With tax season just around the corner, I’m reminded of a wonderful CampusMetricsSM insight that helps compare the use of the IRS Data Retrieval Tool (DRT) across award years. The DRT Usage Year-Over-Year insight breaks down DRT users by students and parents for each award year, displaying the percentage of information transmitted from the DRT compared to all ISIRs received.
Whether or not the transferred information was manually changed on the FAFSA, this insight counts each student or parent when they have successfully used the tool at least one time.
With the introduction of Prior-Prior-Year (PPY) at the beginning of the 2017-2018 award year, expectations were set that the usage of the DRT would be driven higher—given that students and parents had the opportunity to provide tax information from nearly two years ago. This insight is a great way to see the real impact of the PPY update and to help schools predict how heavy the usage will be for the 2018-2019 school year.
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 (like DRT usage, discussed here)
- Operational Insights
- Award Letter Insights
- NPC Insights
These insights can help 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.