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Financial Aid Checklist
Questions to Help You Evaluate Your Financial Aid System and Future Needs
Evaluating Your Present System
- Has your present system or servicer kept up with the recent changes in the
Department of Education (e.g. COD, NSLDS, other reporting requirements)?
- Are you comfortable with the support and problem solving capabilities of your
current financial aid servicer or in-house financial aid staff?
- Does your current system or servicer give top priority to ongoing service
(e.g. Toll-Free phone support, free financial aid training sessions and up-to-date client
memos explaining the new regulations)?
- Does your current system or servicer offer other related services (e.g.
optional PC software to be used at your location, USDE Eligibility and Certification
assistance, and on-site financial aid training/consulting)?
- Does your current system or servicer offer the following Financial and Fiscal
Support Services:
- Generate Award Letters
- Assistance in Developing Student Budgets
- Packaging of Financial Aid
- Review NSLDS
- Monitor Crossover Year Students
- Verify Statement of Compliance Prior to Disbursement
- Complete Verification (request appropriate tax return and check for supporting
documents and accuracy)
- Pell Data Entry into COD
- Pell YTD Report
- GAPS Funding and Reconciliation
- Cash Requests
- Check Writing
- Bank Reconciliations
- ERR Reporting (formerly known as SSCR Reporting)
- Are the following Services available from your system or servicer:
- Return to Title IV Refund Processing
- Automatic ISIR Processing
- NSLDS Processing
- Title IV Support for FWS
- SEOG
- Perkins
- ACG
- SMART
- Are the following FFEL Loan Services available from your system or servicer:
- Determine the Loan Eligibility
- Completion of the School Section of the Application
- For Direct Loan processing, does your system or servicer:
- Determine Loan Eligibility
- Create/Transmit the Loan Origination Record Electronically
- Export/Import Origination Acknowledgments
- Call in the Fund and Write the Checks
- Update Origination Records and Perform Monthly Cash Reconciliation
Now tally up your answers . . .
If you have answered NO more times than you wanted to the above questions, you
need to investigate EFAS (Electronic Financial Aid Servicing from DJA) today!
With DJA, your institution will have a valuable check and balance on your financial
aid administration which may limit your liability in a program review or audit.
The cost to get all of the questions answered yes is surprisingly low.
For as little as $385 a month*, your school can get started with EFAS.
This amount also includes the following benefits at no additional cost:
- Toll-Free Support Number
- Detailed Memos on New Financial Aid Regulations
- Access to DJA's Financial Aid Training Sessions and Monthly Webinars
- Optional PC Software for Pell & Direct Loan (EFAS Express)
Upon request, DJA would be more than willing to provide a detailed proposal for your
institution. Get in touch with us at (800) 242-0977 for more information, or
email us at djainfo@gotodja.com.
* Subject to change
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Copyright © 2010 DJA, Inc. All rights reserved.
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