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