The Benefit of Using BeneFAQ
When you choose BeneFAQ, you choose a partner who cares about your school and your parents. Feel confident about the accuracy of need, consistency of process, and legal compliance.
While every applicant may not qualify for aid, the concise BeneFAQ process provides affordable, up-to-date, and on-time assessment of family financial conditions, assuring schools the accuracy of need of every applicant, taking the guesswork out of granting tuition aid, and helping keep schools in compliance with IRS requirements. Our comprehensive FACT Reports will give you valuable insight into the overall financial health of an applicant family, allowing you to better serve them.
Here to Take the Journey With You
Know What A Family Can Truly Afford
Our online application process calculates, analyzes, and verifies a family’s financial situation by reviewing their income and comparing it to their basic, necessary living expenses. Our final analysis provides the school an easy-to-read report including a monthly dollar amount that the family should be able to reasonably pay toward their tuition. This enables and empowers the school to make informed and unbiased financial aid decisions.
We Honor the Value of the Relationships You Have with Your Families
Discussing someone's finances can be a sticky situation. As an unbiased third-party, we help you avoid getting into the nitty-gritty of family financial questions. We ask each applicant to reveal the necessary information to obtain an accurate understanding of their financial situation.
Parents Feel Safe Using Our System
Parents feel safe providing their personal and financial information to BeneFAQ. Their data is secure and confidential (their information is never shared elsewhere), providing a rich user experience for your school and your families.
How Our Program Works
- Your school signs up online. Your login credentials will be generated immediately giving you access to your school administrative portal where you will oversee the process of each tuition aid applicant. Schools may also call us at 303.339.0050 and we will help get you signed up. The $40 fee is payable at the time of sign-up and renewable annually before you can accept applications for a new year.
- Our online manual and simple video overview will have you up and running with ease in no time. Our customer service team is always here to help you free of charge. We will provide you all the information you need to share with your parents so they are aware of the program and what they need to do to apply.
- Parents can access their portal login on the BeneFAQ website. Many schools will place a link on their website for their parents to access BeneFAQ. Parents create an account in our system, pay the appropriate fee, and begin filling out our application.
- You make the tuition aid award determination! Our final analysis provides your school an easy-to-read report including the monthly dollar amount that the family should be able to reasonably pay toward their tuition. We call this the FACT Report (Family Anticipated Contribution Total). If family circumstances change throughout the year, you can ask us to correct figures and generate a new report.