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Remote Financial Aid Processing Services

Financial aid management can get complicated without the help of third-party services. Career schools must manage student aid, comply with regulations, address monetary concerns from students, and minimize errors that could delay the financial aid process.

If you want to outsource your financial operations to a reliable school management specialist, then it’s time to partner with Fame’s Virtual Financial Aid Office. With decades of experience in higher education, we provide excellent remote financial aid processing services to streamline your work and empower your institution for success.

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Why Use Our Remote Financial Aid Processing Services

With a rich history as a Title IV Third Party Processor for post-secondary schools, we are proud to introduce Fame’s Virtual Financial Aid Office. Career schools often grapple with the complexity of financial aid operations and retaining staff. Our remote financial aid processing services are crafted to streamline operations, save costs, and mitigate the risks associated with noncompliance. Our Virtual Financial Aid Office accommodates everything necessary to streamline your school’s financial tasks.

Additionally, our experts can help your school comply with Title IV funding requirements by assisting administrators in navigating new regulations. No more worrying about whether student aid meets eligibility requirements or dealing with financial audits that might affect compliance.

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Our Remote 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
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    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 
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    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 
    • Notice of Federal Student Loan Disbursement 
    • Secure Digital Signature Request for Required Documents: 
    • Official Financial Aid Offer 
    • Verification Worksheets and Documentation 
    • Remind Students via SMS to Submit Required Documents
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    What is Remote Financial Aid Processing?

    Fame’s Virtual Financial Aid Office is the solution for career schools seeking to outsource some of their financial aid operations. Fame’s Virtual Financial Aid Office+ is for career schools seeking to outsource 100% of their financial aid operations. Fame’s services aim to save costs, enhance efficiency, and ensure compliance with federal requirements, relieving your staff from having to concentrate on these critical responsibilities.

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    Why Should Schools Outsource Financial Aid?

    Think about what goes into providing an excellent educational experience for students. As a school administrator, you much determine ways to boost student satisfaction and establish a successful education program with proven results.

    Outsourcing financial aid processes is a strategic move to free you up to focus on what matters most—student success. With a third party handling financial aid services, you can focus on:

    • Accelerating the enrollment process.
    • Increasing retention rates.
    • Equipping students with valuable resources and support services.
    • Providing an unmatched classroom experience.
    • Ensuring students have the best resources for their chosen careers.
    • Improving graduation rates.
    How We Compare

    Benefits of Fame’s Remote Financial Aid Processing

    1

    Convenience

    Access financial aid services remotely, improving accessibility for both staff and students.
    2

    Flexibility

    Tailored solutions to meet the unique needs of your institution.
    3

    Efficiency

    Streamline financial aid operations for smoother workflows.
    4

    Additional Resources

    Leverage Fame's expertise and resources for comprehensive support.
    5

    Distributed Information

    Disseminate information simultaneously to various stakeholders.
    6

    Enhanced Student Support

    Focus on student needs with dedicated resources.
    Industries We Serve

    How our process works

    1

    Document Request & Tracking

    Efficiently manage and track required documents.
    2

    Pre-Enrollment Federal Student Aid Requirements

    Ensure compliance with federal aid prerequisites.
    3

    Federal Student Aid Application Assistance

    Assist students in the application process.
    4

    Verification Support

    Streamline the verification process for accuracy.
    5

    Financial Aid Counseling

    Provide expert guidance to students.
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    We will be with you every step of the way.

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    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

    It enables authorized users to view financial aid records and review scheduled disbursements for federal grants, loans, and campus-based awards. It also integrates with our Student Information Systems for seamless delivery of financial aid processing and awarding throughout the student life cycle. Our team of financial aid consultants conducts a business process analysis to ensure 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.

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