The University of Texas at Austin has selected Oracle Student Financial Planning (SFP) to make it easier for students to apply for and receive financial aid.
Part of Oracle Student Cloud, the solution helps applicants navigate the process with step-by-step guidance and provides a personalized view of funding options to best inform borrowing decisions. It also gives administrators real-time eligibility insights to guide students and improve application completion rates.
“As an institution founded to advance the public good, UT Austin is deeply committed to making higher education accessible to all students who are academically qualified, regardless of their financial means to support social mobility,” said Brian Dixon, vice provost of enrollment management, UT Austin. “Working alongside Oracle, we are committed to delivering an exceptional financial aid experience to our students and prospects throughout their academic journey.”
Established in 1883, UT Austin is one of the nation’s top universities. The campus is home to approximately 50,000 students – 32,000 of whom are financial aid recipients. Currently, UT Austin uses a homegrown financial aid system to process and disburse student aid. In light of federally-mandated changes to financial aid processes and upcoming institutional initiatives, the university sought a new solution to streamline the aid experience for students and administrators. After a competitive review, UT Austin opted for Oracle Student Financial Planning due to its proven market success.
By automating approximately 90% of financial aid processes from beginning to end, Student Financial Planning will help UT Austin smooth and improve the entire financial aid process. This includes determining eligibility, packaging, and awarding aid, through to disbursements and reporting. Not only will this support students to more easily get the right financial aid for their needs, but will free administrators from manual tasks so they can rededicate time to more individualized student support.
“Financial aid is integral to attracting and retaining students, and equipping them with the resources necessary to realize their personal, professional, and academic goals,” said Vivian Wong, group vice president, higher education development, Oracle. “UT Austin is dedicated to its core purpose—to transform lives for the benefit of society—and Oracle Student Financial Planning will be a key asset in contributing to that purpose.”
