Think about how technology has advanced during the span of your career in education. From chalkboards to virtual classrooms, school looks a lot different these days—and that means technology needs are changing too.
Schools need to keep up with growing enrollment numbers without sacrificing their commitment to students and families. At the same time, families are looking for efficient processes and flexible options that fit their lifestyle—especially when it comes to finances.
A digital tuition management solution can meet all these needs and more. Read on to see how taking tuition management digital can support your school’s needs now and in the future.
Why Digital Tuition Management?
Many schools rely on manual processes that have been in place for decades or a hybrid of digital solutions and manual processes. Either option can be hard to scale as your school grows.
A digital solution simplifies everything by centralizing the entire tuition experience; communication, payments, and data are all in the same system. As you welcome more students over the years, your system can adapt to the higher volume of family documents, payments, and revenue.
Other outcomes include:
- Happy families who enjoy custom tuition agreement options and secure digital payment options.
- Streamlined workflows and communication that can be automated to ensure all components of the tuition management process are on track and on time.
- Robust reports that pull tuition management data and give you an accurate financial picture to make well-informed decisions.
Sound too good to be true? It’s not! Let’s dive into how a digital tuition management system positively impacts school staff and families.
Students and families are at the heart of every decision you make. The good news is that many are looking for digital options from the school they belong to, or the schools they are considering.
Digital solutions provide added flexibility to meet families where they are at—not all families fit into a traditional payment system. Existing families will love a variety of ways to pay and customized payment plans; potential families may be more inclined to choose your school knowing that they have financial options.
Here are the key benefits your families will gain by going digital:
- Custom payment agreements with on-demand contract agreement revisions and a variety of digital payment options, including all major credit cards.
- The option to choose their preferred communication method. Some may prefer text messages, while others opt for emails to keep on file in one easy-to-find folder.
- Centralized communication for all their tuition management needs, including updates from your school and automated payment reminders.
What would you be able to accomplish if your staff could dedicate more time to your school mission?
By digitizing your tuition management processes, daily tasks become easier and more efficient. Staff no longer spend countless hours on invoices, processing manual forms of payment, and following up on late payments. You can eliminate paperwork and the tedious manual work (and errors) that often come with it—freeing up time to focus on other priorities.
A digital tuition management system can also help you boost admissions and enrollment numbers. Gain a competitive edge by offering options that provide convenience and ease for busy families. Flexible tuition agreements attract families who may have thought your school was out of reach financially. You can use the comprehensive reports to identify if you’re able to waive additional fees
Bonus tip: You can combine your digital tuition management solution with additional school functions—like admissions or financial aid—to form a completely integrated school management solution that saves time and resources across the entire student lifecycle.
Take the First Step
Thinking about making the switch to digital? TADS Tuition Management offers a wide range of features to support the unique needs of private schools. With a 99% customer retention rate, the evidence is clear: schools are finding success in digital solutions. Connect with an expert to see if TADS is the right fit for you.