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Financial Aid Formula Review

Financial Aid Formula Review

January 21, 2014

To ensure your school is using the full power of TADS Financial Aid, we recommend that schools and organizations conduct periodic formula review sessions with our team. These review sessions should be completed when we have most of your aid applications in the system, as working with actual school data ensures that we come to a meaningful, personalized formula that has the most relevance to your population. Conversely, setting up a formula through census numbers or using a canned-formula puts your school at risk of allocating valuable aid to an entirely incorrect group of families.

What factors are taken into account when crafting a financial aid allocation formula?
At a high-level, we will talk with you about the type of families you want to attract through the financial aid process. This conversation covers everything from how housing is viewed to strategic asset, expense and income values. We can also walk through how your aid allocation program compares to others in your area, region, and all across the United States.

The objective of using a financial aid third party processor is to give reasonable results for your particular population. When you make the effort to match the financial aid calculation formula with your economic environment, you can be assured that you have done your best to match the needs of the family with their actual ability to pay.

When you are ready for the discussion, whether you are a current client or not, please email or call 612-548-3338 and speak with Ron directly.