Insight of the Month: ISIR Submission by Award Year

 

The Instant Insight, ISIR Submission by Award Year, gives you an overall view of the total ISIRs your institution received each month across each award year. What makes this insight unique is that the ISIRs aren’t grouped by the same calendar month year over year, but by the same month, based on FAFSA availability.

For instance, for award years 2015–16 and 2016–17, “Month 1” represents January, when FAFSA availability started at the beginning of the calendar year. For 2017­–18 and beyond, “Month 1” represents October—when FAFSA availability (aka “Early FAFSA”) is available sooner to account for prior-prior-year (PPY).

Predict Spikes in ISIR Submissions, Plan Better

This CampusMetricsSM Instant Insight can be extremely helpful for your FinAid Office and Enrollment. By looking at past data, you can forecast your expected inflow of ISIRs, month-over-month, for the rest of the year. Similarly, it aids in predictive forecasting for the upcoming award year—so you can plan resources (and vacation schedules) accordingly.

Data like this can also help correlate the effect of PPY and the inflow of ISIRs received by your school. For example, if your 2015–16 and 2016–17 data is showing significant spikes of ISIRs received around “Month 2” (which is February for those two years), but that spike has moved to “Month 5” for 2017–18 and 2018–19 (which is February), you can assume that PPY did not have any effect on students submitting their FAFSAs earlier. You would therefore predict that February will continue to be the peak season in which your institution receives most ISIRs.

However, if Instant Insights shows that 2017–18 and 2018–19 saw spikes in “Month 2” (November), you could presume that PPY had a huge effect on your students—and you should expect November to become your new peak season.

Data Visualization for Every Part of the Student Journey

Throughout the entire student financial services journey, CampusMetrics reveals insightful and actionable business intelligence with a comprehensive gallery of prebuilt insights, including:

  • ISIR Insights
  • Operational Insights
  • Award Letter Insights
  • NPC Insights

Instant Insights helps you better understand student populations, drive enrollment, make policy decisions, and adjust services to meet students’ needs. Adhering to all regulations, CampusMetrics uses aggregated, de-identified ISIR data to develop actionable trends and insights. 

Read More Monthly Insights >

 

 

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