Our team of financial aid professionals works in close partnership with clients.
By Sherri Savasta
For the past 29 years, Global has worked diligently as a Third-Party Servicer with Department of Education contact avenues to contribute to all discussions on Title IV financial aid proposed changes and implementations. Before Global’s creation, our founders oversaw the Student Financial Aid Service Center for a large multi-campus proprietary group. Global currently services institutions with all aid delivery methods and makes sure their perspectives are pushed out to the department for consideration. In a recent collaboration Global acted as a member of a focus group for the 2024-2025 award year transition.
Global acts on behalf of our full-service clients as part of their ongoing service; however, we also provide consulting to institutions that may need a more narrow service focus. GLOBAL Consulting can provide financial aid teams with guidance on new Title IV aid rules and regulations and changes to existing ones.
Many institutions cannot afford the luxury of a dedicated compliance resource to read through the rules and regulations surrounding participation in Title IV programs. Costs and availability of qualified staff these days have many institutions working with a skeleton crew.
Technical Knowledge, Remote Processing Solutions and Package Options
A premium consulting package with Global would include access to all Global team members who possess the technical financial aid knowledge required. This includes our CEO, CTO, Executive Director of Regulatory Affairs and Compliance, Director of Operations, Directors of Production Quality and Workflow, Director of Title IV Accounting, Subject Matter Experts and others as related to your needs.
Benefits
- A wealth of knowledge and experience that for many team members predates Global’s creation in 1996
- Our experience in financial aid processing with all aid delivery options for all size institutions
- Unlimited questions and calls about your financial aid process and the rules and regulations involved in administering Title IV aid programs
- A monthly flat fee costing less than the price of hiring a regular employee (salary plus the estimated 30 percent applicable employer costs) and having the advantage of a team of resources at your disposal
A standard package would include access to the specific subject matter expert(s) for your needs.
Subject Area Options
- Title IV Accounting
FISAP preparation
· COD and G5 - Regulatory Affairs and Compliance
Guidance on new and current regulations
· Student-specific aid questions
· Academic program delivery aid questions
· Financial aid program questions
· Financial aid written policies and procedures review - Operations
Academic program set-up guidance
· Clock to credit hour conversion guidance
· Campus-based funding awarding policy guidance
· FSA audit guidance
· FSA workflow implementation guidance
Benefits
- Unlimited questions and calls about your specific contracted financial aid area(s)
- A monthly flat fee costing less than the price of hiring a regular employee (salary plus applicable employer costs) and the advantage of having designated resources
Ad hoc packages: Need a one-time solution? Global can provide assistance in the areas listed below. This is not all-inclusive, so please reach out with any services not listed for further discussion.
- Remote processing in your system(s) – Global is experienced in all delivery scenarios for small to large institutions and performs the requested financial aid processing tasks, remotely working within the institution’s own systems once secure access is enabled. Global has experience in a variety of Student Information Systems. Training is typically limited to the orientation of Global consultants to institution-specific workflows.
- Long- or short-term engagements
File reconstructions mandated by auditor program review
· Return to Title IV calculations
· Clock to credit conversions
· Other - Compliance File Reviews – provides you with an objective set of eyes to assess the strength of your institution’s compliance
- Due diligence audits
Benefits
- We process aid daily and have for decades in all aid delivery scenarios
- Cost will be determined based on scope of services needed
- Allows your staff to remain focused on meeting your student service needs with minimal interruption of service
Global is always thankful for those who consider our services. We are a close-knit team of professionals and welcome new partnerships with clients.
For more information on consulting for Title IV financial aid, visit https://globalfas.com/solutions/consulting
Sherri Savasta is Global’s Director of Consulting. She has been with Global since 2006, bringing in-depth experience to financial aid processing solutions.