2023 Field Guide: Financial Aid

Why Read This Research

The need for modern technology solutions to support higher education financial aid has never been greater. Standalone financial aid solutions have gained significant market share in 2023. This field guide identifies the market conditions impacting institutional financial aid product selections and provides insight into the leading solution providers—The College Board, Ellucian, Jenzabar, Oracle, and Workday. Investigate product selection trends based on institution size and sector. Learn what to consider as you plan and invest in modernizing financial aid technology and processes to improve the student experience.

Key Questions Answered

• What trends are influencing how institutions select financial aid technology solutions?
• What are the financial aid product selection patterns based on institution size and sector?
• How do institutions’ student system selections correlate with their selected financial aid solutions?
• What are the leading higher education financial aid solutions and what are their distinguishing features?

Features

• Vendor in Focus: The College Board, Ellucian, Jenzabar, Oracle, Workday
• Software Category in Focus: Financial Aid
• Authors: Paul O’Brien, Senior Analyst, and Sue Spies, Senior Advisor, Tambellini Group
• Research Availability: April 2023

Table of Contents

1. Executive Summary
2. Market Conditions
3. Market Snapshot
4. The College Board
5. Ellucian
6. Jenzabar
7. Oracle
8. Workday
9. Institutional Considerations
10. Methodology