How Institutions can Mitigate Verification Process Woes
Each year financial aid offices staff up and may even require overtime and deny vacations in order to manage processing of all the student files that have been selected for verification. Increased regulatory complexity and annual policy changes have made verification one of the most costly and complex aspects of the administration of Title IV aid. Just keeping up with the changes is a challenge, so it is not surprising that verification is one of the leading causes of compliance and audit findings-and a key issue in service challenges and escalated calls.