The BTO, in collaboration with UCLA’s Financial Aid and Scholarships (FAS) to migrate UCLA’s financial aid services to a sustainable cloud-based platform. The new platform, Oracle Student Financial Planning, will provide critical enhancements to the financial aid process, including improved operational efficiency and compliance, and an enhanced experience for students and their families. The new financial aid solution will make a difference to thousands of students across our campus for many years to come.
What is Financial Aid Cloud Environment Technology (FACET)?
Currently, UCLA uses the Financial Aid Management (FAM) mainframe system. After a careful assessment of financial aid needs and vendor options, UCLA selected a cloud-based solution called Oracle Student Financial Planning. UCLA Financial Aid and Scholarships, in partnership with the BTO and other stakeholders, are working closely together to implement the new system, which will streamline and enhance the student experience. FACET stands for Financial Aid Cloud Environment Technology and is the name of the implementation project.
Benefits to UCLA:
FACET will enable increased one-on-one interaction and add value to the student experience by offering:
- Cloud-based technology
- Seamless integration with existing internal and external systems
- Ability to automate annual federal regulatory updates
- Reduction in manual adjustments
- Improved operational efficiency and compliance