Please enjoy this guest post from my friend and colleague Brooke Grimes from Academic Works.
This year we have seen some big-name superheroes battling it
out at the theaters. Think Batman vs.
Superman and Captain America: Civil War. Battles between characters who should
be allies make for great drama. Which side are you on? Who’s the Bad Guy?
Unfortunately, we often have a similar conflict between the
superheroes in our industry: Scholarships vs. Stewardship. But there is no villain here! We should all be joining forces to achieve a
common goal, which is increasing accessibility to education by making resources
available to students.
There is a huge opportunity for scholarship and stewardship
personnel at colleges and universities across the country to be the superhero that
helps achieve this goal. No matter your
current role in either department, there are ways to bring the right people
together to both streamline the scholarship process and improve donor
stewardship efforts.
So what can you do to become the ultimate scholarship and
stewardship superhero? There are three
easy steps to take:
1.
Create an advisory council
2. Make information easily
accessible
3. Get award information to
donors faster
Create an Advisory Council
An advisory
council consists of all of the people involved in your current scholarship
process. This most likely includes Financial Aid, Donor Relations, Enrollment,
and maybe even representatives from campus departments. Take time to map out the current scholarship
and donor stewardship process as they work today. This will give everyone a big picture idea of
who has ownership of which parts of the process. Most importantly, it will give everyone a
place to begin suggesting improvements. Having an advisory council takes the
pressure off of one person to make a change. It brings together groups of
people who can have a huge impact on campus.
Make Information Easily Accessible
Often,
the people involved in scholarships and stewardship work separately. However, information such as scholarship
award rationale, award recipient details, and thank-you notes should be shared.
For example, Financial Aid often needs scholarship recipient information to
verify award compliance while the Foundation or Advancement office needs this same
information to share with donors. This information can be stored in email
inboxes and on spreadsheets on individual computers. Opening access to information all across
campus can streamline the entire process and improve institutional relationships.
Get Award Information to Donors Faster
Foundations
are often in a race to proactively share scholarship recipient information,
thank-you letters, and fund financials with donors in a timely manner. One
Foundation Vice President I spoke with mentioned that she is in a constant
battle to alert donors of scholarship recipients before the student posts it on
social media.
Donors
also want to see the impact that they are making on the lives of students at
your institutions. We see a trend in sharing
more information with scholarship donors.
Based on a recent
study we conducted at AcademicWorks, here is what colleges and universities
are providing to donors about their scholarship recipients:
·
73% are providing thank-you letters from
students
·
67% are providing biographical information on
scholarship recipients
·
34%
are providing a photograph of the scholarship recipient
Going
back Point #2, the most easily available scholarship information is, the faster
you can it get to donors.
I wish
you all the best of luck as you look to improve the scholarship and donor
stewardship process on your campus. Now
it is time to put on your cape and become the scholarship and stewardship
superhero on campus! If you are interested in staying up-to-date on the latest
tips in scholarship management and donor stewardship, check out www.blog.academicworks.com.
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