Back Office Financial Aid Administration
Back Office services include file review, loan certification, disbursement processing, Title IV accounting, reporting and compliance.
Global's Back Office financial aid administration uses people, best practice processes and state-of-the-art technology to help colleges focus on strategic priorities including access, curriculum, faculty and student service. Back Office is a comprehensive service where our staff reviews electronic student file documentation and makes the final eligibility decisions for your institution. We then process the Title IV loan certification, electronic transmission for guaranty, Pell and SEOG disbursement, and all required reporting for the United States Department of Education.
The Basics
The core behind our Back Office financial aid administration service is our SAINT Director technology. SAINT Director is a system that is highly flexible allowing for the packaging of students in a traditional one-on-one environment, or students can be packaged in groups, or when combined with our SAINT Software as a Service Financial Aid System students can self-package and the information is automatically contained in SAINT Director. The system provides real-time processing of documentation and provides automated calculations of awards of Title IV and alternative source funding, increasing the efficiency, productivity and accuracy of financial aid professionals. SAINT Director provides appropriate required documents for each student and has built-in scanning capabilities for non-electronic documentation. Documentation is provided to Global for compliance review in an electronic format.
Colleges continue to set strategy, policy and governance while Global provides day-to-day administration using best practice processes and state-of-the-art technology.
Global offers Colleges economies of scale and expertise that improve efficiency, improve sophistication and reduce costs. Financial and management time savings can be deployed to strategic priorities rather than administration. Global has extensive experience with both the Federal Direct Student Loan program and the FFELP program. In 2008 Global disbursed over $3 billion in financial aid for our College clients.
SAINT Director Features
- Internet-based interface eliminates export/import of ED data (i.e. ISIRs, SSCR, Corrections, etc.)
- Upon receipt of EFC from ISIR or Need Analysis, system automatically creates award letter alternative source funding
- Provides for "paperless" online documents
- Sophisticated, automated packaging system driven by client packaging philosophy
- Flexibility to package one-on-one or in a group environment
- Integrates with your Student Information System
- Provides system offices with portals to access reports, student status and other information
- Complete RFMS/COD processing for Federal Pell reporting
- Global's staff handles the draws and reconciliation for Federal Pell, SEOG, FWS and Federal Direct Student Loans
- Automated guaranty of FFEL loans using CommonLine interfaces with all major lenders and guaranty agencies
- Comprehensive Title IV accounting service, including filing the FISAP report
- Federal Direct Student Loan processing
When is it right for you?
Global's Back Office financial aid administration service is ideal for Colleges that meet one or more of the following criteria.
- Colleges that want to improve efficiency and reduce costs by centralizing multiple campus operations.
- Colleges that want to improve student service and packaging cycle times.
- Colleges that want to improve financial aid cash flow.
- Colleges that need expertise for Federal Direct Student Loan processing.
- Colleges that are starting a new online/distance unit and need resources to complement the ground campuses.
- Colleges that need to improve compliance.
To learn how Back Office administration can help your institution, please call 214.208.0436 or contact us today.