The Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed on March 27, 2020, providing important temporary financial aid allowances to assist students during the pandemic. Here are the five most significant changes that the financial aid department at your Christian college needs to be aware of: 1. Temporary Loan Relief The CARES Act […]
Student loan debt exceeds a staggering $1.5 trillion among 42 million people.[1] Many of the students in our Christian higher education schools are part of that statistic. When our students lack financial literacy, they suffer, but so does our school. While we are in the business of preparing students to be successful in the workforce, […]
Christian college is a big investment, but each future Christian leader is vitally important to our communities. This is why financial stewardship skills can be a great addition to the education students receive in a Christian college. After all, it’s part of a Biblical worldview to be prudent with one’s finances. And good money management […]
Give back the money!? That’s right. Violations of financial aid verification remain in the top 10 most common audit and program review findings for the past three years and that can lead to students receiving ineligible disbursements and schools having to return their federal funds and possibly incur penalties and/or fees. To help avoid this, […]
Given the increasing and rapidly changing risk, cybersecurity should be a key focus for all higher education institutions. Institutions collect and store a wide variety of data across many departments, ranging from health and financial information to intellectual property. Students and their families, employees, and the general public have high expectations for how your institution […]
Why are repayment rates and median debt loads so prevalent in the discussion of higher education outcomes? More importantly, what will it mean for your school? With $1.5 trillion in student loans currently outstanding, the focus on student debt loads and the repayment of that debt has moved to the forefront of the Higher Education […]
Your Board of Trustees has determined that your institution should offering Title IV financial aid, but many questions remain. Examples of such questions are: Are we required to participate in the student loan programs or can we just participate in the Federal Pell Grant Program? We are a new institution. How long do we have […]
Gone are the days of siloing responsibilities and each office working independently. While segregation of duties and internal controls remain vital to a higher education institution’s health, they are insufficient on their own. A failure to thoughtfully consider the related impacts between functional areas or departments creates business risks that may stilt your institution’s ability […]
We are frequently asked, “How will my institution be negatively affected by participating in the Higher Education Act Title IV student financial assistance programs?” Student aid myths abound. Many negative tales are spread by well-meaning people that convince some institutions to not participate in these programs. We have even heard of college presidents, directors, and […]
As you move forward in 2018, you may have already started to act on personal health or financial issues, but not items of concern in your institution’s Federal funding program. Some of those issues may seem insignificant and not worth the effort to review, but if not addressed and acted upon, they will likely result […]
