The first turn-key, mobile-first solution of its kind, MyFi-ALLY allows college students to request funds securely from their mobile devices. Once submitted, they can track the status of their application as it moves through the approval process.
WASHINGTON, DC, June 19, 2020 /24-7PressRelease/ — Instructional Media + Magic (im+m) announced the release of MyFi-ALLY, a self-service mobile application designed to speed processing of Federal CARES Act (HEERF) grant requests, keep careful track of documentation and approvals, reduce wait times, and allow for quick disbursement of funds to students. Student requests can be dealt with quickly and fairly, reducing processing times, while maintaining documentation for compliance.
The first turn-key, mobile-first solution of its kind, MyFi-ALLY allows students to request funds securely from their mobile phones and other devices. Once submitted, they can track the status of their application as it moves through the approval process. If needed, they are nudged to provide supplementary details and documentation. MyFi-ALLY is designed to seamlessly intersect with existing processes for financial disbursement, and may be configured to become school’s General Emergency grants request application in the future.
The CARES Act is an unprecedented opportunity to assist students. However, administering the CARES Act funds requires new processes and considerations, including adhering to ED guidance. As it is cloud-based and highly secure, MyFi-ALLY provides a simple, safe, and easily-reported solution.
Paul Heald, CEO of im+m said: “As a shared tool, MyFi-ALLY manages the flow of information and funds for student applicants and financial aid staff. MyFi-ALLY provides solutions from the beginning to end of the entire application process.” All requests, documentation, and approvals are tracked through the app. After determinations are reached and funds have been released, that information is readily available for the Department of Education’s required reporting.
“The application can be customized, including institutional branding, communication, grant categories and much of the on-screen guidance,” said Justin Tilton, President Emeritus. “It also uses a simple, yet flexible, workflow to allow schools to decide which department or departments are responsible for the approval and issuance of funding.”
Researcher Jim Farmer commented that a software tool like this is necessary for a complex, changing financial aid process, and provide students with beginnings of a budgeting platform for the financial wellness community.
im+m brings together information technologists and subject-matter experts to develop exceptional higher education IT projects. After recently developing Verification Gateway for Inceptia, a division of National Student Loan Program (NSLP), the im+m team began to focus on financial wellness, developing apps for financial aid, budgeting, and most recently CARES Act grant requests and administration. Prior to these projects im+m developed Kuali Student Accounts (KSA).
As a part of every project im+m develops, a unique team is assembled consisting of im+m specialists, contributors from colleges and universities, and partners from other companies. Our project development follows the successful “open research and development” model combining talent and sharing resources in a transparent open-information environment. The success of im+m’s projects, such as FSA Modernization, The uPortal Project, and The Meteor Network stem from these practices. Contact Chuck Carlin for more information ([email protected] or [email protected]), or please see our website and overview video at https://www2.immagic.com/myfi-ally/#intro.
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