Fully Automated Packaging

Greater compliance. Less effort. Increased student satisfaction.

An ongoing challenge for every school that administers financial aid is how to maintain compliance with ever-expanding and increasingly complex Title IV regulations. Complicating matters is the diversity of student situations and evolving academic program structures, making it tough for financial aid officers to keep up. In addition, increasing regulatory and compliance requirements cause resource shortages in many financial aid offices.

Vocado Financial Plan is a sophisticated packaging and disbursement capability that automatically generates a unique financial plan per student. The unique plan projects financial aid award(s) for all academic years in the program, while also factoring in each student’s financial aid history, including overlapping loans and annual/aggregate limits, allowing for superior planning capabilities.

As academic progress is made and a student’s new award years become available, Vocado Financial Plan is updated in real-time and shows each student what funds to expect and exactly when to expect them — even alerting if funds will fall short of covering costs or living expenses, or if a student is over-borrowing.

For the first time in the financial aid industry, a student’s academics are married with financial aid for the student’s entire program. Both students and administrators have complete visibility into when money is being disbursed and why. Students can plan their finances, and schools can forecast cash flow.

Before a student makes an academic change, such as dropping or repeating a course, failing a course, or going on a leave of absence, he/she can check to see the impact such a decision will have on how much aid is disbursed and when, which may encourage them not to make that change. Having this visibility into the future used to be extremely difficult, and students would become frustrated when they didn’t get the financial aid disbursements they expected, when they expected them.

The old way made predictable cash flow a challenge for schools. Since Vocado keeps this information up to date in real time, schools can now forecast with precision and provide students with real-time visibility into changes in their financial aid.

Key School Optimizers

Accurate Aid Estimates – Highly accurate package estimates can be created in seconds, with logic that’s consistent with the Department of Education and your institutional methodology. Since manual calculations are no longer needed to derive fund amounts for single or multiple years, you’re able to instantly project financial aid award implications of potential changes to a student's academic schedule.

Fully Automated Packaging – In one step, Vocado’s packaging algorithm generates a holistic financial aid package that includes federal, state, private and institutional fund sources. Vocado automatically accounts for annual/aggregate limits, enrollment status, proration, crossovers, overlapping funds, program changes and re-entries.

Streamlined Disbursement Management – Disbursements are automatically scheduled/rescheduled based on underlying academic events and institutional policy. Credit balance calculations are built in and triggered instantly to ensure students receive funds as soon as they become available. Users are immediately alerted of anything that could prevent a future disbursement, so that issues can be resolved before money gets held up.

Regulation Compliance Rules and regulations are already embedded into Vocado, so your organization will always remain compliant. Vocado helps you automatically stay on top of all federal regulatory changes for Term, Non-Term, and Non-Standard Term credit-hour programs.

Regulation Compliance

Vocado In Action

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In one step, Vocado generates a holistic financial aid package that includes federal, state, private and institutional fund sources.

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