Machine learning based financial aid management process
Publication Type
Conference Proceeding Article
Publication Date
8-2023
Abstract
Financial awards, such as scholarships and bursaries, are offered by universities to financially support students, based on factors such as academic performance, financial need, and leadership potential. The financial awards process is managed by a financial awards (FA) team, which involves two processes: Awards Selection and Awards Disbursement. The Awards Selection process involves assessing various aspects of the application, such as student demographics, family background, academic and co-curricular achievements, and personal essays, and shortlisting suitable candidates for each award. The process becomes complex due to the combination of several applicants and several donors, each with different requirements. To address these challenges, this paper proposes an automated financial aid process design, which integrates rule-based techniques, text classification algorithms, and point aggregation models to generate the ranked list of candidates for each award. The model is tested based on historical data and achieves an accuracy of 84% for text classification and a precision@5 of 84.6% for the overall solution model.
Discipline
Artificial Intelligence and Robotics | Educational Administration and Supervision
Research Areas
Intelligent Systems and Optimization
Publication
Proceedings of AMCIS 2023
Publisher
Association of Information Systems
City or Country
Atlanta, Georgia, USA
Citation
GOTTIPATI Swapna; SHANKARARAMAN, Venky; RAO, Komirisetti C.; and VETRIVILLALAN, Vennila.
Machine learning based financial aid management process. (2023). Proceedings of AMCIS 2023.
Available at: https://ink.library.smu.edu.sg/sis_research/8495
Copyright Owner and License
Authors