Financial Aid Verification Services

The Vendor is required to provide for financial aid remote review and verification services to assist college in preparing student financial aid files for awarding.
- Service Requirements:
•    Remote financial aid services and complete verification of institutional student information report’s (ISIR), including reviewing all verification documents; 
•    Request and collect all documents required for clearing conflicting information and any documents necessary to prepare and finalize a file for awarding; 
•    Submit corrections to the department of education as required and ensure return of corrected transactions to college’s financial aid office through banner; 
•    On the spot monitoring and supervision of file reviewers/verification specialists; 
•    Be cognizant of “red flags” that could indicate fraud/abuse and escalate those files to the director of financial aid; 
•    Utilize web-based forms to collect student /parent information; 
•    Utilize a management system that provides a seamless flow of information between the vendor and college financial aid staff; staff from both entities will be able to track and share files and comments on student files to provide a seamless experience for students; 
•    Use a support interaction management system (sims) to integrate with the college’s financial aid system; 
•    Provide real time access to information by college staff that details the current status; 
•    Work with the college to develop and maintain a current knowledge base of file review/verification information that will be available to the vendor and to college financial aid staff for ready reference; 
•    Collect and analyze data concerning trends and patterns or inquiries to identify potential problem areas; keep the college apprised, using a schedule that is mutually agreeable to the college and the contractor, of these areas to promote continuous improvement in our processes; 
•    Provide data reporting options to support data-driven decision-making by the college.

- Contract Period/Term: 1 year