New NASFAA Compliance Engine Receives High Praise From Conference Attendees
By Brittany Hackett and Allie Bidwell, Communications Staff
Attendees at the 2016 National Conference on Sunday were among the first to see a demonstration of NASFAA’s new Compliance Engine, a tool that allows institutions to centralize all compliance and policies and procedures information online.
Available today to all NASFAA members, the Compliance Engine combines the highly-valued Self-Evaluation Guide, the Policies & Procedures Toolkit, and many easy-to-use new features, including a series of self-assessment checklists to complete or assign tasks across departments. Users can receive notifications when there are updates to compliance requirements and identify any potential problem areas. Built intuitively around financial aid administrators’ busy schedules, the Compliance Engine can reduce the time spent on compliance administration, increase collaboration, and help institutions avoid unnecessary findings during an audit or program review.
“An engine is a powerful machine that makes things go and moves things forward. And the Compliance Engine is exactly that,” said Mindy Kaplan Eline, vice president of NASFAA. “It is a powerful machine that moves you forward to better compliance.”
During a demonstration at the NASFAA conference on Sunday, conference attendees were able to see how the tool works and hear about its benefits from NASFAA staff.
“I think the Compliance Engine will help schools stay in compliance with the federal, state, and institutional regulations needed to provide students with financial aid properly,” said Keisha Rivers of California State University–San Bernardino, after seeing a demonstration at the NASFAA Booth on Sunday.
Justin Chase Brown of the University of Nebraska–Lincoln said after a demonstration that many of the features of the Compliance Engine can help alleviate some of the burden financial aid administrators feel.
“The Compliance Engine looks like a great way to be able to organize the ways you’re keeping compliant with all of the regulations – everything is all compiled in one place,” Brown said. “I love the way you can assign tasks to people, because one of the hard things about being a financial aid director is you’ve got all of these Title IV compliance areas and they’re not all necessarily directly related to financial aid. Being able to assign tasks to other folks is a great way to monitor what’s being done and give them the opportunity to put in their comments.”
If you’re at the National Conference, visit the NASFAA Booth in the Exhibit Hall for a demonstration and more information on the Compliance Engine. And be sure to check out our resource page for more information, our promotional video, and more in-depth video tours to see the Compliance Engine in action.
Publication Date: 7/11/2016
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