Strategic Financial Aid: Filling the Empty Seat

Volume 39

No. 13//

October 20, 2014

In a previous I&P article, ISM stated there are three types of need-based financial aid—“rainy day,” diversity/marketing goal, and filling empty seats. Funds for aid used for rainy day help and funding diversity can be budgeted for separately. These funds should be awarded using a formula that reflects the mission of your school and the spirit of the reason monies were put aside. Schools often use one budget that encompasses all three types of aid, making the mistake of not realizing that the aid that is used to fill empty seats cannot be budgeted.

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