March 2024

Key Session and Takeaways from the 2024 NACUBO SFS Conference

March 28, 2024

By: Nicole Verrett, FAS Vice President of Business Development

The FAS team attended the 2024 NACUBO SFS Conference in Las Vegas, Nevada. Among the enriching sessions, several key takeaways stood out as pivotal in shaping and reaffirming our approach toward communication strategies, student retention, and meeting the expectations of students. Here’s a summary of the key session and takeaways:

Key Session

Cooperative Leadership: How a Successful Team is Everyone’s Responsibility

FAS’ Consultant Jennifer Waters, Ph.D. led insights on reimagining operational structures in the face of unprecedented challenges due to staff turnover during the pandemic. The session also discussed leveraging new technologies, and vendor services, and optimizing recruitment, training, and onboarding processes to adapt to changing circumstances.

This session highlights:

Implementing cross-functional working groups to foster collaboration and ongoing professional development.
Utilizing assessment tools like annual employee surveys and engagement focus groups for continuous feedback and improvement.
Building a robust employee retention program grounded in cooperative leadership principles.

Key Takeaways

Communication Plans and Enhancing the Student Experience

Discussions centered around the importance of effective communication strategies in meeting the needs of students as institutions navigate problems with the rollout of a new FAFSA form. This has prevented many aid administrators from offering financial aid packages and left students confused about how much aid they can receive as important decision deadlines roll by.

Continually engage and communicate with students to build their trust and confidence in your institution.
When students are making enrollment decisions, they will likely choose the institutions that earned their trust and confidence.
University leaders should provide the resources financial aid offices need to provide estimated offers followed by official offers later this year. The campuses that do so will have an important recruiting and retention advantage.

Navigating the unprecedented delays of the new FAFSA rollout

Valuable insights into navigating the challenges posed by delays in FAFSA processing.

Developing contingency plans to address potential disruptions caused by FAFSA processing delays.
Leveraging technology and data analytics to streamline financial aid processing and allocation.
Collaborating with stakeholders to advocate for policy changes and reforms to expedite FAFSA processing timelines.

Gaining a Retention and Enrollment Advantage

Discussions revolved around the pressing issues of student retention and enrollment management.

Implementing targeted interventions and support services to address retention challenges at various stages of the federal student aid process.
Stay flexible with your deadlines when you can, including the billing dates that may start this summer or registration dates for current students.
Update your web pages to include the Cost of Attendance information for 2024-25 if you haven’t already and ensure the returning student portal remains current and relevant.

Registration Impact and Extended Processing Times

Implications of extended processing times on the aid processes need strategies to streamline registration workflows, enhance administrative efficiency, and mitigate the impact of processing delays on student accounts.

Implementing proactive measures to communicate registration deadlines and updates to students and staff.
Make sure your front-line staff is well-trained to answer questions and help families complete the FAFSA.
If you decide to provide estimated offers, this will require additional processing time from your team in the coming months. University leaders would be wise to provide the resources financial aid offices need to provide estimated offers followed by official offers later this year. The campuses that do so will have an important recruiting and retention advantage.

Check out the list of events FAS experts attend and maximize your time by scheduling a meaningful chat about FAS services.

FAS’ guidebook helps navigate the challenges surrounding FAFSA Delays.

Navigating the Maze of FAFSA Delays is a comprehensive resource that provides insights and strategies for Higher Education administrators on any level. It offers a roadmap for strengthening an institution’s confidence in federal compliance and regulatory standards. It is a vital resource designed to assist university presidents in identifying and addressing potential compliance issues related to the institutional administration of federal student financial aid.

Are you facing staffing challenges at your institution that will affect your ability to handle the current federal changes?

Contact FAS today for a quick consultation on how we can help you discover solutions tailored to your unique needs. Reach out at 770.988.9447 or via email at info@FinancialAidServices.org. We look forward to connecting with institutions ready to overcome challenges and elevate their financial aid and student business services.

About FAS

Financial Aid Services, LLC (FAS) has served higher education for over 30 years. Located in Atlanta, Georgia, FAS provides consulting, staffing, processing, and assessment services to assist institutions with improving operational efficiency, student satisfaction, and regulatory compliance in financial aid and student business services. FAS’ accomplished team averages 28 years of experience and has a combined 1,600 years of higher education experience. With clients in 49 states, FAS has successfully served over 1,800 institutions nationwide. The Company’s extensive experience combined with industry-leading expertise and focus on superior client outcomes, enables FAS to deliver lasting results to its clients and the students they serve.

Key Sessions and Takeaways from the 2024 SASFAA Conference

March 7, 2024

By: Nicole Verrett, FAS Vice President of Business Development; Maureen Anderson, FAAC®, Vice President of Consulting Services; Aria Simmons,FAAC® FAS Senior Consultant

With all of the changes this year due to the roll-out of the FAFSA Simplification, this year’s SASFAA training conference was paramount for administrators and Financial aid officers. The Conference served as a crucial platform, equipping the FAS team and SASFAA conference attendees with invaluable, up-to-date insights into student aid programs and to implement any changes to better serve our students – a vital training and professional development opportunity that cannot be gained anywhere else. Here, we present the key sessions and takeaways gleaned from this year’s SASFAA Conference, providing a snapshot of the essential knowledge gained by our team.

Key Takeaway 1: Record Attendance

The conference witnessed record attendance, signaling a resurgence of engagement within the industry post-pandemic. This surge in participation underscores the collective commitment to knowledge-sharing and professional development, fostering a vibrant community of practitioners.

Key Takeaway 2: FAFSA Simplification Uncertainty

The uncertainty surrounding FAFSA simplification remains a focal point of discussions among institutions. The prospect of potential changes looms large, necessitating proactive measures to adapt to shifting regulatory landscapes and ensure continued compliance.

Key Takeaway 3: Continued Vagueness from ED

The Department of Education Staff shared that they will do everything they can to support us. Over 4 million FAFSA have been submitted, this does not count the students that submit the document by paper. FSA has changed some of the verbiage based on some of the responses from students, there is an increase in missing parents SSN.

Phased Approach to ISIR Distribution: The Federal Student Aid (FSA) is initiating a phased approach in sending out test ISIRs to colleges and universities for them to evaluate their processes. Once the testing phase concludes and all Student Aid Index (SAI) tables are updated, FSA will commence sending batches of ISIRs to kickstart the awarding process for the 2024-2025 academic year. These ISIRs won’t be dispatched all at once; instead, FSA will start with smaller batches, gradually increasing the number as they ensure the smooth operation of the process.
- The SAI table required an additional adjustment, that would impact dependent students SAI allowing the negative SAI to not be capped at -1500. Since the conference, NASFAA shared via their daily newsletter that the House of Representatives released a draft resolution to rescind the update to the formula ensuring that the SAI has a floor of -$1.500.00.
Department of Education Support: Institutions are actively seeking assistance following the recent announcements from the Department of Education. The initiatives outlined in the announcement aim to better support schools and students, emphasizing the importance of leveraging available resources to navigate the evolving landscape effectively.
Unprecedented Pell Data: A notable revelation from the conference is the forthcoming unveiling of Pell data that will challenge conventional understandings of Pell eligibility. The emergence of outliers in this data will compel institutions to reevaluate their perceptions of needy students, prompting a reexamination of existing methodologies and support mechanisms.

Key Takeaway 4: Connecting with FAS Clients

Meaningful interactions during group dinners provided opportunities for FAS to engage with clients on a deeper level, addressing their specific needs and concerns. These conversations underscore the importance of personalized support in navigating complex financial aid challenges.

Nolteworthy Session: Gainful Employment

Justin Draeger, NASFAA President was joined by Dana Kelly, NASFAA VP of Professional Development and Institutional Compliance, and Brad Barnett, AVP for Access & Enrollment Management @ James Madison University to discuss Gainful Employment.
- Start the conversations on your campus now and involve the:
  - Academic Affairs
  - Financial Aid & Scholarships
  - Graduate School
  - Planning, Analytics, & Institutional Research
  - Registrar’s Office
  - School of Professional and Continuing Education (SPCE)
  - State Authorization Compliance Officer
  - University Business Office
- Decide who owns the responsibility of reporting the information.
- Review the Final Regulations

Check out the list of events FAS experts are attending and maximize your time by scheduling a meaningful chat about FAS services. Check Out The Upcoming Events Here.

FAS’ guidebook helps navigate the challenges surrounding FAFSA Delays.

Navigating the Maze of FAFSA Delays is a comprehensive resource that provides insights and strategies for Higher Education administrators on any level. It offers a roadmap for strengthening an institution’s confidence in federal compliance and regulatory standards. It is a vital resource designed to assist university presidents in identifying and addressing potential compliance issues related to institutional administration of federal student financial aid.

Are you facing staffing challenges at your institution that will affect your ability to handle the upcoming federal changes?

About FAS

Financial Aid Services (FAS) has served higher education for over 30 years. Located in Atlanta, Georgia, FAS provides consulting, staffing, processing, and assessment services to assist institutions with improving operational efficiency, student satisfaction, and regulatory compliance in financial aid and student business services. FAS’ accomplished team averages 28 years of experience and has a combined 1,600 years of higher education experience. With clients in 49 states, FAS has successfully served over 1,800 institutions nationwide. The Company’s extensive experience combined with industry-leading expertise and focus on superior client outcomes, enables FAS to deliver lasting results to its clients and the students they serve. Visit www.FinancialAidServices.org for more information.