Financial Aid Systems Are a Reflection of the SIS
In this post, we only look at institutions for which we have information regarding SIS as well as Financial Aid Systems. However, we have SIS data for over 5,000 higher education institutions while only 2,000 institutions for Fin Aid systems. Therefore, we cannot extrapolate an actual market share for these institutions.
Unsurprisingly, institutions use the same financial aid systems and SIS from the same provider when available.
So, we built two graphs: one for institutions with an enrollment of over 5,000 and another for institutions with an enrollment of under 5,000. These are our findings:
Institutions with a larger enrollment have more homegrown systems;
We see a higher concentration of smaller institutions (i.e. under 5,000) that use external systems like PowerFAIDS from College Board;
PowerCampus and Jenzabar are the two SIS with the highest % of third party Financial Aid systems.
Note: We started compiling financial aid information only about 6 months ago so the following information should be considered preliminary.