Financial Aid Audit/Federal Program Review Assistance
Whether you are working in anticipation of an audit and/or federal program review, have been notified that one will occur and are looking for clean-up, support and transparency of potential outcomes or have recently received your findings, Third Coast Higher Education can assist you through any and all stages. Depending on which stage you are in with your audit or review, we have the experience to either review files and provide feedback and/or support the necessary updates or provide the needed responses, support and business process updates post-finding(s). Financial Aid Offices must develop responses to management and compliance findings from internal and external audits. We provide assistance in building processes in response to audits and federal program reviews and manage the response to the report. We can also conduct full compliance reviews of the financial aid operation to the goal of identifying potential risk areas and well as assist in the implementation of the recommendation.
Financial Aid Interim Staffing
When financial aid leaders leave a position, it can leave a significant gap within the office. Third Coast Higher Education consultants have the experience needed to step right in to an open position and keep things running smoothly. With the background that we possess in financial aid consulting, there will be a critical eye to business process and compliance while in the role as interim staff. This critical eye can provide a significant opportunity to identify risk and make enhancements to the current state of the financial aid system and business operations. Additionally, Third Coast Higher Education knows that not all institutions’ needs are the same and can cater to your institution’s needs – whether that be providing transition training to a newly appointed financial aid director or providing assistance remotely to support a team during a financial aid director search.
Financial Aid Systems Revitalization
Many Financial Aid Offices are using their financial aid system adequately, but not taking advantage of the full automation and operational capabilities.
Third Coast Higher Education can conduct a “health check” so the Financial Aid Office can best utilize:
Collaborate with Third Coast Higher Education for a Financial Aid System Revitalization to improve service to students and compliance with regulations, without adding more work for the Financial Aid staff.
A System Revitalization typically includes these activities:
- Assessment of the current financial aid operation and utilization of the financial aid system processes
- Development of system and business process recommendations
- Creation of set-up, rules, population selections and automated financial aid routines
- Training and Knowledge Transfer to Financial Aid staff
Financial Aid Compliance Assessment
A comprehensive assessment that includes an evaluation of the processes and technology that a part of the financial aid operations. During an on-campus visit, Third Coast Higher Education interviews staff and reviews institutional eligibility, financial aid policies and procedures, financial aid system processes. In addition, we examine how operations are coordinated at the institution. Assessment of the financial aid operation is performed by our 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 File Processing
Whether you are understaffed, overwhelmed with the current workload or are looking to fully outsource the processing of your files, Third Coast Higher Education is there to help. We provide remote processing services that include, but are not limited to:
Special Circumstance Appeals
Return of Title IV Funds
Satisfactory Academic Progress Appeals
Financial Aid Training and Policy Documentation
We can develop and deliver a customized training curriculum to address regular and special needs of the admission and financial aid areas and their partner offices. Development and improvement of current policies and procedures will be a part of the training plans as well.