{"id":1073,"date":"2017-06-26T14:10:34","date_gmt":"2017-06-26T18:10:34","guid":{"rendered":"http:\/\/nacacadmitted.wpengine.com\/wordpress\/?p=1073"},"modified":"2017-06-26T14:22:03","modified_gmt":"2017-06-26T18:22:03","slug":"report-new-technologies-could-help-improve-financial-aid-process","status":"publish","type":"post","link":"https:\/\/admitted.nacacnet.org\/wordpress\/index.php\/2017\/06\/26\/report-new-technologies-could-help-improve-financial-aid-process\/","title":{"rendered":"Report: New Technologies Could Help Improve Financial Aid Process"},"content":{"rendered":"
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Financial concerns cause nearly 3 million students to drop out of college each year.<\/p>\n

Researchers at Tyton Partners believe a student-centered approach to financial aid could help reduce those numbers. In a recent report<\/a>, the Boston-based advising firm chronicled the challenges posed by the current system and examined potential solutions through a survey of more than 1,800 higher ed administrators.<\/p>\n

Their take? Targeted communication could help improve the process for both students and colleges.<\/p>\n

\u201cAccording to administrators, the biggest challenges preventing students from accessing aid are lack of student engagement, lack of awareness, and insufficient financial aid,\u201d the report notes. \u201cAll three of these issues are addressable through improved communication between the institution and the student.\u201d<\/p>\n

<\/p>\n

New communication methods, such as texting, could help break down some barriers. Specialized tech-driven solutions for creating financial aid packages are also needed, the report states.<\/p>\n

In their survey \u2014 funded by the Bill & Melinda Gates Foundation and conducted in collaboration with NACAC, AACRAO<\/a>, and NASFAA<\/a> \u00a0\u2014 researchers found many colleges struggle to efficiently package financial aid awards.<\/p>\n

\u201cA significant number of institutions lack automated scholarship processing systems \u2014 about 30 percent according to the Tyton Partners survey \u2014 and many institutions continue to put together student financial aid packages by hand,\u201d according to report. \u201cCreating packages by hand lends itself to human error, and using systems that lack the flexibility to adjust for individual student circumstances can leave some students without appropriate financial aid.\u201d<\/p>\n

Read the full report<\/a>.<\/p>\n

Admitted writer\/editor Mary Stegmeir welcomes additional comments and story ideas at\u00a0mstegmeir@nacacnet.org<\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Financial concerns cause nearly 3 million students to drop out of college each year. Researchers at Tyton Partners believe a student-centered approach to financial aid could help reduce those numbers. In a recent report, the Boston-based advising firm chronicled the challenges posed by the current system and examined potential solutions through a survey of more … Continue reading Report: New Technologies Could Help Improve Financial Aid Process<\/span> →<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[111,25],"tags":[339],"class_list":["post-1073","post","type-post","status-publish","format-standard","hentry","category-college-completion","category-financial-aid","tag-tyton-partners"],"featured_image_src":null,"featured_image_src_square":null,"author_info":{"display_name":"Mary Stegmeir","author_link":"https:\/\/admitted.nacacnet.org\/wordpress\/index.php\/author\/mstegmeir\/"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/peWmJq-hj","_links":{"self":[{"href":"https:\/\/admitted.nacacnet.org\/wordpress\/index.php\/wp-json\/wp\/v2\/posts\/1073","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/admitted.nacacnet.org\/wordpress\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/admitted.nacacnet.org\/wordpress\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/admitted.nacacnet.org\/wordpress\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/admitted.nacacnet.org\/wordpress\/index.php\/wp-json\/wp\/v2\/comments?post=1073"}],"version-history":[{"count":0,"href":"https:\/\/admitted.nacacnet.org\/wordpress\/index.php\/wp-json\/wp\/v2\/posts\/1073\/revisions"}],"wp:attachment":[{"href":"https:\/\/admitted.nacacnet.org\/wordpress\/index.php\/wp-json\/wp\/v2\/media?parent=1073"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/admitted.nacacnet.org\/wordpress\/index.php\/wp-json\/wp\/v2\/categories?post=1073"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/admitted.nacacnet.org\/wordpress\/index.php\/wp-json\/wp\/v2\/tags?post=1073"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}