Bank of America
At-A-Glance

Type:      Fortune 100 publicly
                 traded company
FA Funds: $1.5B
FFELP:    Fifth largest
                 provider in the U.S.

"Mark is one of the most respected in the field…without a doubt he is one of the sharpest minds in this realm of higher education. I constantly recommend CHESS's services, knowing that it is important to my clients to get it right the first time…and to have it done accurately."

–Michael O'Grady, Vice President, Bank of America

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Case Study: Financial Aid Industry Participant

Bank of America

Challenges

Seeking a Federal Family Education Loan Program (FFELP) lender that meets stringent operational requirements, reduces costs and risk, and can provide a long-term commitment, is a significant decision for a college or university.

Solutions

When Michael O'Grady, Vice President of Bank of America, needs insight into technical and regulatory interpretation and analysis of financial aid, he turns to CHESS. When competing with other FFELP lenders for a school's business, we reviewed the technical and operational details and made suggestions, which helped Mr. O'Grady target the proposal — and win the contract. And on an ongoing basis, the team at CHESS performs a variety of research, clarifying issues that O'Grady's clients may have when interpreting new and existing regulations.

Prior to that, when Mr. O'Grady worked for Signet Bank, we worked with him to build a turnkey Web site for financial aid offices, enabling schools to be up-and-running within just a few hours, and offering a quick link back to the bank. CHESS also provided heuristic usability analysis of bank Web sites, offering suggestions to make the content more accessible to both financial aid professionals and students.

Results

From research and review, to interpretation and analysis, the professionals at CHESS provide Mr. O'Grady with the right information, at the right time — enabling him to win contracts and enable clients.