FOR IMMEDIATE RELEASE
CampusLogic Developed IP-Reporting Feature to Help Schools Catch “Pell Runners”
Phoenix, Ariz. (February 12, 2015) – CampusLogic, creator of one-of-a-kind financial aid software solutions, added an IP-reporting feature that enables schools to combat student aid fraud. Student aid fraud is said to cost taxpayers $1 billion or more a year, and until now, there has been no way for institutions to prevent this costly cybercrime.
“Student aid abuse contributes to rising tuition rates, making college less affordable for everyone,” said Chris Chumley, CampusLogic COO. “CampusLogic developed IP address reporting to give schools tools to find potential abusers.”
There are several forms of student aid abuse, including Pell running, straw students and account hacking. Pell runners obtain Pell grant funding and then drop out of school without finishing courses. Straw students give personal identifying information to fraud ringleaders who sign up as many students and receive the money from their student loans and grants. A third form of fraud is using a list of commonly used passwords to hack students’ accounts. Defrauders then divert student aid funds to their own accounts.
The solution? CampusLogic’s latest financial aid software upgrade allows schools to track the IP addresses of students as they log in. By monitoring suspicious login patterns, like multiple accounts logging in from the same address or accounts with multiple login failures, institutions can then investigate potential fraud or hacking attempts.
“Even though our software is intended to help schools reduce their administrative burden, we saw an opportunity to add additional value for our customers by providing an early warning system for fraud detection,” said John Manaloto, CTO of CampusLogic.
This is the second major product upgrade the ed tech startup has released recently. Last month, CampusLogic unveiled a new SMS messaging feature that allows schools to send text message notifications to students and drastically reduce response time.
CampusLogic delivers SaaS solutions for colleges and universities that decrease administrative costs, lower security risk and dramatically improve the student experience. CampusLogic is transforming the way schools provide financial aid and other student services, disrupting the $41 billion higher education market with solutions that fundamentally change the way business is done. For more information, visit campuslogic.com.