Colleges Modernize Financial Aid Offices with Oracle

Rhea-AI Summary

Oracle Student Financial Planning (SFP) is being adopted by colleges across the U.S. to streamline financial aid processes, enabling students to access accurate funding information. Institutions like Eastern Gateway Community College, Navarro College, and William Carey University are utilizing SFP to simplify operations, improve efficiency, and enhance student experiences. The automation of aid processes supports informed financial choices, addressing affordability challenges highlighted by the pandemic. Oracle's solutions facilitate better resource allocation in educational institutions, ultimately empowering students in their academic pursuits.

Positive

• Increased adoption of Oracle Student Financial Planning to streamline financial aid processes.
• Automation of financial aid processes enhances efficiency for university staff.
• Empowers students to make informed financial aid choices.

Negative

• None.

AUSTIN, Texas, June 23, 2021 /PRNewswire/ -- Colleges and universities across the U.S. are adopting Oracle Student Financial Planning (SFP) to make it easier for students to apply for essential financial aid. Part of Oracle Student Cloud, the solution gives students a personalized view of their funding options so they can make better decisions to support their education goals.

Eastern Gateway Community College, Navarro College, and William Carey University all chose Oracle Student Financial Planning to simplify their financial aid processes for their students and staff. Using Oracle Student Financial Planning, students can access timely, accurate, personalized financial aid information that helps them make more informed financial aid choices. The solution automates the financial aid process from beginning to end – from eligibility, packaging, and awarding, through disbursements and reporting. This leads to better experiences for students, as well as improved efficiency for university staff who can now spend less time on processes and more time on helping students.

"As the impacts of the pandemic linger, too many students perceive obtaining a post-secondary degree as financially out of reach," said Vivian Wong, group vice president, higher education development, Oracle. "Colleges and universities using Oracle Student Financial Planning can improve affordability and access with a simplified financial aid process that promotes responsible borrowing, and in turn, empowers students to realize their personal, professional, and academic goals."

Eastern Gateway Community College 
As Ohio's Eastern Gateway Community College expanded beyond its Steubenville and Youngstown campuses to expansive online course offerings, its student population grew from 13,000 students in 2018 to more than 40,000 students today. This growth drove the college to cloud-based solutions as it scaled its operations. The college's successful implementation of Oracle Fusion Cloud Applications in 2019 opened the door to adding Oracle Student Financial Planning to its technology portfolio. With the automation, compliance, integration capabilities, and security of Oracle Student Financial Planning, Eastern Gateway leaders anticipate time-and cost-savings that staff can rededicate to more strategic, one-on-one student help.

"Providing high-quality services for more than 40,000 students in all 50 states made modernization of our services and infrastructure a necessity," said Eastern Gateway President Michael Geoghegan. "Oracle Student Financial Planning automates the process from beginning to end, freeing up financial aid staff to work directly with students and ensures our college can invest more of our resources in teaching and learning necessary to build America's 21st century workforce."

Navarro College
Navarro College, a public community college based in Corsicana, Texas, aims to set students on a clear path to academic and financial success during their time on campus. But the school's 20-year-old Ellucian Colleague financial aid system relied heavily on manual processes, which was inefficient for staff and delayed the flow of information to students. Navarro College selected Oracle Student Financial Planning to replace the aging system. The solution's streamlined and transparent processes will benefit Navarro College's students and staff alike, boosting the student experience and reducing manual processes for staff.

"We evaluated a number of solutions – including Ellucian, Jenzabar, and Workday – before making our selection," said Barry Sullivan, director of information technology, Navarro College. "Ultimately, Oracle Student Financial Planning earned our vote as we realized it could support our needs not just today, but for years to come."

William Carey University 
Located in Hattiesburg, Mississippi, William Carey University delivers highly personalized experiences to meet each student where they are. However, the processing of student aid through the financial aid module of its existing Unit4 system was entirely manual, hampering students' experience and failing to meet the university's modern standards. The university selected Oracle Student Financial Planning to create a student-centric financial aid experience. The university also chose Oracle Fusion Cloud Advertising and Customer Experience to support its recruiting efforts; and Oracle Analytics Cloud to complement its other Oracle implementations with enhanced reporting and analytics. These solutions will work together to support the university's strategic enrollment management plan.

"The pandemic accelerated the need to move away from traditional, manual processes, and subsequently, accelerated our move to Cloud," said Jeff Andrews, chief information officer, William Carey University. "Oracle's solutions will help us provide the seamless experience that William Carey wants to extend, allowing staff to rededicate time to student success and empowering students in their educational pursuits."

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SOURCE Oracle

FAQ

What is Oracle Student Financial Planning (SFP)?

Oracle Student Financial Planning (SFP) is a solution designed to streamline the financial aid process for students, providing personalized information on funding options.

Which colleges are adopting Oracle Student Financial Planning?

Colleges such as Eastern Gateway Community College, Navarro College, and William Carey University are adopting Oracle Student Financial Planning.

How does Oracle SFP benefit students and staff?

Oracle SFP automates financial aid processes, improving efficiency for staff and providing students with timely and accurate funding information.

What impact does Oracle SFP have on financial aid processes?

Oracle SFP simplifies the financial aid process, allowing staff to focus on student engagement and support rather than manual tasks.

When was the press release about Oracle SFP issued?

The press release about Oracle Student Financial Planning was issued on June 23, 2021.