We recognize the challenges career school administrators face in managing their institutions, from streamlining operations to ensuring compliance with regulatory requirements. At Fame, we provide the support and tools needed to help you navigate these complexities and run your institution efficiently.
Financial Aid Processing Services
Why Use Our Financial Aid Processing Services
With over 45 years of experience in the higher education industry, Fame is a trusted provider of software for post-secondary schools. Our financial aid software solution is designed to streamline operations, reduce errors, and keep administrators up-to-date with the latest regulations. By partnering with Fame, career schools can focus on what matters – their students.
Our Financial Aid Processing Packages
Essentials
$$Per Month
Financial Aid Processing Software that allows the school’s FA Staff to perform the following tasks:
-
- Awarding of Federal Student Aid
- Ordering and Disbursing of Federal Student Aid
- ISIR Corrections and Verification
- Integrates with Fame’s Student Information System
- Fiscal Services and Reconciliation
- Automated Enrollment Reporting to NSLDS
- FA Procedures Manual
- Sample File Reviews
- 4 Hours of FA Training
- Support via Fame Help Center
- Compliance Alerts
Virtual Financial Aid Office
$$$Per Month
Everything included in Essential Financial Aid Processing Software, in addition a Virtual FA Officer performing school FA tasks:
- Pre-Enrollment College Financing Plan and Estimated FA Package
- NSLDS Transfer Monitoring
- Student Document Review prior to awarding Federal student Aid
- Review FA SAP Eligibility
- Title IV Credit Balance Determination
- Institutional Calculations and Return to Title IV
- Title IV Refund Processing
- Title IV Audit Reports
- Monthly Bank Statement Uploads and Reconciliation
Virtual Financial Aid Office+
$$$$Per Month
Everything included in Virtual FA Office package, plus Virtual FA Officer working directly with students to perform the following tasks:
- Pre-Enrollment Documents via Secure Email
- Federal Student Aid Application Assistance
- Federal Student Aid Counseling via Phone, Email, and Zoom
- Secure Digital Signature Request for Required Documents:
- Official Financial Aid Offer
- Verification Worksheets and Documentation
- Notice of Federal Student Loan Disbursement
- Remind Students via SMS to Submit Required Documents
Why Work with Fame?
Partnering with us means having access to over 45 years of industry experience and a proven financial aid management system that streamlines operations, reduces errors, and ensures compliance.
How our process works
We will be with you every step of the way.
Simplifies Processing
Our financial aid processing services is a proven platform that simplifies the management of financial aid records and streamlines the processing of financial aid awards, disbursements, and compliance reporting for post-secondary institutions.
Powerful Platform
Our services allow authorized users to access financial aid records and manage disbursements for federal grants, loans, and campus-based awards. These services integrate seamlessly with our Student Information Systems, ensuring smooth financial aid processing and awarding throughout the student life cycle. Additionally, our team of financial aid consultants conducts comprehensive business process analyses to guarantee compliance with regulations and reporting requirements.
See how Fame can help your school simplify financial aid management and support your students' success.
Start your journey with us.
FAQs
What is a third party servicer?
A third-party servicer is an individual, or a state, or a private, profit or non-profit organization that enters into a contract with an eligible institution to administer, through manual or automated processing, any aspect of the institution’s participation in any Title IV, HEA program. [Learn more]
Why does it matter who my third party service provider is?
According to the Department of Education, a third-party service provider is a vendor, contractor, or other entity that provides services or functions on behalf of an educational institution, such as financial aid processing, enrollment management, technology services, or student housing. These services may be outsourced to third-party providers in order to improve efficiency, reduce costs, or to access specialized expertise. However, educational institutions remain responsible for ensuring that the services provided by these third-party providers are in compliance with all applicable laws, regulations, and policies. Additionally, the Department of Education requires institutions to have written agreements in place with third-party service providers to ensure the protection of student data and privacy.
