Compliance is THE critical component of your financial aid office’s successful, trouble-free operation. Compliance is not an option; it’s essential. Failure to comply due to systemic errors could result in enormous institutional liabilities. Considering that your school may be assessed for each student file violation, having ECM by your side can save you tens of thousands to hundreds of thousands of dollars in disallowed disbursements. ECM recognizes the significance of these events. That’s why we support your office proactively with a Vice President of Compliance and Training, Senior Level Compliance Consultants and a dedicated Compliance Help Desk.
Included as part of our regular service – at no extra charge – we encourage you to ask us any compliance question, no matter how insignificant it may appear to be. We will answer every question based on our years of experience, backed by citations from the Federal Register or obtained directly from the Department of Education. ECM is also proactive in monitoring your policies and procedures. Our Monthly newsletters and periodic memos keep you current with constantly changing financial aid regulations.
In anticipation of the inevitable U.S. Department of Education Program Review, ECM will provide exceptional support to your financial aid staff. This includes a final edit of your school's policies and procedures, assistance with creating a spreadsheet of students with their Title IV disbursements, as well as all the reports that the USDE requires when they conduct a review. This kind of support makes a potentially stressful process feel routine and less painful with consistent, positive results.
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