Introducing the new and improved TADS Award Management, with new capabilities to consolidate the management of all monetary awards and tuition incentives for student families and school staff. Tuition incentives like merit scholarships, grants and special-use funds help schools reach enrollment goals. TADS Award Management creates a comprehensive system for school business officers, allowing them to administer, evaluate, and communicate merit- and needs-based financial aid.
The uniform view of the financial aid and incentives provides private and independent schools with greater insight and control over tuition dollars. Early-adopting schools have already been testing the new technology tools. “This year we tried out the redesigned awards management functionality in TADS and it worked flawlessly,” shared Jerry Mullaney, CFO & Director of Operations at Head-Royce School. “I have used TADS at four different schools over the past decade and have always loved its flexible design and user-friendliness….”
Through TADS Award Management, financial aid budgets are updated in real time and allow a business officer to easily see how much has been allocated and how much is remaining in each award category. Schools can customize how the information is organized and reported. Staff members use new personalized communication tools to notify families of financial award amounts, with the award data being integrated into enrollment and tuition management systems. The capabilities can eliminate hours of manual entry, reduce the time required to notify families about their awards, and create greater visibility into a school’s long-term financial stability. Want to learn more? We gave a brief overview at the end of our thought leadership webinar on 2019 Tuition Trends and Discounting Strategies.