FACTS launches scholarship administration platform for federal tax credit
FACTS, a Nelnet company, has introduced FACTS Compass, a new platform designed to help Scholarship Granting Organizations (SGOs) administer the Federal Scholarship Tax Credit (FSTC).
Lincoln, Nebraska – FACTS, a Nelnet company (NYSE: NNI), has launched FACTS Compass, a new platform aimed at assisting Scholarship Granting Organizations (SGOs) in administering the Federal Scholarship Tax Credit (FSTC).
The FSTC program allows eligible taxpayers to support scholarships that help students with educational expenses at public and private schools. FACTS Compass is intended to provide SGOs with the operational framework needed to participate in the program and serve students and families.
"We are building FACTS Compass alongside the SGOs that will rely on it daily," stated Jonell Sanchez, managing director of product for FACTS Compass. The initial release equips organizations to begin fundraising and enrolling families, with further enhancements planned for 2027.
FACTS currently supports over 120 SGOs and five state education funding programs, offering expertise in application processing, eligibility determination, and compliance administration. This experience informs FACTS' approach to supporting SGOs in their preparation for the FSTC.