Financial Aid Packaging
Providing students with a competitive financial aid package is one of the most compelling reasons for a student to enroll in an institution. Given the choice of schools, studies indicate that schools with better awards have greater success in attracting the students and class they desire.
Does the scenario below characterize financial aid awards provided to students from your institution?
- Total cost of attendance $73,880
- Expected Family Contribution $22,200
- Financial need $51,680
Financial aid award
- Scholarship $48,980
- Federal Work-Study Program $2,700
- Total aid offered $51,680
If this balanced equation is common for your institution, that’s great news! HigherEd Metrics® analytics indicates that only a small percentage of students are awarded the aid needed to meet the student’s financial need. In addition to assisting with packaging financial aid awards, HigherEd Metrics® can also assist in identifying ways to help students with unmet need find additional funding, while the institution monitors the unmet need student’s status to help them stay in school.
Using tools like our Unmet Need Assessment and FAFSA Overview, HigherEd Metrics® tools can help make the award process simpler and help institutions build compelling financial aid packages for students while meeting the institution’s enrollment goals.