Most readers will be familiar with the shutdown of the Internal Revenue Service’s data retrieval tool (The Chronicle of Higher Education April 22, 2017), a cornerstone of the prior-prior year strategy designed to “dramatically simplify and improve the financial aid process.” While the tool is slated to be back on line in October, there are concerns that financial aid verification may remain an overly-laden process that consumes resources and works against lower-income candidates.
FolderWave has been there before. When service providers suffer a setback, we frequently position ourselves to assist them with testing and feedback while protecting our institutional partners from adverse impacts. In some cases, we’ve provided clients with our own workarounds. In the current crisis, we have developed a protocol that would allow Federal aid verification to be managed by FolderWave. The benefits are significant and immediate: a fully auditable process, full compliance, and rapid turnaround. All while freeing up staff for student service. For more information click here. §