Financial Aid

Are You Maximizing Your Financial Aid Dollars?

Many institutions assume that the more they spend on financial aid, the more improvements they’ll see in financial aid performance and enrollment results. At AACRAO Consulting, we’ll show you a better way to leverage financial aid. Our clients have achieved impressive results by improving the clarity, comprehensiveness and timeliness of the aid information they provide to students. Add a well-deployed strategy for better targeted aid, and you’ll see even more dramatic results.

AACRAO Consulting offers a full range of financial aid services, delivered by experts with demonstrated knowledge of leading practices in financial aid packaging and funding strategies, business practices, and legal compliance. Our consultants bring a strategic enrollment perspective to financial aid planning, ensuring that your financial aid services remain aligned with your institution’s overall enrollment goals.

As an added benefit, revitalizing your financial aid programs can be linked with our Financial Planning Services to achieve more accurate budget forecasts, develop “what if” aid scenarios, and increase net revenue.

AACRAO Consulting Offers Improved Approach to Holistic Admissions

AACRAO Consulting is pleased to announce FairSelect, a set of services to assist institutions in adopting the most equitable approaches to comprehensive, holistic admissions and other student selection processes. Delivered by leading researcher William Sedlacek and foremost practitioner Michele Sandlin, FairSelect represents a significant step forward from traditional student evaluation and selection practices. Using a unique written interview instrument, backed by 30 years of research and multiple case studies, institutions can augment knowledge gained from test scores and prior academic performance to better assess student potential and institutional fit, improve support services and student success rates, and increase retention.

The FairSelect approach has proven successful at a wide range of institutions: large and small, public and private, undergraduate, graduate and professional – including international institutions. The underlying concepts have been shown in research studies to provide for fairer student selections across a wide range of student diversity factors, including socioeconomic status, race, ethnicity, learning style, and national origin. It also has been used to improve scholarship selections, being the basis for selecting students in the Gates Millennium Scholarship Program. This approach has gained wide recognition as an important step forward in admission and scholarship selections: http://www.insidehighered.com/news/2007/03/02/holistic.

Our services include campus workshops with faculty and staff, planning assistance, staff training, business process refinement, and technology support. Contact us today to explore FairSelect options for your campus.


Improve Your Financial Aid Processes, Improve Your Enrollment

How much financial aid your students receive, when they collect their awards, and how well you’re communicating with financial aid students all have a significant impact on enrollment numbers. Our financial aid experts will work with your financial aid staff to thoroughly review financial aid award amounts and allocation, as well as student communications. Using our findings, we’ll make recommendations for reallocating funds, enhancing communications, and timing adjustment to improve your recruitment and retention rates.
 
AACRAO Consulting - Financial Aid

Best Practices In Financial Aid

Improve your business practices in your Financial Aid Office, and you’ll also see measurable improvements in your overall operational efficiency and enrollment outcomes. Our financial aid specialists are ready to help your financial aid staff adopt best practices to quickly, efficiently and accurately respond to students’ requests, provide timely answers, and deliver the right financial aid awards to the right students — at the right time.

Minimizing Your Financial Liability

Understanding and meeting compliance reduces your institution’s financial liabilities — strengthening your credibility as well as your bottom line. Our consultants will conduct an in-depth review of your financial aid management, office procedures, organizational structure, technology systems, process flows and reports, forms and publications to identify any compliance issues that may leave you liable. We’ll then issue recommendations for taking corrective action, enacting change, managing student concerns and improving student service.

Navigating Ever-Changing Regulations

Today’s institutions confront ever-changing rules governing the financial aid deals you make with lenders. Our consultants will help you navigate and comply with the latest regulations to avoid conflicts of interest and adhere to the highest ethical standards.

Fortify Your Financial Aid Staff

Engage your financial aid office staff in the success of your enrollment strategies, and your institution’s financial performance. We offer half-, one- and two-day workshops covering a range of staff development topics specific to financial aid processes. We’ll share our knowledge and best practices with your staff, so they can contribute to your success.