PowerFAIDS is a powerful, flexible, and easy-to-use Windows-based program, developed by experts at the College Board, that can help you manage your financial aid office. It is designed to automate the entire financial aid process, from performing need-analysis calculations to transmitting loan applications to automatically running reports. More than 500 postsecondary institutions use PowerFAIDS in their financial aid departments.
PowerFAIDS can be customized to fit the needs of your office. It can be integrated not only with other College Board software and services but with other commonly used systems, including the Central Processing System (CPS) used by the U.S. Department of Education's Office of Federal Student Aid. PowerFAIDS gives you multiple ways to create and adjust student records, and can import student data from other campus information systems. PowerFAIDS can check student records for any missing required documents (you define what documents are required in each case), update the application status online, generate customized missing-information letters, and much more. You can use PowerFAIDS to build student expense budgets based on parameters you define. PowerFAIDS lets you load, process, and adjust data in Institutional Student Information Records (ISIRs) from the CPS. You can also view National Student Loan Data System (NSLDS) data using PowerFAIDS. PowerFAIDS lets you package student aid awards according to your institutional financial aid policies. You can simulate outcomes and then adjust parameters as needed. PowerFAIDS will automate your Pell Grant calculating, reporting, and reconciliation, using whichever Pell Grant formula your institution uses. PowerFAIDS supports communication with the U.S. Department of Education's Common Origination and Disbursement (COD) system. PowerFAIDS can automatically schedule your awards for disbursement according to rules you set. It will even run federal eligibility checks before authorizing payments. ou can use PowerFAIDS to create applications in the CommonLine format for any lender or servicer. It also provides an interface with U.S. Department of Education software for the Direct Loan program.
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