Q. What are the
benefits of having a third party servicer?
Quick turnaround of
System of checks and
Access to expert advice
and problem solving skills based on
More time for you to do
what you do best-educate students
Q. How much
is it going to cost me?
A. A fraction of what you would have to pay for a full
time Financial Aid Director with full knowledge of Title IV
funding regulations and all the processes involved. We will
meet with you to discuss your individual school needs and find a
package that is suitable to your budget.
Q. Will I need to have a Financial Aid Director on
A. You will need to have an entry level financial aid employee
on site to assist the student with their financial aid questions,
collect the necessary documents, explain awards and counsel
students in debt management.
Q. Will FAT$TAF, LLC train us in the
A. Yes, we will provide all the training you need to
successfully administer Title IV funding at your school.
Q. How often will I receive money for my student's
tuition and fees?
A. Once all the necessary paperwork is processed on any given
student you will receive money each time the student completes the
necessary hours or credits and satisfactory progress requirements
to advance to the next payment period. FAT$TAF, LLC attempts to
draw down funds weekly for each school that it services.
Q. What functions will we have to do
A. You will need to ensure that the student has completed a
FAFSA and an MPN online and collect any verification paperwork.
You will determine the student's eligibility for Title IV and
present them with an award letter. FAT$TAF, LLC will review,
verify, make the final approval of aid, do the backend processing
and draw down the funds from the USDE. Once you receive the
money you will need to disburse it to the student's account in a
timely manner and issue any credit balances due the
student. More details will be discussed and training
provided once you are enrolled for our third party services.
Q. Do we need
A. No, for the most part
you will not need special software for our part of the process
however most certainly school software programs make it much
easier to manage your student records. To utilize FAT$TAF, LLC
services at a minimum you will need to have internet, e-mail,
faxing, scanning and printing capabilities.