Page 57 - Security Today, May/June 2025

H I G H E R E D U C A T I O N C Y B E R
students and enhancing educational outcomes. By adopting ad-
vanced digital solutions, institutions can significantly reduce the
burden of time-consuming manual reviews, freeing staff to focus
on strategic initiatives that foster student engagement, retention,
and academic achievement. Higher education institutions could
save an average of 15-20 hours each week during peak enrollment,
enabling them to redirect their efforts toward shaping a more dy-
namic and supportive learning environment.
C H A R T I N G T H E S T U D E N T F I N A N C I A L R O A D M A P
While preventing and reducing enrollment fraud is critical, it is equally
important to consider the financial journey students embark upon
once they step onto campus. For many students, college is the first
time they open a bank account, viewing it as a key tool for managing
student loans and daily living expenses. Without secure identity verifi-
cation at the point of enrollment, fraudulent actors can gain access to
the financial aid meant for genuine students, potentially derailing their
financial path from the very start. By safeguarding student identities
from day one, universities ensure that legitimate students receive the
financial support they need, allowing them to build a strong foundation
as they navigate their finances during college and after graduation.
Providing students with the right tools and knowledge to
manage their finances responsibly can leave a profound and last-
ing impact on their futures. Universities, in working with FinTech
providers, have the opportunity to offer valuable financial literacy
resources that empower students to make informed choices about
their money. As students navigate the journey through higher educa-
tion and into their careers, they often face new economic challenges,
from paying off loans to managing their income and planning for
the future. This transition period can be particularly demanding for
students who balance work and studies simultaneously.
By equipping them with the right tools early on, universities
and fintech providers can help students of all ages foster long-term
financial health and empower them to build a secure financial fu-
ture long after they leave the classroom.
As higher education continues to evolve, it’s clear that tackling
enrollment fraud and financial mismanagement requires a unified,
proactive approach. By combining advanced identity verification
technologies with a focus on financial literacy, schools can protect
students, preserve the integrity of education, and ultimately shape
a more equitable and resilient system.
REFERENCE
1. https://www.ruffalonl.com/blog/enrollment/3-key-takeaways-from-the-
cost-of-recruiting-an-undergraduate-student-report/
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