Financial Aid in the 21st Century: The Campus Perspective - PowerPoint PPT Presentation

Loading...

PPT – Financial Aid in the 21st Century: The Campus Perspective PowerPoint presentation | free to download - id: 694528-YzIwN



Loading


The Adobe Flash plugin is needed to view this content

Get the plugin now

View by Category
About This Presentation
Title:

Financial Aid in the 21st Century: The Campus Perspective

Description:

Title: Tough Times and High Stakes Author: kkbrace Last modified by: thomas.ratliff Created Date: 12/8/2010 3:49:56 PM Document presentation format – PowerPoint PPT presentation

Number of Views:61
Avg rating:3.0/5.0
Date added: 31 July 2019
Slides: 41
Provided by: kkbrace
Learn more at: http://www.isfaa.org
Category:

less

Write a Comment
User Comments (0)
Transcript and Presenter's Notes

Title: Financial Aid in the 21st Century: The Campus Perspective


1
Financial Aid in the 21st Century The Campus
Perspective
  • Presenters
  • Jo Young Switzer, President Manchester College
  • John Beacon, Vice President Indiana State
    University
  • Jim Kennedy, Associate Vice President Indiana
    University
  • Thomas Ratliff, Associate Vice President Indiana
    Wesleyan University
  • Moderator
  • Mark Franke, Associate Vice Chancellor Indiana
    University-Purdue University Fort Wayne

2
Tough Times and High Stakes
  • Financial Aid
  • Jo Young Switzer, President
  • Manchester College

3
Indiana Independent Colleges Universities
  • n31
  • Enroll 22 percent of Indiana college students
  • Receive no state funds directly
  • I.C.I. coordinating organization

4
(No Transcript)
5
(No Transcript)
6
(No Transcript)
7
(No Transcript)
8
(No Transcript)
9
What to do?
  • Celebrate student choice
  • Advocate for funds for higher ed
  • Work together!

10
Future impact of Financial Aid on public
universities John beacon Vice President
for enrollment management, marketing
communications Indiana state university
11
Access to higher education and financial
assistance
  • 1636 For the first 226 years of this countrys
    history, access to college was reserved for the
    wealthy and privileged
  • 1862 Land Grant Movement opened the door for the
    first time to the average person
  • 1952 Servicemans Readjustment Act
  • 1958 Eisenhowers National Defense Student Loan
    (Perkins)
  • 1964 Johnsons Great Society and Civil Rights
    Movement (work study and GSL)
  • 1972 Pell Grantthe foundation on which other
    aid is built

12
More of the cost of attendance is being borne by
students
  • Over the past 20 years, the student share of
    public universities costs of tuition and fees has
    roughly doubled
  • In each of the past 10 years, tuition and fees at
    public universities has increased an average of
    5.6 beyond the rate of inflation.
  • The tuition and fees at public four-year
    institutions in 2010-11 on average is 7.9 higher
    than in 2009-10
  • The Chronicle of Higher Education and College
    Board

13
And yet
  • over the past five years, as the average tuition
    and fees at public four-year institutions has
    increased by approximately 24, the average
    direct cost of attendance has declinedafter
    considering grant aid.
  • The total grant aid for a full-time student grew
    by 22 (1,100) between 2008-09 and 2009-10,
    largely because of the increase in Pell Grants
    and Veterans benefits.
  • StillIn constant 2009 dollars, the average
    Stafford loan in 1999-00 was 5,670 and in
    2009-10 it was 6,550, an annual increase over
    the past 10 years of 880
  • The Chronicle of Higher Education and College
    Board

14
Undergraduate Student Aid by Source (in
Billions), 2009-10
  • SOURCE The College Board, Trends in Student Aid
    2010, Figure 2A.

15
Grants and Loans as a Percentage of Funds from
Total Aid and Nonfederal Loans Undergraduate
Students, 1994-95 to 2009-10
  • SOURCE The College Board, Trends in Student Aid
    2010, Figure 8A.

16
Average aid per undergraduate FTE, 1994-95 to
2009-10 (in constant 2009 dollars)
  • SOURCE The College Board, Trends in Student Aid
    2010, Figure 11A.

17
Maximum Pell Grant as a percentage of tuition,
fees, room and board 1990-91 2010-11
18
The landscape in Indiana
  • Although slow and steady growth is predicted,
    Indianas economy is not expected to recover
    until at least 2014
  • Indiana per capita income is 33,725 (5,413
    below national average)
  • Poverty rate 13.1 (nearly 1 higher than the
    national average)
  • 24.7 of population is less than 18 years old
    38.9 is 50 or older
  • Currently 5.5 are Hispanic (Note 35 of
    children under age 5 in the US are
    Hispanicfastest growing population and 12 years
    from our front doors)
  • By 2025, 70 of the US population will be in nine
    southern states

19
What concerns me
  • Need-based institutional aid is slowly being
    eroded by merit scholarships (stealing from the
    poor to give to the rich)
  • State appropriations have declined by
    approximately one-third since 1999, and are not
    likely to rebound soonpushed more of the cost
    onto students.
  • We fill the unmet need gap for first-year
    students with parent and auxiliary loans
  • Faculty frequently advise students to drop
    classes with little regard for the impact SAP
    can have on their persistence.
  • Millennial students are comfortable taking web
    courses, which could impact future course
    delivery , and ultimately reduce the number of
    colleges and universities serving traditional age
    students .
  • We are unprepared to meet the number and the
    needs of a growing minority population who may be
    less prepared academically and financially.
  • The retirement of a more active Baby-boomer
    generation will provide opportunities and
    challenges (curricula selection and fixed
    incomes).

20
What concerns me globally
  • Among the 36 industrial nations in the world, we
    have slipped from 1st place to 12th place in the
    number of citizens who have earned bachelors
    degreesbehind countries like Japan, Russia and
    Germany
  • For every 20 children born in the US, 16 graduate
    from high school, 10 go on to college, and five
    graduatethats 14
  • Our nations leadership role end economic
    security as China becomes a superpower within 10
    years, without well educated citizens.

21
How the Changing Landscape will affect the
administration of financial aid James
Kennedy Student Enrollment Services Indiana
University

22
Overview
  • Technology initiatives important for the
    recruitment and retention of students
  • Technology in the financial aid office
  • Net Price Calculator
  • Scholarship automation
  • Early Warning Systems
  • Customer Relationship Management (CRM)
  • Financial Literacy
  • Financial Aid Systems

23
Net Price Calculator
  • Net price
  • Award letter standards
  • Prior-Prior Year
  • Institutional aid

24
Scholarship Automation
  • Automated scholarship processing
  • Automatic
  • Applications
  • Campus scholarship resources
  • Estimated scholarship awards

25
Early Warning Systems
  • Focus
  • Early warning system for financial aid?
  • How to obtain financial aid data outside student
    systems?

26
Customer Relationship Management
  • Focus
  • How to leverage for financial aid?
  • Improved communications

27
Financial Literacy
  • Financial education for students?
  • Web tools
  • Tracking student debt
  • System notifications

28
Financial Aid Systems
  • Robust
  • Automation
  • Self-service
  • Compliance

29
To Be, or Not To Be Financial Aid Administration
  • Thomas M. Ratliff
  • Associate Vice President for Financial Aid
  • Indiana Wesleyan University

30
Changing of the Guard
  • Many prominent financial aid professionals are
    reaching retirement age
  • Institutions offering early out options due to
    budget challenges
  • Increased regulatory requirements are giving
    added incentive to leave the field
  • This will cause a substantial loss of experience
    within the industry
  • Institutions may begin to see challenges in
    hiring well seasoned financial aid leadership

31
The Next Generation
  • Young aid administrators entering the field
  • Less face-to-face training being offered
    nationally
  • Student populations increasing rapidly, may cause
    institutions to lean more towards specialization
    of duties for staff
  • If so, less need may be perceived for fully
    trained, well-rounded financial aid professionals
  • Fewer opportunities for the next generation to
    become acclimated to the big picture issues

32
Association Survival Challenges
  • Each of the regional financial aid associations
    is currently facing an identity crisis
  • State association memberships in our region have
    fluctuated in recent years, with a downward trend
  • Loss of many associate members and organizations
    reducing volunteer base to do the work of the
    associations

33
Need Congressional Torchbearers
  • Recent elections and deaths have brought changes
    to the Congressional players list
  • Key financial aid supporters are missed
  • Such representatives regularly contributed to
    policies that were favorable to our campuses
  • Without a strong supportive internal voice,
    financial aid could quickly become a target for
    national and state budget cuts to overcome
    deficits

34
The Rise of Non-term Financial Aid
  • More institutions are realizing that students of
    all ages want more control in the delivery of
    their educational experience
  • The growth of online education options stems from
    this increase in demand
  • Generally, financial aid policies are written for
    term-based institutions
  • Non-term financial aid processing is a completely
    different world

35
The Rise of Non-term Financial Aid
  • Little regulatory guidance, but heavy scrutiny
  • Complex academic calendars, often unique to the
    individual student
  • Difficult to program tracking and packaging
  • Repetition of work is constant
  • The manual intensity of processing aid for such
    students will give reason for an increased
    skilled labor force
  • Yet these factors could be overlooked in the
    pursuit for higher enrollment numbers

36
Increased Regulation
  • The regulatory burden and restrictions are likely
    to increase
  • This complicates the ability of institutions to
    use the financial aid programs effectively for
    students
  • See ACG, SMART, TEACH,
  • Two-Pells-In-An-Award-Year
  • An increasing number of institutions may bolster
    their endowments and turn away from federal and
    state funding

37
Financial Aid Administrators still?
  • Will we continue to have a voice on financial aid
    policy?
  • Will the next generation of leaders gain
    sufficient experience?
  • Will institutions meet the challenge all the
    complexity aid administration brings?

38
(No Transcript)
39
(No Transcript)
40
  • Discussion
About PowerShow.com