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To add to the frustration, students and financial aid professionals use technology to streamline many other areas of their lives. Technology makes it effortless to check the status of an online retail order—yet financial aid processes remain manual, bogged down in paper. Forty percent of low-income students accepted into college never enroll due to financial challenges. Student debt is staggering, and two-thirds of high-debt borrowers are confused by their student loans.
CampusLogic:Technology That Helps Schools Change Lives
To solve this problem, CampusLogic developed the only end-to-end student financial success platform that includes a net price calculator, complete scholarship management, personalized digital communications, simplified financial aid verification, 24x7 multilingual virtualadvising, tuition and scholarship crowdfunding, and integrated data visualizations.
CampusLogic’s comprehensive technology platform supports what Scoresby calls the “ABCs of student finance,” which are access, borrowing, and completion. “Improving accessibility to information key to financial aid decisions means students make informed borrowing decisions, they enroll with confidence, and fewer drop out with debt but no degree,” he explains.
VirtualAdvisor Puts the AI in Financial Aid
VirtualAdvisor—the latest addition to CampusLogic’s platform—uses AI to orchestrate activities and automate workflows across the financial aid lifecycle.
“VirtualAdvisor is the heart of our platform,” says Scoresby. “Multilingual, VirtualAdvisor can be accessed from any device 24/7, offering quick resolutions and consistent responses to student questions.” Today’s student expects custom, personalized advising, 24/7/365 flexibility, quick resolutions, and consistent responses— VirtualAdvisor delivers. Video engagement, scheduling, and human-based advising are currently in the works for VirtualAdvisor.
AI That Connects the Student Journey
VirtualAdvisor seamlessly integrates with other CampusLogic products to deliver an exceptional student experience. StudentForms streamlines the verification process resulting in improved cycle times and less manual work for financial aid office staff. AwardLetter facilitates automated emails and texts to help students and parents better understand the student finance journey. ClearCost delivers accurate net price estimates, while Scholarship Universe continually matches students with available scholarship opportunities. Sponsored Scholar enables individual student fundraising campaigns for tuition and other educational expenses. CampusMetrics helps colleges and universities turn data into insights that can help enhance the student experience.
Driving Student Financial Success Nationwide
Featuring an agile onboarding process, CampusLogic engages hundreds of schools across the country and interacts with millions of students. The company’s recent engagement with Western Governors University exemplifies their value proposition. With CampusLogic on board, the institution’s financial aid office experienced a 35 percent reduction in inbound call volume and a 5 percent increase in completion of financial aid processes. “Colleges and universities will never fully deliver student success until they prioritize student financial success,” says Scoresby. “CampusLogic is uniquely positioned with the automation, artificial intelligence, and analytics to enable the digital transformation of the entire student financial success journey, from initial school evaluation through graduation.”