Financial Aid Professionals
As a Financial Aid Professional, your students come first.
Service to students as they pursue higher education is likely why you committed yourself to this challenging profession. You wish you had more staff time to spend with the students and families who need your help to fully understand and benefit from the financial aid process, but there are too many issues and items competing with those students for your time and attention. Regent financial aid software can help ensure your office meets regulatory and processing requirements, while freeing up staff to work with students on things like loan management/default aversion, special circumstances, and other “high touch” issues.
Regent can help with:
In an effort to better serve students, your institution develops new and innovative course delivery schedules that challenge your financial aid system, and perhaps your ability to even determine how to award and disburse for those students. Regent’s software offers a highly configurable and flexible platform that can support all current learning models including standard term, non-term and competency based.
You currently rely on either third parties or individual campuses to process federal financial aid for your school or school group. You have concerns about costs and compliance levels, since you do not have direct control over the process. Regent provides support and automation to allow you to either insource or centralize your processes to ensure compliance, consistency, and efficiency.
Any student action other than normal full-time course completions requires manual intervention by a financial aid staff member. Reentries, program changes, and other manual interventions can be time consuming and introduce compliance risks. Regent software automatically processes certain changes, and provides processing wizards to support staff through easy and consistent treatment of other exceptions.
Regent’s experienced compliance team tracks regulatory changes and communications and ensures our software is always compliant with current requirements. Please visit our Insights page for some of our commentary on such issues.
Both students and upper management apply constant pressure for speedy delivery of financial aid funds. You are stretched between accommodating their needs and ensuring that the right funds go to the right student at the right time. Regent software automates processing by only processing eligible disbursements, providing useful reports, and automatically scheduling staff tasks to resolve specific issues which delay processing.
Management and security of paper financial aid documents is a drain on staff and students alike. Regent software allows you to fully automate the tracking of standard documents in electronic format as they are reviewed and approved by the appropriate financial aid professional. Students can complete and e-sign documents, or upload them through the student portal. Documents submitted through the student portal automatically attach to the student’s record. Your staff can link e-mailed documents directly to the record, and can scan/upload any remaining paper documents.
You “make do” with your current software, but its limitations do not allow you to do what you’d really like to do when calculating Cost of Attendance and award amounts, or when communicating with students. Regent’s software is extremely configurable, with set-up options for a wide array of cost, award, and disbursement options. You can customize your student portal, financial aid applications, and student messaging to suit your institution’s needs and preferences. Additionally, Regent’s SNAP product makes detailed cost estimates available to your applicants immediately upon initial completion of the FAFSA questionnaire.
You do not have comprehensive tools to quantify and track your progress as an office, as well as to efficiently track and manage individual staff member accomplishments and workloads. Regent’s dashboard functionality provides snapshot insight into your financial aid pipeline. Records, files, and students automatically move through the process, and tasks are assigned to staff for exceptions or document review. You get a realtime overview of students and funds which have been processed, and where the incomplete cases stand in the process. Additionally, as a manager, you can drill into the detail to track task completion by individual staff members or reassign specific tasks as you deem necessary.
Long Turnaround Times
Your applicants and current students are understandably eager to find out about their awards. However, ISIR rejects and in-house processing backlogs at busy times delay offers. Even after receiving offer letters, some applicants remain confused about their real costs and benefits. Regent’s SNAP allows applicants to complete and submit their FAFSAs from your website and receive a provisional award letter in real time. SNAP’s “smart logic” system ensures more accurate data submission, thus reducing rejects and increasing the accuracy of initial estimates. You can also configure your SNAP application process to collect additional data, so you can provide immediate feedback to applicants including award estimates for the length of the student’s entire program and detailed cost information.
Student Online Experience
Likely, a high percentage of your population is very tech savvy and comfortable with electronic processes, but your current electronic options don’t provide a full range of electronic financial aid services to your students. Regent’s highly configurable SNAP applications, student portal, and communications options allow your students to complete their entire financial aid process online. You can provide help notes and explanations as needed, can determine what information is shared with students, and can get their documents completed, awards accepted, and questions asked/answered virtually. You will configure messaging and follow-up to go out via an array of media. A student needing personal assistance can contact you at any point via your preferred methods such as chats, e-mails, texts, or in-person/phone appointments.