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Financial Aid Checklist
Questions to Help You Evaluate Your Financial Aid System and Future
Needs. . .
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 and
Perkins?
- Are the following FFEL
Loan Services available from your system or servicer:
Determine the Loan Eligibility and 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,
Print/Transmit the Promissory Note, 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
- 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 1-800-242-0977
for more information, or, email us at djainfo@gotodja.com.
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