Tips for a Successful 2026 Financial Aid Season: Best Practices for School Administrators

Katie Burckhalter

As the 2026–2027 financial aid season approaches, follow these tips to prepare for success with Blackbaud Financial Aid Management™. 

1. Add the 2026–2027 School Year 

Begin by adding the 2026–2027 school year and defining when families can apply for aid. When you create the new year, the following information rolls over from the previous year: 

• General school, school aid, and custom calculation settings 
• Custom application questions 
• Tuition and standard discounts 
• Deadlines 
• Family, Student, and Internal codes 
• Budgets 

How to do it: 

1. Navigate to Settings, Manage School Years. 
2. Select Add. 
3. Choose 2026–2027 under Session, then enter your Open Date and Close Date. 
4. Select Save. 

2. Settings Review: Update for the New Year 

Review the following items under the Settings menu to make any necessary changes for the new year.  

Tip: Ensure the 2026-2027 school year is selected at the top of the page so any updates apply to the new year. 

• Users: In Manage Users, remove users who should no longer have access and confirm that all current users have the appropriate access roles. 
• Tuition & Standard Discounts: Review the base tuition for each grade and adjust amounts as needed. Confirm eligibility for aid and discounts and update standard discount percentages if necessary. 
• Codes: Review and update Family, Student, and Internal codes to reflect your current applicant pool and reporting needs. You can also use codes when defining eligibility criteria in Budgets. 

3. Custom Calculation Settings: Tailoring Aid to Your School Community 

In Settings, Custom Calculation Settings, you can adjust financial aid formulas based on local expenses and school policies. 

• Housing Expenses: Set maximum allowable housing expenses for homeowners and renters, especially if your area has high costs. 
• Subsistence Allowance: Define the annual amount for basic living expenses such as food and clothing. 
• Other School Tuition & HCE Distribution: Decide how to allocate a family’s Household Contribution to Education (HCE) funds among students attending your school and other institutions. 
• Assets: Specify the percentage of net weighted assets to include in aid calculations and determine whether to include retirement assets when calculating Gross Assets. 

4. Budgets: Managing Scholarship Funds 

Budgets are essential for tracking financial aid resources: 

• Create a budget for each scholarship fund or account. 
• Track the amount available, students awarded, and amounts distributed. 
• Only award families with applications in “Verified” status as they have completed their applications and submitted all documentation. 
• Review budget settings after rollover to ensure accuracy for the new year. 
• If your school uses Blackbaud Tuition Management™ or Blackbaud Enrollment Management System™, you can send award information directly to those systems for seamless integration.  

5. Award Letters: Communicating with Families 

Prepare award letter templates: 

• Customize templates to reflect your school’s messaging and any policy changes from the previous year. 
• Ensure timely communication with families once awards are determined. 
• Confirm that any dates and points of contact included in your templates are accurate for the 2026-2027 session. 

 By following these steps and regularly reviewing your system settings, you’ll be well-prepared for the upcoming financial aid season. Proactive management ensures families have a positive experience and your school’s resources are allocated efficiently.  

We’d love to hear from you! Feel free to share your ideas and tips in the comments!