Course Description
Many college and university students rely on financial aid to fund their education. Administrators are responsible for not only distributing this aid, but also ensuring that it’s done in compliance with state and federal laws. Navigating the complex financial aid landscape can be challenging, so it’s important for administrators to know how to complete the process effectively and offer helpful assistance to students throughout.
In this course, you will learn about the policies, procedures, laws, and regulations involved in student financial aid administration. We’ll go over the various types of loans and how they are disbursed as well as the application processes and requirements. You’ll learn about how coursework affects eligibility, the role of Satisfactory Academic Process, and how to safeguard student aid funds. By the end of this course, you’ll be equipped with the knowledge required to provide students with the financial support necessary to pursue their academic goals.
Learning objectives:
- Identify SAP
- Learn the difference between grants and loans
- Understand the loan disbursement process
Skills You Will Learn
- Financial Aid Procedures
- Financial Aid Management
- Fund Administration
- Loan Disbursement
What You'll Learn
- Identify Satisfactory Academic Progress (SAP) and administer a fair SAP policy
- Distinguish between grants and loans and understand how government grants and loans work
- Understand the loan disbursement process, including authorizing and reconciling disbursed federal student aid
- Apply the policies, procedures, laws, and regulations involved in student financial aid administration
- Review student coursework and eligibility, including Expected Family Contribution and award years and loan periods
- Safeguard student aid funds by maintaining institutional checks and balances and reporting fraud
Key Takeaways
- Financial aid administrators are responsible for distributing aid and ensuring it is done in compliance with state and federal laws.
- The course covers the various types of loans and how they are disbursed, along with application processes and requirements.
- Coursework affects student eligibility, and Satisfactory Academic Progress (SAP) plays a role in determining eligibility.
- Administrators must follow requirements for disbursing, refunding, and returning federal student aid funds and adhere to the federal annual schedule of activities and deadlines.
- Maintaining comprehensive financial records and institutional checks and balances helps safeguard student aid funds and resolve discrepancies.
Frequently Asked Questions
Who is this course for?
It is for college and university financial aid administrators who are responsible for distributing financial aid and ensuring it is done in compliance with state and federal laws.
What does this course cover?
It covers the policies, procedures, laws, and regulations involved in student financial aid administration, the various types of loans and how they are disbursed, application processes and requirements, how coursework affects eligibility, the role of Satisfactory Academic Progress, and how to safeguard student aid funds.
What skills will I gain from this course?
You will gain skills in financial aid procedures, financial aid management, fund administration, and loan disbursement.
What will I be able to do after completing the course?
By the end of the course, you will be equipped with the knowledge required to provide students with the financial support necessary to pursue their academic goals.
Does this course explain the difference between grants and loans?
Yes. The learning objectives include learning the difference between grants and loans, and lessons cover how government grants and loans work.
