The Department of Education regulates how financial aid is to be administered, which classes qualify and the amount of Title IV financial aid that can be awarded for remedial and repeated coursework. It’s a complicated web of guidelines, compliance and risk.
Risk is another four-letter word. When it comes to the ED, one slip and an institution can be in for a painful audit and hefty fees. Perhaps even worse, reputations can suffer and have a ripple effect in enrollment. When students are comparing colleges, you can bet they are considering the quality of the financial aid package and how well it is administered.
HighPoint Financial Aid Course Auditor is just one way we simplify the financial aid process, reduce the potential for non-compliance and improve student success. We integrated our product with PeopleSoft Campus Solutions to help institutions more easily comply with ED’s regulations on Course Applicability, Remedial Coursework and Repeat Coursework.
Financial Aid Course Auditor enables institutions to identify situations that fail to meet eligibility by automatically flagging these classes in PeopleSoft after the student registers for a class. Administrators and students are instantly notified of the courses that will or will not qualify for aid, or those that only qualify for partial aid. Administrators don’t have to waste time cross-checking and students no longer set their schedules only to be surprised to find one or more of their classes doesn’t qualify for financial aid.
Our solution significantly reduces the amount of time both administrators and students spend on the enrollment and financial aid verification process. It also mitigates the risk for non-compliance. By communicating with students which courses qualify for financial aid and helping them take only the courses applicable to their program of study, students are more likely to graduate on time with less debt. No other company provides a packaged solution that fulfills all of these objectives.
We enhanced the capability of PeopleSoft Campus Solutions by automating course audits and communicating the information immediately to administrators and students. We think students would rather know if a class qualifies for financial aid right after they enroll, not days later. All of our features address the specific pain points administrators and students face when dealing with financial aid.
Automated notifications of course eligibility per major
Identification of which courses qualify for full or partial credit
Notification of which, if any, remedial or repeated coursework does not qualify
Can be used in conjunction with HighPoint Financial Aid Automation, HighPoint Schedule Builder, HighPoint Roadmap, HighPoint Degree Planner and HighPoint Mobile
HighPoint Financial Aid Course Auditor is an add on application that sits inside PeopleSoft Campus Solutions.
Using our setup tables, institutions define the plans that will be evaluated by the process as well as any course exceptions to the course applicability, remedial units or repeat coursework rules. The Financial Course Audit process is run in conjunction with the advisement report to evaluate the eligibility of each course.
The Financial Aid Course Audit process ensures that the student’s financial aid load is updated to only account for courses that are in the student’s program of study and that do not exceed the permissible limits for remedial credits and repeat coursework. Students are able to view the financial aid impact on their classes with messages informing them of the classes not covered by financial aid as well as the reason why. Staff also has the ability to view the output of the process and grant exceptions when needed.