How Student Finances At Your School Essay

854 WordsJun 21, 20164 Pages
How to Streamline Student Finances at Your School This article will explain how school administrators can use one system to manage students ' financial aid data. The admissions office, registrar and accounting department can have access to the same data simultaneously. A school’s accounting procedures and financial management systems can have a significant impact on the effectiveness and accountability for all funds received by the U.S. Department of Education as well as the ability of school staff to serve students as quickly and efficiently as possible. As a school administrator, you probably already understand the complex intricacies of managing student finances. However, you may not realize how crucial each step can be for streamlining student finances at your school. Synchronizing Operations and Responsibilities When it comes to managing student finances and financial aid, the departments primarily responsible for keeping things running smoothly are admissions, bursar and accounting. Especially when you’re dealing with financial aid benefits like the Federal Work-Study Program, the financial aid department usually authorizes awards as well as monitors student earnings. However, the bursar’s office usually processes payroll and manages the school’s non-federal share of Federal Work-Study programs. Managing Student Financial Aid Managing Federal Student Aid assistance is a school-wide responsibility, which means that when FSA program funds are provided, all offices at
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