Selecting a New Financial Aid Management Solution

With college affordability top-of-mind for prospective students, having the right financial aid management (FAM) solution is critical to your institution’s long-term success. With the right capabilities - and the right partner - you’ll future-proof your institution, remain competitive, and exceed enrollment goals. 

But we know the decision to replace your financial aid management (FAM) solution is a big one, requiring cross-departmental collaboration to ensure the new solution meets your needs today and that it will scale to provide the capabilities you and your colleagues need for years to come. 

So to make the evaluation process a little bit easier, we’ve created a checklist that provides:

• Critical questions you need to ask vendors during the evaluation process
• The cross-functional team you should involve - and which criteria they should focus on
• A consistent way to rate capabilities and consolidate feedback from each member of your evaluation team