Turning Financial Aid Challenges Into Strategic Opportunities
Financial aid revenue is the lifeblood of a school. At the same time, finances are the top reason given by students for dropping out. And no wonder, given the current regulatory maze.
The good news? Vocado offers an answer—with a built-in advantage.
A Strategic Solution
Financial aid has traditionally been viewed as a problem to be solved or a challenge to overcome. Vocado helps you turn the financial aid process into a strategic capability for your institution.
We realize financial aid is one concern among many. Other priorities for educational institutions include:
• Attracting the right students
• Maintaining or increasing enrollment
• Increasing student satisfaction
• Ensuring quality student outcomes
• (e.g. more graduations, fewer drop-outs, less borrowing)
With the right financial aid solution, you can achieve all of these goals.
Using artificial intelligence, our solution speeds up the aid process and simplifies student financial management by automating hundreds of rules and qualifications—with each student in real time.
With this capability, you can improve a wide range of performance metrics and outcomes that tie directly to financial aid.
Vocado helps you:
- Reduce processing costs and speed up workflows for more timely, accurate student aid with more advisory capability
- Ensure regulatory compliance via expert system-rule automation
- Promote responsible borrowing yielding higher graduation rates
- Produce system-generated corrective suggestions and proactive interventions for improved outcomes
Comprehensive Fund Management
Vocado allows institutions to define an infinitely flexible set of funds (state grants, private loans, institutional grants/loans, scholarships, etc.) leveraging data from all ecosystem software.
Fund Management Benefits
- Leverage all available public and private funding sources
- Enable real-time synchronization & micro-reconciliation with government systems to eliminate discrepancies
- Match funding sources and criteria (public + private) to student financing requirements—all in real time
- Reduce both effort and complexity of annual audits
It turns out that faster financial aid resolution leads to happier students and improved outcomes all around.