Financial Aid Technology Streamlines Process for Administrators and Students Alike

August 01, 2011

Every term, financial aid offices spend countless hours managing financial aid funds for bookstore purchases. From voucher distribution and manually entering account updates to checking and rectifying the inevitable data entry errors – the process is arduous and time consuming.

For students waiting on aid, getting their funds even a few days late can mean missing out on the limited supply of used books and – if their funds aren’t available until after classes begin – dropping classes rather than falling behind. Barnes & Noble College has a better way.

Student Financial Aid Solution

A few years ago, Barnes & Noble developed an integrated process that securely links a student’s financial aid data to the bookstore – allowing for a seamless transmission of data between the school and the store. Additionally, the process allows schools to determine what products are eligible for purchase against financial aid and the charge dates and requirements. The electronic account updates of all transactions are submitted to the school’s financial aid office according to their timelines and needs, and all forms of financial aid can be used. To date hundreds of schools have signed on for this innovative solution – with great results.

But schools aren’t the only beneficiaries of this process. Because data is securely transmitted between the school and the bookstore, students don’t need to waste time picking up vouchers from the financial aid office. They get their bookstore funds faster and therefore have earlier access to the bookstore’s limited supply of lower-cost used books meaning their financial aid goes further. Financial aid can also be used for textbook rentals or for our growing supply of eTextbooks.

Contact your Store Manager or Regional Manager for more information or to set up a meeting to discuss bringing Barnes & Noble SFA to your campus.