App’s Private Aid Algorithm Promises Fast Cash
Emma Whitford, Inside Higher Ed
In theory, it sounds like a problem with a clear solution: Colleges and universities use money provided by the CARES Act to quickly fund emergency grant requests before students go hungry, fall behind on rent, or miss a utility payment. But in reality, the situation has exposed an administrative bottleneck at campuses across the country.
A start-up company called Edquity wants to remove those bottlenecks. Using a proprietary algorithm, it can decide for colleges which students get aid—fast. The company's app essentially takes over the entire emergency aid application, decision-making, and disbursement process.