There are many reasons why schools may wish to offer Federal Title IV Financial Aid to their students. Most students, regardless of their family income, are eligible for Federal Student Loans. If they qualify, they may also receive Pell Grants, which unlike loans, do not have to be paid back. These two federal aid programs enable students to pay for the cost of attending your school, when they might not be able to do so on their own.
The Title IV Application Process: A Daunting Set of Tasks
Applying for and successfully receiving eligibility to participate in the Title IV Financial Aid Programs can be a frustrating and lengthy process for schools that attempt it without guidance. The 40+ page application alone is far from intuitive. ECM will help to navigate you through the completion of this task and save you time by ensuring that all questions are answered accurately and completely.
After the application is electronically submitted by ECM via the U.S. Department of Education (USDE) Internet site, we will assist you in preparing the required policies that must be reviewed by USDE in order for your application to be approved. We will also work with your Certified Public Accountant to ensure that your school’s audited financial statements meet USDE guidelines.
Finally, we will monitor the progress of your application and correspond with USDE officials, should they have any questions. After your school is approved for eligibility, ECM’s primary focus as your Third-Party Servicer will be to proactively help you through all the steps necessary to initiate Federal Title IV funding.
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