FREDERICK, MD – Regent Education, the leading provider of Software as a Service (SaaS) solutions that simplify the financial aid process for higher education institutions offering traditional and nontraditional enrollment models, today announced a significant addition to its portfolio. With the launch of Regent Fund, institutions now have an intelligent, automated, two-way-integrated scholarship management solution that not only ensures that they award every available dollar but also streamlines the scholarship management process.
Financial Aid leaders and Scholarship Managers today are tasked with the high-stakes and highly visible responsibility of optimizing scholarship dollars. They’re under pressure from donors and enrollment teams alike to accelerate ‘every dollar out’ to increase enrollment, ensure student success, and maintain donor relationships. They’re also challenged by complex eligibility and awarding rules, decentralized student data, manual processes, multiple stakeholders, and under-resourced staff.
For administrators looking to optimize scholarship management, Regent Fund fully automates and streamlines the scholarship management process from application to eligibility to awarding to reporting. Regent Fund accelerates optimal awarding and minimizes staff workload by leveraging extensive two-way data integration, automated workflows, and built-in logic. Specific benefits of this scholarship management solution include:
- Expand student access to all available scholarship funds – Regent Fund’s unified smart form is configured to streamline the application process across all your scholarship programs. Proactive communications ensure that students stay on track to complete the process.
- Intelligently harness diverse data sets to identify qualifying students based on complex eligibility criteria – Regent Fund integrates multiple, disparate data sets from student scholarship applications, ISIRs, your SIS, and other institutional data to give you a more complete picture of the applicant pool.
- Use powerful sorting and weighting capabilities to prioritize recipients for limited funds – Regent Fund’s highly configurable and intelligent matching, ranking, prioritization, and selection capabilities enable you to award scholarships in an automated, configurable, and intelligent way.
- Leverage automated, two-way integration to quickly reattribute unused scholarship dollars to additional eligible students – Regent Fund’s automated, two-way integration capabilities synchronize Regent fund data with award amount updates made in your FAM, SIS, AR, or other system – you can quickly reattribute unused, cancelled, or unaccepted scholarship dollars to new recipients.
- Increase visibility to donors and stakeholders into how scholarship funds are being spent and their impact – Regent Fund’s queries, dashboards, and reports increase your visibility into the full scholarship management lifecycle; help you understand where you are with your awarding; and enable you to share results and insights with donors and stakeholders.
“William Jessup University offers diverse sources of scholarship funding to help our students pay for college, each scholarship with its own unique criteria and processes. We are tremendously excited about the prospects of what Regent Fund means to our ability to maximize the distribution of available funds and minimize the workload of our financial aid office to do so,” said John Swan, Director of Student Financial Services at William Jessup University, who has participated in Regent Education’s “Early Adopter” product-feedback sessions.
“Regent Fund is the next natural progression of financial aid automation, and we’re excited to add this innovation to the Regent Education Suite of solutions. We’re especially excited to enable Financial Aid leaders and Scholarship Managers to manage the complex scholarship process and ensure that they award all available dollars to their learners more efficiently,” said Jim Hermens, CEO of Regent Education.