4 Reasons to Hire a Financial Aid Compliance Consultant Now

Top 4 Reasons to Hire a Financial Aid Compliance Consultant

Institutions of Higher Ed, are held to high standards as set forth by the Higher Education Act. Over the years, the Higher Education Act has changed several times, and it has become increasingly difficult for colleges and universities to remain aligned with these changes. Now, schools and colleges have to meet state requirements, maintain accreditation standards those of the U.S. Department of Education. To meet these needs, colleges must hire the right executives and staff, invest in training and be prepared to scale important compliance functions when necessary. Most institutions of higher education leverage the power and knowledge of an accreditation consultant and/or financial aid compliance consultant. Here are the top 4 reasons to hire a financial aid compliance and accreditation consultant.

  1. Maintain Accreditation

 Students may not know a lot about accreditation, but with the subject being a hot button in the news presently, being accredited and in good standing with a reputable agency matters. A knowledgeable compliance consultant can help you maintain accreditation, prepare and respond to reports and actions and even change accreditors

2.    Remain In-Compliance with State and Federal Regulations

 Remaining in-compliance can be challenging, but that’s where a compliance consultant comes in. When you need program approvals, state licensure or to meet reporting requirements a compliance consultant can handle them all. Federal Regulations are much more onerous, often to the point of confusion. A specialized Financial Aid Compliance Consultant can help you make sense of the rules and regulations and help your organization adapt to changes and challenges.

  1. Identify Problems within Your Organization

 A consultant can swiftly identify problem spots within your organization through evaluations, assessments, and audits. The bonus? A consultant can offer realistic, effective strategies to solve any problems before they get out of hand.

  1. Get the Support Your Staff Needs

 It’s all about experience. If your internal staff is struggling, a consultant can provide the support your personnel needs. Good consultants are trainers and mentors to their clients and can help an organization navigating through complex problems by bringing experience from outside of the organization to the table. Someone experienced, can bring new and innovative solutions to organizations.

If you’ve ever considered hiring a consultant, consider this: a lot goes into running a college. A consultant will help you ensure that your school adheres to the goals and standards which contribute to the quality of education you provide. Strong administrative functions are needed in all college offices and particularly financial aid, finance, student accounts, and student affairs. With the right procedures, training and support, your school can focus on its mission – educating students. If you want to be the best, a consultant can help you get there.