Welcome & Introductions
NCASFAA Fall 2012Pioneers in PersistenceClearing the Path for
Non Traditional StudentsNovember 13, 2012Charlotte, NC
Presented by:Mike OGrady, Financial Aid Services
Dr. Carlo Salerno, PAVE
Ms. Sharon Oliver, Associate Vice President, North Carolina
Central University Why should Financial Aid Offices Care about
persistence?
Accountability - Accountability - AccountabilityDiscretionary
budget has a bulls eye on it.Huge waste of tax payers money when
students dont graduateStop outs are less likely to pay their
student loansNCASFAA Conference - Fall 2012 Persistence
The New PipelineSource: Lumina FoundationNon-Hispanic white
population will increase by 10.2 million by 2020African-American
population will increase by 9.5 million by 2020 Hispanic population
will increase by 24.1 millionNCASFAA Conference - Fall 2012 31.1
%12.6 %17.6 %% that have a college degreePersistences Perfect Storm
Decreasing traditional college bound population Worst economy since
the Depression Budget freezes on all levels One out of four
homeowners is in a negative equity position or no equity position
Filling and keeping seats from a new demographicNCASFAA Conference
- Fall 2012 Discuss health club paradoxNCASFAA Conference - Fall
2012 Perfect Storm ContinuedBy 2020 65% of all jobs will require
postsecondary educationIn 1993 the average student loan debt load
(in todays dollars) was $14,500In 2011 the average student loan
debt load was $26,600In 1999 the default rate was 5.6%, in 2010 the
default rate was 9.1%NCASFAA Conference - Fall 2012 According to
Thom Golden from Vanderbilt University, non-traditional students
dont enroll often due to: 1) Lack of Clarity. 2) Concerns over
affordability, and 3) Lack of clarity around eligibilityAccording
to ACE- 1.8 million low-income students would received financial
aid but didnt applyFinancial constraints are the number 1 reason
for 50% of student who enroll and drop out.Financial Aids
RoleRetention FunnelADMITTED
Recruiting students that dont matriculate is extremely expensive
and is a lose-lose
proposition.GRADUATESALUMNIFreshmenSophomoresJuniorsSeniorsNCASFAA
Conference - Fall 2012 Discuss factors that affect retention
including price and default characteristics.
Add my default slides behind this oneModel of Communication
SenderEncoder Decoder ReceiverNCASFAA Conference - Fall 2012
Leveraging Technology for Better Customer ServiceTransfer work-load
to where interpersonal skills are neededReduce rote
tasks24/7Institution can become bilingualNCASFAA Conference - Fall
2012 Consistent brand managementMitigates budget cutsGo GreenUse
analytics as your GPS for default managementDiscuss analytics and
proactive debt counseling.The Medium is the MessageMarshal
McLuhanE-MailFacebook TwitterNet Price CalculatorDynamic Award
LettersNCASFAA Conference - Fall 2012 Snail Mail Direct Mail Phone
InternetCampus VisitsGPS all the above through automatic
communications.Include our discussion based on Chaperone/FinLit
outreach
Discuss FAO priorities based on NASFAA research we didStaying
Afloat Diversify your staff - age, sex, and ethnicity Technology,
Technology, Technology Leverage resources from the Department of Ed
Benchmark with your peers constantly Acquire cross-cultural
trainingNCASFAA Conference - Fall 2012 Analytics, constant
outreach, constant monitoring of student performance/financial aid
situation.In 2007 Chancellor Nelms established the Quality Service
Initiative (QSI) with the intent to:Case-Study: North Carolina
Central UniversityEnhance customer satisfactionImprove
responsivenessImprove effectivenessIncrease student retention and
graduation rates
NCASFAA Conference - Fall 2012 College Culture Shock &
Veterans PTSD/I Awareness Introduced by 1954 by Kalvervo Oberg
Normally a student blames his or her financial aid as the reason
for leaving school. Difficulty in assimilating to new culture and
environment Anxiety, disorientation, uncertainty, confusion Phases:
Honeymoon Phase-Negotiation Phase--Adjustment Phase (things become
normal)-Reverse Culture Shock
NCASFAA Conference - Fall 2012 Factors that affect
persistence.Veterans and Post Traumatic Stress Disorder/Injury
(PTSD/I)One in five veterans will experience re-entry issues or
possibly PTSD/I
Approximately 200,000 women served in Afghanistan and Iraq
23% to 33% of women veterans report experiencing MST of which
42% will acquire PTSD
NCASFAA Conference - Fall 2012 Veterans and Post Traumatic
Stress Disorder/Injury (PTSD/I)Re-entry issues for veterans often
result in alcohol abuse, drug abuse, family or marital problems or
suicide
Symptoms of PTSD may include anger and irritability, spacey
stare, short attention span, confusion, trouble sleeping, and
self-medicating.
What is your SAP policy regarding PTSD?NCASFAA Conference - Fall
2012 Internal Champions/Task ForceConsider a One Stop
ShopAdmissionsFinancial AidMulticultural AffairsVeterans
AffairsStudent AccountsPsychological ServicesNCASFAA Conference -
Fall 2012 A small private college of 1000 students in New York
State with 43% of its Students Pell eligible instituted and early
identification and automated alert system to improve their
retention.
In spring 2010 to fall 2010 they retained 36 students more
thanThe previous year. In Fall 2010 to Spring 2011 they retained
39Student more than the previous year. In Spring 2011 to Fall
2011They retained 59 students more. And in Fall 2011 to Spring
2011They retained 70 students more than the previous year.
Total Net Revenue: Over 2 Million dollars.
Case study #2Retention PaysNCASFAA Conference - Fall 2012
Diversify your staff - age, sex, and ethnicity Co-source with
partners (more) Leverage technology (more) Bad customer service
leads to bad retention Improve communication internally and
externallyinclude the families Send award letters to students
before they leave for the summer Acquire an early alert system and
process
Doing less with more!!!NCASFAA Conference - Fall 2012