Financial Aid is one of the most challenging components of a Student System. Federal, State and Institutional requirements with complex algorithms, policy restrictions, compliance governance and extensive interaction with multiple external agencies create a large and complex financial ecosystem. In addition to the functionality that would be expected as a part of any financial aid system, most universities have to deal with restricted use funds, limited training and limited time to react to academic and regulatory policy changes. Financial transactions of this nature tend to require immediate attention, detailed tracking and are subject to rework when any underlying financial or academic component changes.
Kuali Student Financial Aid (KSFA) will be divided into five phases. Each phase includes major components of a Student Financial Aid system. The fifth phase is optional and includes extensions that may not be necessary for all stakeholders or even a large or significant student group. These extensions may be principally related to an academic area such as academic progress, but are nonetheless a requirement to some portion of the financial aid community at large.
Sigma Systems, Inc. has been working in the Student Financial Services space since the late 1960’s, and its flagship product, ProSAM, represents the most comprehensive best-of-breed Student Financial Aid product in the US. Through this partnership with the sponsoring institutions, the Kuali board and Sigma Systems, Inc., we will leverage our extensive knowledge in the financial aid product and implementation space, to bring a community-sourced student financial aid system to the Kuali Student effort. Our four sponsoring institutions include the University of Indiana, Iowa State University, the University of Maryland at College Park and the University of Washington. Washington has been chosen as the First Implementing Institution.
The phases of the project, along with estimated timelines, are:
Phase 1 (2H 2014)
Phase 2 (1H 2015)
Phase 3 (2H 2015)
Phase 4 (1H 2016)
Phase 5 (2H 2016) - optional
At the end of each phase of the project, Sigma Systems, Inc. will contribute both the code and the documented intellectual property underpinning the student financial aid system developed during that phase to the Kuali Foundation.
KSFA Technical Kickoff Summary.pdf
KSFA Status Report - August 2014
KSFA Status Report - July 2014
Kickoff Workshop - Denver
Tech Kickoff (Maryland) - Overview slides