Categories: Blogs

by Brad Smith

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The New Year is just around the corner and as we prepare for new opportunities, we would like to recap the past year in financial aid. In 2022, we have worked diligently to be the greatest support to the ECM Family of Schools and assist them in achieving their Financial Aid goals. Our leaders share best practices to help financial aid offices become efficient. Below, please find a brief overview of the top five most read blog posts over the past year.

1. Top 5 reasons Schools Need to Review their Policies and Procedures Annually:

Errors do not usually arise in isolation and when there are multiple findings, the associated costs can add up rather quickly. Liabilities are placed against schools for findings such as awarding funds to ineligible programs or ineligible students and mishandling of federal funds. The financial & administrative penalties illustrate how important it is for schools to avoid findings from an ED program review by reviewing the institutional policies and procedures annually.

2. 5 Effective Ways To Write Policies And Procedures:

If you are a Financial Aid Director, Enrollment Manager, Administrator, or School Leader, ensuring your institution’s compliance policies and procedures are up to date is a key factor to remaining in compliance.

3. 5 Tips to Help Your Financial Aid Staff Cope with the Fall Burnout:

Keeping employees positive and motivated is essential for efficient, error-free processing. Educational Compliance Management Inc. recommends these practices to help with this goal.

4. 7 Crucial Updates Of Federal Student Aid Eligibility For Borrowers With Defaulted Loans:

On April 6, 2022, the United States Department of Education announced its Fresh Start initiative, which the effects of defaulting on a student loan for borrowers who entered default before the COVID-19 related payment pause on federal student loan.

5. Top 5 Ways To Boost Compliance In Your Financial Aid Office:

Improving compliance in your financial aid office enables you to spend more time focused on the student rather then responding to annual audit or program review findings. Your policies and procedures should be looked at as everchanging documents and reviewed on an ongoing basis to ensure your school remains in compliance.

Please feel free to share this article with your friends and colleagues. Leave the heavy lifting of processing to Educational Compliance Management Inc. and experience the difference from the beginning. Get in touch with us today, your institution is unique, so is our solution. Visit our website: ECMFINAID.COM

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