ERIC Number: ED453768
Record Type: Non-Journal
Publication Date: 2000
Reference Count: N/A
Performance Plan: Progress Report 4th Quarter Fiscal Year 2000. Student Financial Assistance.
Office of Student Financial Assistance (ED), Washington, DC.
This is the final report on the fiscal year of Student Financial Assistance (SFA). It reports on progress toward three objectives: (1) customer satisfaction; (2) reducing the overall cost of delivering student aid; and (3) employee satisfaction. Of the planned projects, SFA completed all but three. One was postponed, one was dropped as not cost effective, and the other, the goal of a clean financial audit, was not accomplished. Based strictly on the number of projects completed, SFA had a 95% success rate. There were some huge accomplishments, namely the reduction of the default rate down to 6.9% and the increase of collections to $4.5 billion, an all-time high. These accomplishments were accompanied by improvements in financial management and a blemish-free loan consolidation season. SFA also created new products, including an improved form for applying for financial aid. SFA has a customer satisfaction rating of 72.9 in the American Customer Satisfaction Index. SFA also estimates that it saved $28 million in the fiscal year. Several initiatives have targeted employee satisfaction. (SLD)
Descriptors: Educational Finance, Higher Education, Paying for College, Planning, Public Agencies, Student Financial Aid
Office of the Ombudsman, U.S. Department of Education, Student Financial Assistance, Room 3012, ROB #3, 7th and D Streets, S.W., Washington, DC 20202-5144. Tel: 877-557-2575 (Toll Free).
Publication Type: Reports - Descriptive
Education Level: N/A
Authoring Institution: Office of Student Financial Assistance (ED), Washington, DC.