Customized solutions for financial aid.
This service provides a comprehensive assessment of the performance of an institution's financial aid strategy as it relates to supporting admissions strategies (new student enrollment), the retention of enrolled students,, its impact on net revenue and account receivables, and its influence and institutional pricing.
HES can assist an institution with developing a financial aid strategy design that is institutional specific and not boilerplate by design.
This is achieved through a statistical analysis of institutional data, a review of external market intelligence, consideration of recruitment and retention goals and academic and financial performance outcomes and indicators.
Based on data, institutional information, and market intelligence, a multiple year financial aid strategy that includes the use of admissions based merit scholarships and grants, and need-based are awards is developed.
The goal is the design of a strategy that will support the enrollment of new students, retention of enrolled students, and the attainment of desired net revenue.
This service provides a comprehensive evaluation of an institution's compliance with federal, state and institutional financial aid regulations.
The value of this service is that it provides an impartial third party review of how well an institution is meeting compliance requirements before an audit or federal program review results in findings.
This service is helpful for institutions experiencing staff turnover as it ensures that necessary policies and procedures are in place.
Many financial aid departments meet compliance requirements adequately but fall short in how they support an institution's overall enrollment goals.
A Financial Aid Operational Audit provides institutions with a review of how the financial aid function is operating by looking at policies and procedures, workflow design, human resources and the use of information technology. What makes our service unique is that it also includes a review of how the financial aid function integrates with other enrollment management functions including admissions, student accounts and the registrar.
The service also considers how the financial aid function supports the retention and re-recruitment of students. A Financial Aid Operational Audit helps institutions identify and develop strategies for improving customer service to students. In today's competitive student market, this is a vital component of success for both recruiting and retaining students. top Type your paragraph here.
The goal of an Institutional Pricing Study is to help an institution establish a pricing structure that results in a net price that is attractive to a broad audience of students and parents and produces the desired net revenue.
The Pricing Study evaluates the net price students are paying based on institutional characteristics and competing forces such as institutional capacity, fiscal health, student demand, wealth and quality of students, competing institution profile, existing and emerging markets,, demonstrated outcomes and expression of institutional value.
HES can provide ongoing financial aid advisory services related to compliance and/or strategy implementation.
Advisory services can include the monthly review of data and information to help guide and inform institutional decision making.