The Importance of Customer Service in Student Financial Services
By: Samantha Shores
Associate Consultant, Financial Aid Services
Customer service in the student financial aid office is not a new concept, but in an increasingly digital world, customer service is more important than ever before. Students and their parents are the customers in higher education, and student experience is a critical deciding factor in school choice. Timely communication about financial aid offers, disbursements, and proactive updates, combined with meaningful face time with counselors, all play a pivotal role in shaping that experience. These factors make exceptional customer service more critical than ever for fostering trust, reducing stress, and supporting student success.
Benefits of Excellent Customer Service in Financial Aid
When customer-centric models are implemented, many benefits can be achieved:
- Long-term brand trust
- Improved satisfaction scores
- A competitive recruitment edge
Institutions can improve their customer service practices by:
Supporting Students and Families
Applying for financial aid can be a complex and overwhelming process for many students and their families. They often have questions, concerns, and need guidance to navigate through the various aid programs, forms, and requirements. Sometimes these questions are not adequately addressed as 80% of students who applied for financial aid say they never met with an aid administrator one-on-one. Excellent customer service ensures that students and their families receive the support they need during this critical phase of their education journey.
Fostering Accessibility and Inclusivity
Good customer service ensures that all students, regardless of their backgrounds or circumstances, can access and understand the financial aid options available to them. This inclusivity is essential to provide equal opportunities for students from diverse socio-economic backgrounds.
Building Trust and Confidence
Financial aid plays a significant role in a student’s ability to afford higher education. When the student financial aid office delivers excellent customer service, it builds trust and confidence in the institution and the aid process. This trust is vital for students to feel assured that their financial needs will be met and encourages them to continue their education.
Creating a Positive Reputation and Institutional Image
The level of customer service provided by the financial aid office reflects the institution. Positive experiences lead to satisfied students who are more likely to share their positive experiences, contributing to a good institutional reputation and attracting potential new students.
Reducing Administrative Burden
Efficient customer service processes can help streamline administrative tasks and reduce the number of follow-up inquiries. By having well-informed staff who can address questions promptly, the financial aid office can function more efficiently.
Handling Complex Situations
Financial aid may involve unique or challenging situations for some students, such as special circumstances, appeal processes, or unforeseen financial changes. Excellent customer service helps address these complexities with empathy and care, finding suitable solutions for students in need.
Overall, exceptional customer service in the student financial aid office is a vital component in ensuring that students can access the financial resources they need to pursue their educational goals successfully. It creates a positive and supportive environment that contributes to the overall satisfaction and success of students throughout their academic journey.
Partner with FAS to Build a Better Student Experience
At Financial Aid Services (FAS), we help institutions build a better student experience. Our consultants are available to partner with you on an interim basis to optimize your financial aid department.
“The outcome of having FAS here has been a remarkable turnaround with improved customer service and streamlined processes. They also built up the confidence level of our staff.”
Partner with FAS to build a better student experience.