|Financial Aid Services founded in Atlanta, GA
David and Gay Gray founded Financial Aid Services (FAS) on January 10, 1991 in Atlanta, Georgia to provide consulting, processing, on-site staffing and other customized services to assist colleges and universities with improving operational efficiency, student satisfaction and regulatory compliance. FAS has served more than 1,400 of the nation’s public and private colleges and universities in 46 states for over 25 years.
FAS was the first company to provide such services to traditional colleges and universities. In its earliest days, the firm worked with Emory University, Georgia Institute of Technology and Mercer University. Since then, FAS has continued to enjoy long-term relationships with many of the country's colleges and universities. During its years of serving higher education, FAS has managed more than 1,800 successful engagements and processed more than 1.5 million student files.
|First On-Site Staffing Project
The first on-site staffing project was performed in 1994. Gray, himself, served as interim director of financial aid for a University located in North Carolina. During that time Gray lived in the attic of the University’s Alumni House. He shared this small space and one bathroom with a team of consultants who were working on another project.
|ED Acknowledges FAS' Exceptional Performance
FAS has long enjoyed a good relationship with the U.S. Department of Education (ED). Over the years, FAS has worked closely with ED officials to help institutions respond to program reviews and to rebuild their financial aid offices. After calling on FAS to help address audit issues with the U. S. Department of Education, several institutions have significantly reduced the amount of liability incurred. ED has acknowledged FAS for exceptional performance on files submitted for reimbursement, under the Heightened Cash Monitoring (HCM) federal funding method.
|FAS and ED Collaborate
In 2005, FAS and ED took on the monumental task of assisting colleges and universities impacted by the devastation of Hurricane Katrina. Their collaborative efforts to assist institutions and students were documented and became part of the Disaster Recovery Plan ED now has in place.
|FAS and Partners Bring Processing Into Digital Age
Through an initial pilot project with the North Carolina Community College System in 2012 and subsequent one at the University of North Carolina System in 2013, FAS and its partners turned a concept into service which catapulted financial aid processing into the digital age. The new approach to federal verification streamlined the Student Experience and relieved financial aid staff from the burden of document collection and follow-up. Institutions have credited this service for having 50 percent more financial aid available at registration, a sharp decline in receivables and cutting the financial aid staff’s compensatory time by over 1,200 hours. Reducing the turnaround time on verification has allowed many colleges and universities to not only meet, but also exceed their goals for financial aid and enrollment.
|FAS Celebrates 25 Years
The firm’s team of knowledgeable consultants, each with an average of 27 years of experience, has always been relentless in delivering long-term client satisfaction. FAS professionals bring unparalleled financial aid experience in a variety of institutional settings. All are former financial aid administrators whose innovations have fostered improvements in student satisfaction, enrollment, cash flow and regulatory compliance. Members of our team are frequently invited to present at regional and national conferences.
As FAS embarks on its next quarter century, the team continues to provide excellent service to its clients with the highest commitment to quality, integrity and mutual respect.