Oracle announced that it has completed the acquisition of Vocado, which provides a leading student-centric, cloud-based financial aid solution for higher education institutions.
Vocado works with thousands of financial aid sources to optimize funding for any type of higher education learning model. The solution helps students identify eligibility and obtain financing so they can achieve their academic goals. Vocado integrates its financial aid solution with both cloud and on-premise Student Information Systems (SIS).
Oracle Student Cloud is Oracle's next-generation, cloud-based SIS designed for all academic models across every stage of the modern student lifecycle. Vocado adds the most advanced financial aid solution with a highly-automated and scalable platform. Together, Oracle and Vocado offer institutions the most complete SaaS solution suite in higher education.
"The education industry is undergoing an unprecedented digital transformation," said Steve Miranda, Executive Vice President of Product Development, Oracle. "Oracle Student Cloud is architected for the modern student journey and the addition of Vocado helps our customers and their students manage financial aid more strategically, thereby solving one of the most complex problems inhibiting academic success."
"Our passion for the education industry guided us to solve the biggest pain points for both schools and students, resulting in a solution that drives deep institutional transparency, regulatory compliance, and superior student visibility and control of their education financing options," said Dan Driscoll, CEO of Vocado. "We are absolutely delighted to join forces with Oracle. The combination with Oracle allows us to advance our collective vision for higher education."