Company Profile: TADS
Wednesday, October 21, 2015
Posted by: Christina Mimms
By Christina Mimms, SAIS
A family applying for financial aid may naturally feel a bit uncomfortable about sharing personal data with school staff members. Is the person waving to them at morning drop-off aware of how much they paid in taxes last year or what their mortgage note costs? That type of discomfort can often lead a family to exit from independent school rather than go through the financial disclosure process.
That is where a company like TADS can step in and streamline a school’s processes while maintaining confidentiality for families. The company’s financial aid assessment tool is the most popular of its offerings, but TADS also provides integrated admissions & enrollment, billing & tuition, and the Cornerstone school management system for attendance, grading, and classroom management. Many schools use the full suite of products, and parents can always enter the majority of the information into the system themselves, saving the school a great deal of time and effort in data entry. Also, parents always know their status with the school.
Gone are the days of paper applications and hand-written tuition checks with complicated trips to the bank. “From inquiry to transcript to transaction, it’s a seamless process,” said TADS CEO Martin Peyer. “Parents don’t have to enter the information four times and the school doesn’t have to enter or collect it four times.”
The schools receive pertinent data and detailed analytical reports to determine how and where to allocate their financial aid, but they are not privy to every last detail of a family’s situation, thereby maintaining a family’s privacy. As client Loyola Catholic School (Mankato, MN) stated, “Families may be more likely to apply for aid if they feel their information remains confidential and the awards are fair. We want to help those families rather than risk losing them to financial reasons.”
In turn, a fair comparison of financial aid candidates helps schools to fulfill their missions and use their budgeted funds as they were intended. Additionally, TADS can provide general data about what other schools are offering in financial aid so that school clients know where they stand with their awarded gifts.
The integrated organization of admissions, finance, aid, billing (including TILA disclosures), and tuition payments allows any size school to function in a more efficient manner at an affordable cost. Peyer noted that one admissions officer, in his first year of using the TADS system, told him that it was the first time he had taken a spring break since he had been doing financial aid work.
Learn more about TADS, which was one of two gold level sponsors at the 2015 SAIS Annual Conference, at www.tads.com.