The U.S. Department of Education’s formal definition of a third-party servicer is an individual, or a state, or a private, profit or non-profit organization that enters into a contract with an eligible institution to administer, through manual or automated processing, any aspect of the institution’s participation in any Title IV, HEA program.
FA Solutions provides third-party servicing and more. We are a service-driven financial aid resource organization with a mission of providing higher education institutions of all sizes with a comprehensive portfolio of financial aid processing, compliance, remote staffing, and leadership needs at a cost-effective price point. One of our offerings includes third-party servicing which involves assisting independent and private post-secondary schools that do not have their own robust financial aid department to process federal funding applications and order fund disbursements for their students.