Financial Aid at-a-glance
As of 2023-2024 academic year, the Office of Student Financial Assistance is implementing the Financial Aid Portal (Student Financial Planning) which provides:
- Faster processing time
- Three simple steps to understanding your financial aid picture including what type, how much, when will it be disbursed
- Electronic document submissions
Click on the left side menu link to learn more about how to navigate the Financial Aid Portal
Oracle Student Financial Planning (SFP) offers a complete end-to-end business process. A Financial aid driven solution from ISIRs to verification, packaging, SAP, disbursements, loans, compliance, and reporting.
1. Begins with the FAFSA
SFP provides delivered functionality beginning with the import of the Institution Student Information Report (ISIR) automatically processing and requesting all necessary documents for ‘C’ Code.
2. Verification
Through delivered automation, SFP processes all ISIR types, notifies and requests information from the student. This automation speeds up financial aid communications for many institutions up by 43%. Students receive personalized communications from the institution pointing them online to submit documents real-time.
3. Student eligibility
SFP delivers out-of-the-box automation checking student eligibility for all types of financial aid (based on your fund rules). For example: admitted into a degree seeking program, FA eligible class, SAP, min./max. amounts, PT/FT enrollment, verification, etc.
4. Packaging
Rules, rules, rules. A critical process within financial aid is the packaging of institution aid (including federal, state, institutional), need-based, non-need based, term based, non-term based aid, leveraging different formulas and rules. It provides the student with the status of their aid.
5. Awarding
Once the funds are packaged, it is ready for notifications and alerts to the student/parent/borrower for their acceptance/rejection of their packaged funds. Students, parents, any borrower has immediate access on any device.
6. Satisfactory academic progress
Students have a responsibility to maintain their financial aid through maintaining satisfactory academic progress, including GPA, units/credits progression, or any institution/program rules.
7. Disbursements
Where is my money? When will I be disbursed? What type of money will I be receiving when disbursed? The ability for the institution to help answer one of the most important questions facing families today: how can I pay for school/college?
8. Regulatory compliance and analytics
Access to data is critical for the institution to be proactive in making the right financial aid decisions. Having real-time data at your fingertips supports following regulations, compliance, and audits.