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Is It Time to Update your Scholarship Management Process?

Is It Time to Update your Scholarship Management Process?

It’s November…it’s National Scholarships Month!

November is National Scholarship Month, sponsored by National Scholarship Providers’ Association (NSPA)! National Scholarships Month is a great time for scholarship providers, institutions, students, parents, and sponsors to come together and celebrate the common goal of monetarily supporting students tackle the financial challenges associated with pursuing higher education.

 

Value of encouraging students to apply to Scholarships

Scholarships, big or small, means less money having to be borrowed in student loans, less time spent by the student working another job to support his or her studies, and instead more of that time and resources devoted to their academics. On top of that, there are also larger scholarship funds available as well, some of them all-expenses-paid, full-rides to the most prestigious institutions across the globe.

 

Why an organization should opt for a Scholarship Management Software

In a recent study conducted by an online financial advisory magazine, it was projected that almost $2.6 billion in “free money for college” went unclaimed by the Class of 2018. So what could organizations be doing better to ensure that their scholarship funds don’t go unnoticed by applicants?

By investing in a Scholarship Management Software, organizations can manage what is commonly a disorganized multi-step, multi-round review process smoothly. With a simpler and more efficient scholarship application process, organizations become capable of attracting more and more qualified candidates to their scholarships, which benefit both the organization and the applicant in the long run.

 

How a Scholarship Management Software ensures Applicant Success

Picking the right tools is key for any applicant or organization looking to enhance their scholarship application process. These are just some of the compatibilities and features you should be looking for:

1) A Quick and Easy Application Process
A Scholarship Management Software worth the investment is one that actively encourages applicants to finish their applications, which means that the platform must be streamlined and easy-to-use.

2) Hassle-free Review
No more messy file-formatting issues to solve and e-mail chains to comb through. Reviewers are all caught up on who is where on the reviewing process and they can always save and return later. Multiple rounds of review? No problem.

3) Lighten Administrative Load
Scholarship Management Softwares take the workload off your administrators and instead put it on the system. Pick a software solution that saves you both time and money by freeing up time spent on menial administrative tasks.
Having the right SaaS partner can revolutionize your Scholarship Management experience. Click here to find out more about OpenWater and our growthstack, and how what we do makes us trusted by the top organizations in the industry.
Already with OpenWater’s Scholarship Management Software? Have you checked if your organization is OpenWater certified? Hurry! Check out our calendar to find out about upcoming webinars and certification programs.

 

Annika is a Content Marketing Associate at OpenWater. When she's not writing, you can find her driving boats on the Potomac River and drinking coffee in front of her roommate's window AC unit.

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