Financial Aid Business Process Assessment

Financial Aid Business Process Assessment

Third Coast takes a systematic approach to help an organization optimize its underlying processes to achieve more efficient results. As financial aid professionals, we approach the business process improvement cycle with a combination of Best Practice solutions that are based both in the financial aid process and the system utilization.

Assessment of the admission and/or financial aid operation is performed by Third Coast consultants toward the goal of formulating opportunities to modify your processes to most effectively utilize best practice solutions within student information systems, including PeopleSoft, Colleague, Banner, CAMS and PowerFAIDS.

Financial Aid Offices are painfully aware of the results of inefficient processes; unhappy students, stressed staff members, missed deadlines, and slow delivery and disbursement of financial aid funds are just some of the problems that dysfunctional processes can create. That’s why it’s so important to improve processes when they are not working well.

To improve a business process, Third Coast consultants follow these steps to guide the campus to make the desired improvements:

  • Map the processes
  • Analyze the process
  • Redesign the process
  • Acquire necessary resources to support the change
  • Implement and communicate change
  • Review the process

Keep in mind that you’ll need to improve most processes at some point. New enrollment and retention goals, new technology, and changes in the regulatory and financial aid environment can all cause established processes to become inefficient or outdated.

It is our opinion that simply improving business processes is the easiest and fastest way to improve the service that the financial aid office provides to your students.