PROBLEM WITH FINANCIALS
We are a small welding school that offer financial assistance thru TFC. The problem that we keep coming into is potentail students do not have funding to attend our school. We are not accredited as of yet so this makes it a little more difficult for students. Do you have any suggestions?
Katina-this is a common problem for not only small schools but large schools as well. Even with Title IV funding students are still responsible to fund the 'gap' portion of their tuition. This is the portion that financial aid does not cover. The best advice I can offer outside of private investment loans is to make your program as affordable as possible with incremental payment plans. Good luck with your accreditation plans.
Hello Cindy,
I also agree with you regarding making sure the school program is affordable as possible and designed to help the students suceed after completing the program... Try to have more than one payment plan that is structured around the completion of the course. Good luck Katina with everything...
Hello, if I may comment on such a problem. We offer very simple, short careers which are very affordable, but students are unable to meet financial obligation. What we have found is to seek private financial funding for students all they need is a checking account. We are not Title IV approved so we rely heavily on this type of funding. Payment plans are good, but do not provide a constant cashflow at times.
