Financial aid software handles the administrative processes involved in the issuing and management of financial aid. These solutions are typically used by higher education institutions to maintain compliance, reduce costs, and improve the entire process of financial aid distribution.
Administrative professionals in higher education institutions use financial aid software to automate financial aid document processing, communicate with students regarding their financial aid, distribute forms digitally, and analyze data associated with the entire process. Students can use a financial aid software portal to submit documents, track progress, and maintain an overview of their own financial aid status.
Financial aid software solutions often integrates with school resource management software and student information systems (SIS) to provide comprehensive student profiles.
To qualify for inclusion in the financial aid software category, a product must:
Process student financial aid forms
Automate portions of the financial aid process
Provide a dashboard for administrative professionals to manage all student financial aid