may 18, 2010 easfaa conference 2010. irvin bodofsky ◦ director of financial aid emeritus ◦ suny...
TRANSCRIPT
May 18, 2010EASFAA Conference 2010
Irvin Bodofsky◦ Director of Financial Aid Emeritus◦ SUNY Upstate Medical University
Dr. William Irwin◦ Director of Financial Aid Emeritus◦ Lock Haven University
Michael McGraw◦ Director of Financial Aid Emeritus◦ Tompkins Cortland Community College
To share with you what we have learned in the past couple of years about outsourcing and how to make it work for you.
In the interest of transparency…◦ We do consulting, both independently and for
companies.◦ We are receiving financial compensation for being
here from ProEducation Solutions, LLC.
Increased applications
Increased federal regulations
Reduced resources
Direct Loan legislation
Need for training
Increased applications caused by
Negative economy
Rising costs
Parent and student uncertainty
Increased federal regulations
Verification increased selection of Pell eligible how do you track 30%
More cases of conflicting information
2 Pell Grants per year
Reduced resources:
Staffing
Training
Hardware, software and IT support
Direct Loan transition
Impact on staff time
Assignments
Need for training
For professional and support staff, regardless of tenure
Cost of training?
Does your institution support training?
It’s time to re-think your business practices.
The status quo will not continue to be productive.
Hire new staff?
Overtime for current staff?
Hire temporary staff?
Close office for processing?
Hire consultants?
Outsource?
Hire new staff?
Economic conditions prohibit this
Overtime for current staff?
Burnout issues
Impact on retirement benefits
Hire temporary staff?
Do you have a pool of qualified people?
Close the office for processing?
Bad for customer service
Make problems worse
Hire Consultants?
Costly
Outsource?
Negative image
Access to qualified staff
You can control costs - you know how much you will be paying
Another set of eyes may find ways to streamline and improve your process
May help you see things that are slipping by (regs, policies, etc.)
Can be for a defined period of time, or ongoing
Image is negative
How do you insure quality control
Contract process
Buy-in from staff, supervisors, other offices
Union concerns
issues - regulatory process
Cost considerations –
additional expenses for travel and lodging
IT considerations -
remote access, security
Carefully define the scope of work (cost, processes, etc.)
What about insurance/bonding, confidentiality documents/training?
Customer service issues - processing time can now be devoted to customer service.
Need to have solid policies and procedures.
How will consultants be trained?
How will quality be controlled?
Get buy in from other offices, especially IT!
Add third party servicers to ECAR asap.
It’s time to re-think your business practices.
The status quo will not continue to be productive.