TMS hires external auditors to evaluate the suitability of design and operating effectiveness of its internal controls pursuant to the American Institute of Certified Public Accountants’ Statement on Standards for Attestation Examinations No. 16 (SSAE 16). SOC1, Type 2.
“SOC 1SM reports are examination engagements performed by a service auditor (CPA) in accordance with Statement on Standards for Attestation Engagements (SSAE) 16,Reporting on Controls at a Service Organization to report on controls at a service organization that are likely to be relevant to an audit of a user entity’s financial statements. Use of a SOC 1SM report is restricted to existing user entities (not potential customers).”1
Source:1 AICPA Service Organization Control Reports Terms, Conditions and Guidelines for Service Organizations
PCI DSS Compliance: TMS employs control measures that protect cardholder data; maintains a vulnerability management program; regularly monitors and tests networks, maintains an information security policy; and maintains a secure network, and is PCI DSS compliant. Additionally, in accordance with the guidelines set forth under PCI DSS, Tuition Management Systems employs the following:
- Implements strong access control measures
- Protects cardholder data
- Maintains a vulnerability management program
- Regularly monitors and tests networks
- Maintains an information security policy
- Builds and maintains a secure network
The Personal Financial Management Certification through TMS partnership with Inceptia provides money management training to equip our Education Payment Advisors with the essential knowledge necessary to empower them with the skills they need to provide affordability counseling and planning strategies to tens of thousands of students and families seeking help and guidance to meet their education financial obligations.
Inceptia’s Personal Financial Management Certification program was developed in collaboration with leading academicians from East Carolina University’s (ECU) Financial Wellness Initiative, in the College of Business, and leaders in financial education. Inceptia’s student-focused tools and resources are designed to help all students reach the ultimate goal of financial well-being and success.
About Inceptia - Inceptia is dedicated to providing much-needed support to help schools effectively fulfill their new roles and responsibilities. Through comprehensive data analysis, financial education, default prevention and financial aid management, we are confident we can help all students, not just borrowers, become financially responsible adults. We are here to make it possible for more schools to launch brilliant futures.
TMS incorporates the NASFAA Core Training into our contact center training curriculum to enhance understanding of the changes to the Student Aid Program and ensure that our Education Payment Advisors are using the same language that the families are being indoctrinated into during the Financial Aid process.
CORE is a comprehensive set of instructional materials for teaching financial aid fundamentals to individuals with less than two years experience. CORE’s 14 modules cover financial aid administration from A to Z. Thirteen of the CORE modules contain an instructor’s guide, a PowerPoint presentation, and accompanying trainee handouts. The Toolkit module (Module 14) contains resources covering cash management, recertification, and recordkeeping/reporting.