Financial aid calculations change every year—and typically the time you have between receiving those updates and awarding financial aid packages is limited. There’s a better way. Working jointly with the U.S. Department of Education, SunGard Higher Education provides U.S. Federal Need Analysis Methodology (FM) calculations directly through a subscription-based solution that eliminates the need to manage annual software updates.
FM Need Analysis helps institutions provide more accurate financial aid packages to students by calculating the expected family contribution (EFC) a student might be expected to contribute toward college costs. A SaaS-based delivery model helps you deliver FM updates earlier, by as much as six weeks. You can prepare award letters sooner, and give prospective students the time they need to make a sound decision about the future of their education.
With FM Need Analysis, your institution can:
- Access federal regulatory updates faster
- Provide aid packages to prospective and current students sooner
- Process federal need calculations more efficiently