On February 16, CampusLogic officially announced the acquisition of the Cegment Net Price Calculator and Award Letter business. To say the last few months have been busy for CEO Gregg Scoresby and the CampusLogic leadership team would be a bit of an understatement. Helping colleges and universities personalize the financial aid process, from college search through graduation, has always been CampusLogic’s goal. Gregg sat down with us to talk about the synergies that drove the acquisition, his product integration plans, and more.
It’s already been a busy 2017 for CampusLogic! What details can you share about the Cegment acquisition?
It has been busy, and we’re really excited to be able to talk publicly about the acquisition. We’ve signed a definitive agreement to acquire Cegment’s Net Price Calculator and Award Letter business. Cegment created the most widely adopted commercial net price calculator used by the higher education industry, along with other cost-estimation products and services.
Leading the student financial aid engagement category is a strategic priority for CampusLogic. How does this move align?
It’s completely in alignment. Colleges and universities struggle with complicated financial aid processes that don’t meet students’ digital, mobile demands. This causes students to disengage and drop out of the financial aid process altogether—impacting enrollment, retention, and student satisfaction.
We set out to create a new category of leadership in student financial aid engagement. Our award-winning platform revolutionizes student forms, award letters, financial aid analytics, and (soon) scholarship management. Adding the industry’s best net price calculator adds to our build-out of the first—and only—end-to-end student financial aid engagement platform in the nation.
Will our purpose change?
Our purpose hasn’t changed. In fact, it’s stronger than ever. There’s a natural synergy between CampusLogic and Cegment; we share a common purpose to help schools change lives by improving student financial aid engagement. Bringing its cost-evaluation technology and services into the CampusLogic platform was a logical fit.
I take it very seriously that our customers have put their faith in our commitment to help them as they help students reach new educational heights. Our purpose drives everything every member of CampusLogic does, every day. Any team member would agree.
Does this bring CampusLogic more firmly into the enrollment space?
I prefer to think of it as bringing us more firmly into the accessibly space—which, of course, means more enrollments. Schools will have more opportunities to improve enrollment yield and better communicate value and affordability to prospective and returning students through the CampusLogic platform. When the financial aid process is simplified, accessibility increases.
What are you most excited about for CampusLogic’s new, expanded customer base?
The fact that CampusLogic now provides the only end-to-end student financial aid engagement platform, empowering our customers to better engage students from college search through enrollment. Our customers will no doubt experience improved enrollment yield, streamlined efficiencies for staff and students, and the best student experience by:
- Improving cost and value transparency with NPCSM
- Simplifying financial aid forms with StudentFormsSM
- Delivering digital, mobile award letters with AwardLetterSM
- Making informed decisions with instant FA insights from CampusMetricsSM
- Streamlining scholarship management with ScholarshipUniverseSM (coming soon)
It’s exciting to know that our platform helps schools change lives by increasing accessibility to education, helping students borrow less, and driving down the cost of financial aid administration.
How did you approach integrating Cegment into CampusLogic?
Acquisitions can be difficult for all involved. We worked very hard to ensure transparency and fairness to all staff members. As of today, Cegment is part of CampusLogic, and the Cegment brand has been replaced with the CampusLogic brand. We remain headquartered in Gilbert, Arizona, but will maintain a software engineering office in Boston. We’re welcoming 21 Cegment employees to the team, across a host of functions.
With 400 customers nationwide, any concerns about maintaining the #awesome reputation CampusLogic has established for industry-leading customer service?
I have no worries whatsoever. Our Customer Success team is already meeting with new customers, and our Development team assures me that all systems are go. There will be no disruption of service for anyone.
You’re a fan of personal reflection. What does this company milestone bring to mind?
It IS a milestone. It makes me think of our early days and the journey that brought us here. I’m proud of the CampusLogic team, of what we’ve built together to serve our customers. We’re growing; we’re innovating; we’re making a mark. And we’re doing it all with a focus on students and the ABCs of student finance: Improving accessibility, reducing student borrowing, and driving down the cost of financial aid administration.
Aside from that, it feels like it’s time to celebrate with tacos for everyone…right? Just kidding, not really.