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Financial Aid after QA – where to begin?

The end of the Quality Assurance Financial Aid Model – what do schools need to do now?

With the Department of Education’s Quality Assurance program a thing of the past, and verification for the 2017 – 2018 school year quickly approaching, there is tremendous opportunity to streamline your Financial Aid verification process. Many QA schools have been staffed to handle a smaller applicant pool and will quickly get overwhelmed with the increase in verification volume. 

And what’s even more critical is that enrollment revenue is put at risk when staff cannot complete verification of all applications within the required timeframe.

In some cases, the number of verifications that staff must perform will nearly triple this award season. This leaves you with three choices: hire more personnel, outsource work or automate your process. 

With OnBase financial aid verification, you:

  • Standardize the verification process to follow a well-established and tested model that your peer institutions are using successfully  
  • Eliminate the need to review each verification field by letting technology compare data and alert staff of discrepancies – allowing staff to focus on solving problems, not just identifying them
  • Remain compliant by digitizing documents that were previously paper or editable PDFs to ease verification and simplify audits

You no longer risk losing best-fit applicants because staff can’t keep up, which protects your enrollment revenue. You also improve the speed and quality of customer service, helping to ensure that students are registered for classes on time.

Have questions about how partnering with OnBase will better prepare you to handle an increase in verification volume and the resulting anticipated increase in Professional Judgement appeals? Fill in the form on the left to view a demo or register for our upcoming webinar.