How Schools Can Solve Three Financial Aid Challenges

Written by Scott Tolliver, FACTS Content Marketing Manager, [email protected]

Does your current solution for managing financial aid meet your schools’ needs?

When you’re stuck using manual processes or inefficient software, you end up lamenting about the same problems day after day. Remarks like “this takes way too long” or “I worry we’re not connecting with the right students” might sound familiar.

For many schools, ensuring that every student who is a good fit has access to financial aid is essential. But managing financial aid assessments can be time-consuming. Here’s how comprehensive financial aid assessment software can turn three common frustrations into triumphs.

From: “Reaching the right students is challenging.”
To: “Getting financial aid to the right students is easy.”

By offering financial aid, schools can remove barriers to success, giving talented, high-achieving students access to quality education. But determining financial need can be arduous.

Robust financial aid assessment software can streamline this process for school staff and give you a clear idea of families’ finances, making it easier than ever to admit students who are the best fit, regardless of their financial circumstances.

From: “We waste too much time on inefficient processes.”
To: “Our financial aid procedures are streamlined.”

An inefficient approach to financial aid assessment creates frustration for school administrators and families. The right tool will save time for staff and create a transparent and fair system. Plus, when families have a user-friendly solution, fewer questions and concerns will be directed to your school.

You need a solution that offers: 1) secure collection of necessary data, such as tax, financial and personally identifiable information; 2) technology that can suggest award amounts; and 3) automated award notifications and follow-up communication with families to collect missing documentation.

From: “Can we protect our families’ data?”
To: “We trust that our data is secure.”

Schools collect a lot of sensitive data during the financial aid process. Ensuring that data is protected is essential, but it can also be a frustrating and time-consuming process when you don’t have the right tools.

A well-designed financial aid assessment system makes protecting data easier, keeping school and family information safe and mitigating the risk of legal issues.

Ineffective financial aid assessment practices will cause your administrators and families to repeatedly experience the same frustrations. But with a thoughtful approach and comprehensive software, your struggles will become successes. At FACTS, we’re committed to providing tools that help schools and students excel. Learn how FACTS Grant & Aid Assessment can support your school.