Family LOG IN  Administrator LOG INSign Up for a WebinarContact Us

Attracting School-Sustaining Partners Through Grant Management

Attracting School-Sustaining Partners Through Grant Management

June 25, 2013
|

In the world of financial aid, “need” is not a bad thing. How you react to that need, however, can be. If your reaction to high levels of need is to reduce the need calculation by cost of living adjustment, then you are effectively alienating the very families that you are most likely trying to attract.

Imagine that your financial aid applicants are sorted by their need calculation from least to most. At the top of the list you find applicants with zero need. As you travel down the list, you begin to encounter your first need calculations. These first need applicants have high contributions but require a little help to make it work. These are great partners for your school, as they can contribute substantially. As you near the end of the list, you encounter applicants that appear to have little ability to pay for private education.

If you act on formula measures intended to reduce need, the first group of people to drop out are the great partners described above. On the other hand, the neediest of families are never impacted by formula adjustments and will always have high need.

It would appear then that formula-centric methods for reducing need are favoring low-income families. What to do? TADS has the solution: Leave your reasonable need calculation in place and turn to our grant management program. Grant management will calculate an award amount by child based on one’s need, in comparison to the group, as illustrated below:

School Fund $30,450

Qualifying Need

Each Applicant % of Qualifying Need

Applicant Award based on percent of need

Applicant A

$13,000

22.81%

$6,945

Applicant B

$8,000

14.04%

$4,274

Applicant C

$17,000

29.82%

$9,082

Applicant D

$19,000

33.33%

$10,150

 Total:

$57,000

100.00%

$30,450

With our grant management strategy, you can award those strong partners while keeping the financial aid budget intact.

Contact us for more information or to set up a grant management solution for your school.