FACTS Launches FACTS Compass ™: A Scholarship Management Platform for Federal Scholarship Tax Credits
The new platform helps scholarship-granting organizations support students from public and private schools.
Lincoln, Nebraska, October 15th / PRNewswire / -- Nelnet Today, FACTS ( NYSE : NNI ), a subsidiary of Nelnet, announced the launch of FACTS Compass ™. This is a scholarship management platform designed to help scholarship awarding organizations ( Scholarship Granting Organizations , referred to as SGO ) manage federal scholarship tax credits ( Federal Scholarship Tax Credit , referred to as FSTC ), and to create a more cohesive scholarship management experience.
FSTC provides a new opportunity for eligible taxpayers to support scholarship programs, helping families cover the qualified educational expenses of students attending public and private schools. FACTS Compass is aimed at assisting SGO in establishing the operational foundation necessary to participate in this program and serve the students and their families.
FACTS Compass General Manager of Product Management Jonell Sanchez stated: "We are working with SGO, which relies on it every day, to create FACTS Compass, and we will ensure that the delivery is in sync with the progress of the FSTC project. The first version will provide the necessary functions for institutions to start raising funds and for families to register. By 2027, all the complete functions will be available. We are excited about the possibilities that FACTS Compass will bring to SGO and the students, families, and schools they serve."
FACTS currently provides support for over 120 SGO and group projects, as well as 5 state education funding programs. It has accumulated experience in application processing, qualification assessment, and compliance management. FACTS indicates that this experience has laid a foundation for its ability to assist SGO in preparing for FSTC.
FACTS Compass said, "We have spent a decade helping schools with the compliance aspects of state scholarship programs, and this work continues. With the help of FSTC, we will bring this experience to the SGO who are preparing to manage new federal scholarship programs. In addition to technology, FACTS can also serve as an implementation partner and educational resource to help communities understand the program, meet compliance requirements, and establish an operational system that can serve students from day one."
FACTS Compass is supported by a network of partners and resources, which not only provide technical support but also encompass governance, donor engagement, and development strategies. As a business under Nelnet, FACTS also brings substantial financial and operational experience.
FACTS President Scott Spethman stated: "We provide educational technology and financial management tools to nearly 12,000 K-12 schools, and these tools are trusted by administrators, educators, and families. We understand the operational needs of FSTC as well as their constantly changing regulatory environment. We are developing FACTS Compass to reduce the administrative burden on SGO, allowing them to focus on distributing scholarship funds to students in need."
The educational business of Nelnet can be traced back to 1978. Today, over 5,700 employees serve more than 5,700 schools under K-12, over 1,200 colleges and universities, as well as millions of families, students, and borrowers through consumer loans, loan services, payment, and technical services.
For more information, please visit factscompass.com.
About FACTS
FACTS is a subsidiary of Nelnet, providing critical educational technology solutions to schools around the world to enhance operational efficiency, financial management, enrollment, tuition fee management, and family engagement. FACTS serves nearly 12,000 institutions and over 4 million learners, offering a comprehensive range of educational technology and fintech products aimed at simplifying school operations and connecting schools with families through experiences built on trust, insight, and influence. FACTS also represents project managers across the country who are responsible for managing state education funding projects.
Forward-looking Statements
This announcement contains “forward-looking” statements in the meaning of U.S. securities law, which include but are not limited to: the development, features, characteristics, and release timing of FACTS Compass; the anticipated provision of core functions by the end of 2026 and the addition of more functions in 2027; the implementation of federal scholarship tax credits ( FSTC ) and related regulatory requirements; the expected participation of scholarship awarding organizations ( SGO ) and various states; as well as the expected benefits of the platform for SGO, schools, and families. Forward-looking statements can be identified by phrases such as “ may”, “ will”, “ would”, “ should”, “ could”, “ expect”, “ anticipate”, “ believe”, “ estimate”, “ intend”, “ continue”, “ strategy”, “ future”, “ opportunity”, “ plan”, “ planned”, “ project”, “ forecast”, “ designed”, “ being”, “ built”, “ expected”, and similar expressions. Forward-looking statements involve risks and uncertainties that may lead to significant differences between actual results and those stated. These risks include changes or interpretations of federal or state laws, regulations, and guidelines, including FSTC and Treasury Department rules; decisions by various states and SGO regarding whether and how to participate; delays or difficulties in product development, testing, or release; technical, security, and third-party service risks; competition; as well as other risks described in the documents submitted to the U.S. Securities and Exchange Commission (SEC). Therefore, readers should not rely excessively on forward-looking statements and information. Except as required by law, the company assumes no obligation to update any forward-looking statements.
