Technical Knowledge & Solutions

Carla Arsaga -

By Sherri Savasta

As we approach the Thanksgiving holiday, many pause to reflect on things for which they are grateful. This pause is a wonderful time to hit a reset button in our lives. It may not be as dramatic as New Year’s resolutions but may be more impactful as it’s not broadcast on TV, competing with all the fitness and holiday diet ads. However, these ad references may come in handy if the indulgences take a wayward turn over the holidays.

The financial aid world is not a calm, quiet or serene environment in which to live, and there is always something new and challenging.

During the trying transition for the 2024-2025 award year, Global was thankful for the opportunity to be included in one of the Department of Education’s focus groups. By participating in the discovery meetings, we were able to present both our and our clients’ perspectives on how the new FAFSA rollout would impact us and them. We gleaned and provided valuable insight, and our clients were able to initiate COD reporting and disbursing beginning in June 2024.

Global has a depth of technical expertise throughout our organization, from our founders to those who have joined forces with us over our 28 years in service to the Title IV student aid community. As such, we are available to give a helping hand to those in need of technical and hands-on resources.

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 G6
  • 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 services 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. We wish all a wonderful Thanksgiving holiday!

Sherri Savasta is Global’s Director of Consulting. She has been with Global since 2006, bringing in-depth experience to financial aid processing solutions.