In over 31 years, we have seen many trends in higher education that were shaped by financial aid. Each year, students go through the application process. Unfortunately, hundreds of those students never go any further. Financial aid offices typically send a request for information but do not actively recruit these students. Data we have monitored for several years shows a direct correlation between early action and high interest level. Students who respond quickly to a financial aid information request, even from a college where they haven’t applied or been admitted, are expressing excitement about the institution.
Also, some colleges have measures financial aid applicants must take beyond the federal requirements. Recent research suggests the result is fewer students enrolling and a heightened possibility of non-compliance with the federal regulations. For colleges that award a significant amount of institutional aid, additional information may be necessary. If a college primarily offers federal grants, loans and student employment, using standard federal requirements has multiple benefits. This simplifies the process for the students and helps to eliminate access barriers. It also reduces the possible liabilities associated with extraneous and conflicting information. FAS works closely with our clients to help administer financial aid in a manner that is compliant and student-friendly. Contact us about assessing. your overall process or to discuss offloading some of the most time consuming parts of your operation.