Colleges and Universities Tap Oracle Cloud to Help Relieve Student Debt

REDWOOD SHORES, Calif., Oct. 27, 2020 /PRNewswire/ -- EDUCAUSE – Colleges and universities across the U.S. are adopting Oracle Student Financial Planning to ease the financial aid process for students. Part of Oracle Student Cloud, the solution enables universities to give students better control of their educational pursuits by helping them make more informed financial decisions for borrowing.

American University of Antigua College of Medicine, Florida Agricultural and Mechanical University, and Lorain County Community College all adopted Oracle Student Financial Planning to help students navigate one of the most worrisome aspects of higher education – getting financial aid. With the solution, these institutions can provide students the financial information and tools needed to achieve their academic goals, whether they are attending classes remotely or on-campus.

"The financial aid process is often the proverbial front door for higher education and a positive experience has a critical impact on accessibility and affordability for students," said Vivian Wong, group vice president, higher education development, Oracle. "It is a top priority at Oracle to help students achieve their academic ambitions. Working alongside higher education institutions, Oracle Student Financial Planning is transforming the financial aid experience, helping students make informed decisions for their future."

American University of Antigua College of Medicine
American University of Antigua College of Medicine (AUA), located on the island of Antigua in the Caribbean, is an innovative medical school founded with a mission to serve underrepresented students, and make a high-quality medical education affordable and accessible to those who may otherwise believe it is outside of their reach. Over the years, AUA has helped more than 3,000 aspiring students to work towards a Doctor of Medicine degree and become physicians. 

By bringing their financial aid processing in-house, AUA knew it would be able to streamline and manage its engagement with prospective and enrolled students. The university had a very tight window to launch a new solution before the start of the Fall 2020 semester. 

After a competitive review, AUA selected Oracle Student Financial Planning due to its unmatched automation capabilities and ability to boost efficiency and savings for both the university and its students. With Oracle and Highstreet, a premier Oracle implementation partner, and AUA's leadership, the solution was up-and-running in just four short weeks.

Oracle Student Financial Planning gives AUA the capability to easily process applications, package student aid, originate and disburse loans and all other required financial aid requirements. While students enjoy the intuitive, guided and timely financial aid process, AUA's staff can refocus their energy on helping its diverse community of learners.

Florida A&M University 
Founded in 1887, Florida A&M University (FAMU) is one of the nation's leading historically Black universities. It is home to nearly 10,000 students, each with unique backgrounds, experiences and needs – especially when it comes to finances.

The FAMU staff works tirelessly to help students access financial aid, but its existing, manual solution slowed the process. To modernize the experience for students and staff, FAMU plans to go-live with Oracle Student Financial Planning in the coming months and is also upgrading to the latest version of PeopleSoft Campus Solutions 9.2. Once the solution is live, students will easily access timely, individualized and intuitive financial aid options and tailor their academic plans accordingly.

"When students have a complete picture of their academic and financial plans, they can see – and follow – a clear path to graduation," said William E. Hudson Jr., Ph.D., vice president of Student Affairs, FAMU. "Oracle Student Financial Planning helps us make financial information accessible and intuitive, which ultimately helps our students achieve their academic ambitions."

Lorain County Community College
Lorain County Community College (LCCC), in Elyria, Ohio, is always anticipating – and adapting to – the needs of its nearly 13,000 students. The college was recently awarded the Leah Meyer Austin Award, a national prize reserved for Achieving the Dream network colleges that show greatest, sustained improvements in student success.

One key pillar of that success is that the college can help student's alleviate financial pressures. To improve its financial aid process, LCCC plans to go-live with Oracle Student Financial Planning later this academic year. The solution will be integrated with PeopleSoft Campus Solutions 9.0, equipping the college with the deepest and broadest set of capabilities to support the student lifecycle, from recruitment, to financial aid, to graduation.

With LCCC's strong technology foundation, implemented by Oracle Applications Consulting – Oracle Fusion Cloud Customer Experience (CX), Oracle Fusion Cloud Enterprise Resource Planning (ERP), Oracle Fusion Cloud Enterprise Performance Management (EPM) and Oracle Fusion Cloud Human Capital Management (HCM) – paired with the benefits of Oracle Student Financial Planning, LCCC can focus more of its time on fostering the success of its student body.

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