Your Solution to Financial Aid Management
PowerFAIDS® is a comprehensive, customizable software solution that automates your financial aid process. It allows institutions to efficiently and equitably administer financial aid, eliminating hours of paperwork and allowing for more student interaction.
PowerFAIDS gives financial aid professionals the information and tools they need for smarter, faster service while making sure they are in compliance with the latest federal requirements. The easy-to-use software allows professionals to manage the full range of institutional aid programs.
You can rely on PowerFAIDS to:
Help in the transition to early FAFSA submissions and the use of prior-prior year (PPY) tax information.
You will be able to process Institutional Student Information Records (ISIR) in October, leverage built-in comparison functionality to reconcile conflicting information, and use current student data to simulate the impact of PPY on your budgets. Plus, you will receive ongoing support and toolkits to help you with professional judgement and appeals.
Create and update student records
There are multiple ways to maintain student records and import data from other campus information systems.
Track applications, generate letters, and communicate electronically
You can check records and generate email and letters to students and parents directly from the system, which tracks those events in a communication log.
Calculate student budgets automatically
It’s easy to create expense budgets globally and make adjustments to individual budgets.
Generate and receive federal data
You can load, process, and adjust data in Institutional Student Information Records and view National Student Loan Data System data.
Perform need analysis
PowerFAIDS draws from the Institutional Need Analysis System (INAS) to perform calculations using Federal Methodology and the College Board’s Institutional Methodology.
PowerFAIDS lets you create and track an unlimited number of financial aid funds.
Package student aid awards, individually or in batches
You can simulate outcomes and adjust parameters as needed.
Process federal funds
PowerFAIDS automates Pell and TEACH Grant calculations, reporting, reconciliation, and communication, and works with the U.S. Department of Education’s Common Origination and Disbursement (COD) system. PowerFAIDS makes your Return to Title IV calculation and processing easy with built-in worksheets.
You can configure your disbursement process in PowerFAIDS based on your enrollment situations and in response to changes in your aid policies: create rules by fund type, choose when to bypass rules when one-off situations occur, and run simulations on anticipated disbursements to better analyze cash flow projections. You can also schedule awards for automatic disbursement authorization and run federal eligibility checks before authorizing payments.
Process Student Loans
PowerFAIDS lets you create and transmit both Federal Direct and alternative loan applications via XML and CommonLine.
Create custom reports
You can use one of PowerFAIDS’s premade report formats or easily create your own without IT intervention. You’ll also get support for major industry reports such as the Fiscal Operations Report (FISAP) and Application to Participate, and the Common Data Set survey.
PowerFAIDS can be customized to fit the needs of any institution, no matter how large or small. Comprehensive training and expert support is available as well as a unique user community. Enter the PowerFAIDS Resource Center using your email address and password. Don’t have an account? Learn how to sign up for one here.
Email us to find out what you need to know about PowerFAIDS.