For higher education institutions, processing financial aid is a complex undertaking. It’s why institutions turn to financial aid management (FAM) systems to manage all the administrative processes, maintain compliance, reduce costs, and improve the entire financial aid distribution process. All FAMs support the following three core financial aid processes: Enable institutions to receive and process […]
For decades, higher education institutions have used an ERP/SIS to manage all facets of their operations-including financial aid management (FAM). That one-size-fits-all model sufficed when introduced in the 1990s, but higher education has evolved-and so should the FAM. As James Wiley, Principal Analyst at Eduventures writes, “At first glance, one might think that financial aid […]
Financial aid is critical to meeting institution’s enrollment, retention and student success goals. Per Noel Levitz, being the first to demonstrate affordability to prospective students will give you a critical advantage in this competitive and cost-conscious market. But time and speed aren’t the only factors of success. Financial aid departments must also manage the changing demographics of their prospective and current student base and their increased, sophisticated digital and self-service expectations.