment of compliance as a major challenge and noted institutions are simply not able to keep up with the regulatory and compliance changes working with limited resources. FAS provides comprehensive coaching, training, and advisory services to enable teams to stay up to date with the latest regulatory changes and ensure compliance in every case.
- Meeting Students’ Expectations: For a generation of students that grew up as digital natives, the financial aid experience can feel sluggish and create friction in their decision process. Partnering with FAS allows financial aid teams to streamline their processes by outsourcing application processing and leveraging additional on-site or remote support.
- Tech Optimization: Few campus leaders expressed confidence in leveraging their technology stack. FAS equips institutions with experienced consultants who possess a combination of deep expertise in financial aid and are proficient in utilizing widely adopted student information systems and technology infrastructures.
- Staffing Pressures: Staff vacancies and hiring challenges are impacting campuses nationwide. FAS addresses staffing challenges by creating new, flexible staffing solutions such as interim staffing or fractional leadership models, allowing financial aid professionals to focus their efforts on student engagement and future planning.
“Their best feature is their deep knowledge of the financial aid industry and the landscape,” said Robert Muhammad, Executive Director, Financial Aid Howard University, when asked about his institution’s decision to work with FAS.
From addressing compliance to staffing pressures, FAS’ Challenges Deserves Solutions eBook offers practical strategies and innovative approaches to overcoming some of the issues higher education leaders identified as common pain points.
“Working with FAS freed up time for our staff to provide better customer service for students and families on an individual basis,” said Paul Coscia, Assistant Vice President, Financial Aid Salem College. “The process is also much easier and quicker for families.”
To download the eBook, click here.
To learn more about FAS, visit https://www.financialaidservices.org. You can also visit FAS at the National Association of Student Financial Aid Administrators (NASFAA) Conference from June 29–July 2, 2023, in San Diego at booth #515.
The American Consortium for Equity in Education, publisher of the "Equity & Access" journal, celebrates and connects the educators, associations, community partners and industry leaders who are working to solve problems and create a more equitable environment for historically underserved pre K-12 students throughout the United States.