Austin, TX (PRWEB) July 10, 2014
AcademicWorks is excited to announce the release of the Renewal Management Module, the only commercially available solution allowing colleges, universities, and foundations to easily manage renewable scholarship awards.
In order to verify student compliance with renewal award requirements, scholarship administrators manually review hundreds or even thousands of renewable scholarship commitments each term. The renewal requirements for each scholarship award can differ resulting in a very time consuming and laborious process for administrators.
The Renewal Management Module allows organizations to easily track renewable award commitments by student, fund or award period, request renewal documentation from students, automatically monitor student compliance with renewal requirements, and encumber, cancel or defer renewable award payments.
“The Renewal Management Module eliminates the spreadsheets, paper processing, and guesswork associated with managing scholarship renewals, allowing administrators more time to focus on assisting students," says Brandon Phipps, CEO of AcademicWorks.
The Renewal Management Module is designed to work in conjunction with AcademicWorks Scholarship Management Module to create one comprehensive solution for all scholarship application, review, awarding and stewardship activities.
“Having both the renewal and new award information together in one place will reduce processing time and the likelihood of mistakes, especially in determining a student’s eligibility for renewal or overextending available funds," says Jason Bornhop, Associate Director of Student Financial Aid at the University of Missouri-St. Louis (UMSL).
For more information on the Renewal Management Module or AcademicWorks please visit http://www.academicworks.com or email us at info(at)academicworks(dot)com.
AcademicWorks is the leading provider of scholarship management solutions for institutions of Higher Education and Foundations. Nearly 300 colleges, universities and foundations use AcademicWorks to improve the compliance, utilization and stewardship of their scholarship funds, while enhancing services to students, donors and the community.