The Financial Aid Cloud Environment Technology (FACET) Program will modernize the financial aid processing technology at UCLA, enabling efficiency, contemporary approaches to financial aid administration, and an improved student and staff experience.
Effective administration of Financial Aid is essential to UCLA. The current system is nearing the end of its lifecycle and in the near future the effort to maintain the system will render it prohibitively difficult to use. The new system will modernize financial aid processing at UCLA, to the benefit of students, financial aid staff, and by extension the entire UCLA community.
Student Financial Planning (SFP) is an Oracle product designed to make financial aid administration easier and more efficient. FACET will implement SFP at UCLA.
The Financial Aid Management (FAM) mainframe has been UCLA’s primary financial aid processing system since the mid-1980’s. While FAM has proven stable and reliable, it is now outdated technology. FAM will soon become a barrier to administering financial aid, including: information sharing, effective counseling, systems integration, communications, and other significant technology needs.
The Digital Campus Roadmap will ensure that UCLA’s Information Technology Services (ITS) operating model excels both in strengthening the foundation of technology at UCLA and advancing the mission of the university. FACET is an initiative of the Digital Campus Roadmap.
The new system, Student Financial Planning (SFP), will create an intuitive user experience with increased functionality, which will allow UCLA to meet evolving student needs. SFP will enable quicker turnaround time for financial aid processing. Through the transparency and simplicity of its platform, SFP will empower students to achieve their educational goals.
Student Financial Planning (SFP) will provide UCLA’s financial aid staff with several opportunities:
• Automate financial aid and scholarship processing.
• Seamlessly track financial aid requirements.
• Better report on centralized data.
• Reduce manual tasks to increase efficiency.
• Direct students to an improved financial aid portal, reducing confusion and frustration throughout the financial aid process.
• Complete needed work and tasks through a contemporary software interface.
• Aid in enrolling admitted students and achieving institutional and departmental priorities through faster, more efficient, and more accurate awarding.
• Alleviate regulatory compliance concerns.
• More effectively disburse offers.
FACET is dedicated to providing transparent updates and relevant training throughout the implementation of SFP.
• Automate financial aid and scholarship processing.
• Seamlessly track financial aid requirements.
• Better report on centralized data.
• Reduce manual tasks to increase efficiency.
• Direct students to an improved financial aid portal, reducing confusion and frustration throughout the financial aid process.
• Complete needed work and tasks through a contemporary software interface.
• Aid in enrolling admitted students and achieving institutional and departmental priorities through faster, more efficient, and more accurate awarding.
• Alleviate regulatory compliance concerns.
• More effectively disburse offers.
FACET is dedicated to providing transparent updates and relevant training throughout the implementation of SFP.
In the current implementation timeline, students will begin to use the system in 2025. The implementation timeline is subject to change.
The new system will be implemented in several phases, each focused on a different aspect of UCLA’s financial aid processing and administration. FACET will manage this phased system change in collaboration with our campus partners, providing training and information to create an effective, lasting transition. Students and financial aid staff will be provided relevant communications, training, and resources to support their transition to the new system. As the launch date approaches, more details will become available here.
The FACET Program is focused on transitioning UCLA from an out-of-date financial aid processing system to an updated, modern system. Individual or general questions about financial aid can be directed to UCLA Financial Aid and Scholarships.
