How Can Colleges Better Manage Grants And Scholarships?

How Can Colleges Better Manage Grants And Scholarships?

-------------------------------------

Community investment in higher education has never been more important. Our ability to compete as a nation is dependent on the abilities of our most highly educated students. It is for that reason colleges and universities must be able to effectively manage their grant and scholarship portfolios.

The Challenge

Grants and scholarships are frequently designed to meet the needs of the organization offering them. As such, each comes with its own set of criteria. These can be as simple as a particular course of study or can be highly complex programs involving hundreds or thousands of students with a wide variety of academic, economic and regulatory requirements.

A Path to a Solution

For decades, the process of applying for grants has been developing into its own industry. Now there are businesses like IT Works to help academic institutions manage their grant and scholarship portfolios. They can also help to navigate the sometimes confusing and highly detailed requirements of each institutional investment.

Record Keeping and Accounting

Chief among any combination of strategies for managing grants and scholarships is excellent record-keeping. With modern technology, it should be possible for organizations of any size to have up-to-the-second information on their entire grant and scholarship program. A second related priority is proper accounting. Any large-scale financial program should have highly competent and trained accountants standing by to apply their specific knowledge to each challenge and scenario.

Research and Grant Writing

Since these institutional investments have become so varied and complex, it is also often a good idea to employ a dynamic and motivated research staff. These are people who will be crucial in communicating details to other members of the team and tailoring their information to meet the needs of other departments. The research staff will work closely with grant application writers and the team members who coordinate with the organizations and individuals interested in awarding grants to the college or university.

Public Relations and Management

The research team and grant writing team can combine their efforts to assist a public relations group with their efforts to promote the college or university’s program outside of the school. In today’s media-driven culture, effective public relations is not optional and can be a vital link between the school and future contributions. Finally, it is incumbent on the entire organization to employ solid, well-tested and experienced management. Generally speaking, it is always a good idea to put an inspiring individual at the head of a fast-moving team, as they will have something to offer each department to help them meet their goals.

Grants and scholarships are important to the growth of academics. Proper management and development of institutional investments are vital to the success of the school.

-------------------------------------------------------------------------------------------------------------

end of post idea

-------------------------------------------------------------------------------------------------------------

Helpful article? Leave us a quick comment below.
And please give this article a rating and/or share it within your social networks.

Categories: Commentary

Write a Comment

Your e-mail address will not be published.
Required fields are marked*

Time limit is exhausted. Please reload CAPTCHA.