Using early alerts to help students navigate financial aid
Decrease financial aid barriers to student success by improving insight into risk factors
- Significant year-over year increases in student financial readiness
- Better workflows and interventions
- Increased staff availability to deliver proactive, guidance to facilitate students’ movement through the financial-aid packaging process
Georgia State University applies the power of analytics to identify and assist students in need
Too often, financial pressures force students to withdraw from their courses or drop out of college altogether. To refine its process of identifying at-risk students, Georgia State University’s Student Financial Services team set out to create a system that would provide early alerts and extra insight to help staff offer the right interventions.
By applying analytics to the vast amount of data in the university’s student information system (SIS), the team developed a new platform to increase students’ ability to pay for their studies. This early alert system, known as the Packaging Status Promotion (PSP), grew out of Georgia State’s pre-existing work with data and technology to drive improvements in student outcomes.
The predictive and prescriptive analytics of the PSP have revolutionised the way Georgia State delivers student financial services and significantly improved student engagement and behaviors. In a year-over-year comparison since the launch of the PSP:
- Teams have served twice as many students without increasing staffing levels.
- Students who sought SFMS assistance were 20.6 percent more likely to complete all financial-aid requirements and bring their balances down to zero.
- An additional 7,700 students achieved financial readiness.
- Georgia State has seen a 5.6 percent improvement in overall year-over-year student financial readiness and a 2 percent reduction in summer melt.
The predictive and prescriptive analytics of the PSP have revolutionised the way Georgia State delivers student financial services and significantly improved student engagement and behaviors.