Leading Higher Education Institutions Enlist Technology to Increase Use of Scholarship Funds

AcademicWorks Increases Student Accessibility to Scholarships

AUSTIN, Texas–(BUSINESS WIRE)–The increasing cost of education and cuts to state funding are forcing
students to take on unsustainable amounts of debt to fund their degree.
With daily articles focused on apocalyptic levels of student debt it is
surprising that, according to Fortune, over $100 million in college
scholarships go un-awarded each year.

A scholarship is a financial aid award that does not have to be paid
back. Colleges and universities often have hundreds or even thousands of
individual scholarship funds that are awarded to students each year.
Scholarship awards can be based on need, merit or other requirements and
can range in amount from a few hundred dollars to “full-ride” awards
covering virtually all education expenses.

One of the reasons that scholarships go unutilized is that funds may be
awarded out of individual departments or programs, using a wide array of
application and selection processes. This confusing approach often
leaves students disenfranchised with the overall process. With lower
student participation rates, administrators often have a hard time
finding qualified students for scholarship awards with very specific
requirements.

Over 400 colleges and universities have turned to a technology solution
from AcademicWorks to simplify the scholarship application and matching
process for students, while helping institutions increase the percentage
of their available scholarship dollars that are awarded each year.

“Scholarships are a major part of the strategic discussions around
student recruitment and retention,” stated Brandon Phipps, AcademicWorks
CEO. “Using cutting-edge technology, we are working with campuses to
streamline the scholarship awarding process for students and
administrators.”

AcademicWorks is helping colleges and universities revolutionize their
scholarship application process to be a more positive and engaging
experience for students. Using AcademicWorks, all scholarships are
centralized in a searchable website for students to access 24 hours a
day.

Rather than requiring students to pick up and return scholarship
applications to different offices across campus, AcademicWorks allows
campuses to leverage their existing student record data to automatically
import key information about the student. This simplifies the
application process for students, while allowing administrators to
easily match students against all available scholarship opportunities.

With AcademicWorks, campuses often see a 70% to 200% increase in the
number of scholarship applications and a significant increase in
scholarship fund utilization.

“At Northwestern Michigan College, we saw more applications from
students and overall visibility into the scholarship process,” stated
Kate Malone, Financial Aid Specialist. “We have seen a 7% increase in
disbursed awards using AcademicWorks and our improved process has
provided more confidence in our scholarship process.”

About AcademicWorks

Based in Austin, Texas, AcademicWorks provides the only comprehensive
scholarship management solution focused on improving access to education
through innovative technology. More than 400 institutions and
foundations have revolutionized their scholarship management process
with AcademicWorks. For more information visit http://www.academicworks.com.

Contacts

AcademicWorks
Brooke Grimes, 888-376-4252 x726
Director of
Marketing
bgrimes@academicworks.com