Regent Award Provides Critical Financial Aid Management Support for Competency Based Learning and Direct Assessment Schools
FREDERICK, MD — Educational institutions considering Competency Based Learning (CBL) and Direct Assessment models are grappling with the challenges of effectively managing Title IV financial aid. Today, Regent Education is proud to announce that Regent Award, their flagship financial aid management solution, is the first—and only—system designed specifically to accommodate those challenges as well as improve compliance and operational efficiency. Regent is under contract with some of the leading CBL and Direct Assessment institutions and is assisting several institutions as they review options for financial aid processing.
“As more of the necessary elements for implementation are coming into place, there is increased momentum in the adoption of Competency Based Learning and Direct Assessment models,” said Mike Offerman, a Higher Education Consultant and president emeritus of Capella University. “These innovative models offer great promise for improved service, performance and outcomes.”
The escalating cost of a college education is a central topic of conversation in the media, in political circles, and often around the dinner table. Concerns regarding the cost of higher education are at the core of the Competency Based Learning movement. In light of President Obama’s recent speeches regarding proposed changes to the financial aid funding model and his praising of Competency Based Learning, many institutions are considering incorporating Competency Based Learning models into their academic structure. However, the limitations of financial aid management systems have hindered progress at many institutions as they struggle with the inability to effectively manage Title IV financial aid.
“We are very mindful of both the benefits and challenges of Competency Based Learning, and are pleased that we are able to resolve issues pertaining to financial aid for our customers,” said Randy Jones, CEO of Regent Education. “It is important that institutions are able to offer these models to manage college costs, drive service and to remain competitive. We are excited to deliver solutions that enable schools to pursue these models and position themselves for the changing landscape in higher education.”
Regent Award is the only system designed specifically to accommodate these models, enabling schools to effectively implement non-term and self-paced models of enrollment. Not only is Regent Education helping schools to ensure they are able to maintain compliance, they are helping them take efficiency to a whole new level with end-to-end automation. Schools using Regent Education’s Regent Award financial aid management system have already positioned themselves for taking advantage of the benefits of Competency Based Learning, as well as for potential funding model changes.
Regent Education is currently hosting webinars to help schools understand the benefits, challenges and considerations when moving to non-term and Competency Based Models. To learn more about Regent Award, please visit: http://www.regenteducation.com