preparing for ppy implementation - act...jul 15, 2016 · player #8: admission offices • adjust...
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Preparing for PPY Implementation
Eileen O’Leary, Stonehill College
Todd Rinehart, University of Denver
Sarah Summerhill, Michigan State University
ACT Enrollment Planners ConferenceJuly 15, 2016
A Quick Review:What is Changing?
What Are The Benefits?
• Better alignment with existing admission schedules and deadlines.
• Accuracy of Data –
o Federal tax returns will be filed by the time families apply for aid.
o Most families will be able to import their income data from the IRS to FAFSA using the Data Retrieval tool.
• Provide a financial picture to families much earlier.
• More time to promote financial fit, and articulate a value proposition.
o Earlier FAFSA: The Relevant Players
o US Department of Education
o Software Providers
o The College Board
o State Agencies
o Financial Aid Offices
o Admission Offices
o High School Guidance Offices
o Students and Parents
Financial Aid in the Crosshairs…
o October 1 door opens for FAFSA completion
o When will ISIR files be available to schools?
o Pell Grant tables and Congressional action
o Campus Based Allocation info availability
o Need Analysis Tables
o Transition year using 2015 income AGAIN
o Subsequent FAFSA years
o IRS Data Retrieval Tool
o Pre-populated fields on the FAFSA?
o Social Media campaign: PPY and DRT
Player #1: US Dept. of Education
o Banner
o Datatel
o Colleague
o PeopleSoft
o Powerfaids
o Dependence on Dept of Ed for need analysis table updates annually – still some “missing pieces”
Player #2: Software Providers
o PROFILE User Schools
o Availability changes?
o Compatibility with Early FAFSA filing?
o Continued value of PROFILE to some institutions?
o Early Decision process
o Early Action process
o Need Analysis enrichment
Player #3: The College Board
o NASFAA Survey of States
o 27% moving to earlier deadlines
o 73% will meet to discuss in September
o Set asides for returning students or late filers?
Player #4: State Agencies
o NASFAA session: 300 people
o 1/3 moving up deadlines
o 1/3 don’t know
o 1/3 staying the course the first year at least
o Verification issues in transition year? DCL next week (definition of “significant” changed in EFC)
o Verification decrease in subsequent years?
o Increase in special conditions requests
Player #5: Financial Aid Offices
o Packaging of returning students can be earlier
o Staffing increases necessary?
o Work flows flatten?
o Priority date vs Deadline – congressional concern
o Need to change FA communication to prospective and returning students
Player #5: Financial Aid Offices
o Changes to FA deadlines to match Admissions’?
o Will schools become more “need aware”?
o Will use of merit aid change? Will need become less relevant?
o HEA restrictions on using FAFSA info…
o Will cost become an even bigger decision driver for commitments?
Player #5: Financial Aid Offices
o Admissions Checklists for Financial Aid Professionals, Admissions Counselors, & Guidance Counselors
o Create a Financial Aid Timeline Tool -NASFAA members can create a customized, shareable financial aid & admissions timeline.
o Video tutorial describes how the timeline tool works and get started on yours today.
NASFAA and PPY
o Target: Admission Staff, HS and Independent Counselors
o Messaging:
1. Create Key concepts (e.g., SPGP implications) to discuss with institutional/school leadership;
2. Training for professionals working “in the trenches” with students and families; and
3. Good practices for institutional/school processes (e.g., financial aid nights, recruitment events)
NACAC and PPY
1. Educate professionals
• Webinar series
• Standard PowerPoint presentations
• Animation/video
• Moderated bulletin board
• Conference sessions
• Website content
2. Share information with students and families
• Website content
• Student-facing materials
3. Observe and report
• Interviews with colleges and high schools to identify challenges/successes of Year 1 Fall 1 (report due Nov/Dec)
NACAC Objectives through Spring 2017
PPY Coalition
o Goal 1
o Coordinate resources, training, and communication
o Goal 2
o Smooth transition to PPY and Early FAFSA
AACRAOACT
ASCACollege Board
NACACNASFAA
NASSGAPNCANNSPA
Player #6: High School Counselors
o Improved discussions about financing college
o Timing of Financial Aid/FAFSA information nights (Soph/Junior year?)
o Fall workload increased
o Caseload reality
o More responsibility
o Fundamental shift in discussions
o Serving the neediest of populations
Player #7: Students & Families
o Application Creep & Senioritis
o Stress of getting in applications and FAFSA
o Does senior year matter anymore?
o Discussions shift to affordability
o Proper academic and social fit, or more financial?
Player #7: Students & Families
o Unintended Consequences of PPY
o When colleges admit and award on a first-come/first-served basis, early applicants have an advantage
o Is it realistic to expect low-income students to submit admission and FAFSA applications as early as their more affluent peers?
o Is your institution being proactive in helping counselors and families with this transition?
Player #8: Admission Offices
o Cross-Training and OFA Visibility
o Your road warriors may not be ready
o Prepare for discussions shift to affordability
o Selling point of college isn’t cost
Player #8: Admission Offices
o Will earlier FA decisions create pressure to:
o Get admissions decisions out earlier? (consequences)
o Application Creep (ED/EA)
o To "guarantee” an aid package before application? (SPGP)
o Move up the Admissions Calendar
o Yield events in fall senior year
o Recruitment beginning earlier in hs years
Player #8: Admission Offices• Adjust timeline and content of communications
o Earlier communications - educate about the opportunity to apply for financial aid in October.
o Combine messages - encourage students to apply for admission and financial aid simultaneously.
• Set Cost of Attendance earlier
• Accurate awards
• No duplication of work - provide packages, not estimates.
• Include financial aid packages with admission offers.
• Prepare ‘melt’ strategies and communications. Up in deposits or simply receiving commitments earlier?
This is a disruption, but things are going to be fine…• Many families will still consider admission and financial aid sequential
processes, and will apply for aid after they have been offered admission.
• But...to remain competitive with peer schools, colleges better be prepared to ‘serve the demand,’ providing both admission and aid offers when students have raised their hands.
• Longer-term, we may see the ‘limited demand’ shift to a much larger audience, and families will expect colleges to provide financial information much earlier in the process. The ‘New Normal’…
• Most importantly, use the additional time to assist the students prior-prior was intended to serve the most. Efforts to increase college access should be enhanced greatly by the additional time our offices will have to work with families to complete the financial aid process.
What Does All of This Mean?
Consequences for NACAC’s Statement of Principles of Good Practice (SPGP)?
II.B.12. not establish any application deadlines for first-year candidates for fall admission prior to October 15 and will give equal consideration to all applications received by that date;
II.B.3. permit first-year candidates for fall admission to choose among offers of admission and institutionally-affiliated financial aid and scholarships until May 1 and state this deadline explicitly in their offers of admission;
• Observation and monitoring should precede any recommendations.
• Admission Practices Committee should protect the May 1 deadline!
• Changing May 1 would defeat a main purpose of PPY, which provides MORE time for students and families. We don’t need to return to the six-week rush!
How is Your Planning???
• How many have a plan?
• Half way there?? More decisions to be made?
• All the way there? Feeling great?!?!
• How many will set Cost of Attendance earlier?
• How many have changed admission deadlines?
• How many have changed financial aid deadlines?
Changes at U of Denver
• Adjusted financial aid deadlines to match our admission deadlines:
• November 1 for Early admission and financial aid
• January 15 for Regular admission and financial aid
• Revised budget timeline - Cost of Attendance will be set in the fall. This will allow our financial aid office to provide packages, not estimates, to admitted students.
• Financial Aid packages will be provided at the same time as admission offers (or within a few days).
• We view this as an ‘opportunity’ for students not a ‘requirement.’
o Stonehill financial aid date range to begin on our admissions application deadlines:
o Dates for financial aid and filing expressed as a range and not a deadline for ED, EA, RDw
o Cost of Attendance, estimated as always: Board of Trustees have not yet changed when they set tuition for the next academic year. We will estimate aid which historically we don’t change
o Financial Aid packages will be provided at the same time as admission offers if all can be mailed. (Still under discussion)
o We view this as an ‘opportunity’ for students not a ‘requirement.’ Those filing after recommended dates will not be negatively impacted.
Changes at Stonehill
o Cost of Attendance also estimated:
o State funding levels are not set that early
o Board of Trustees have not yet changed when they set tuition for the next academic year
o Scholarship distribution schedule is not changing
o Financial Aid packages will be provided as early as December for students who apply for both application and FA by mid-Nov. Likely going to receive both hard copy and electronic copies.
o We are not changing priority aid deadlines and will estimate aid with historical date, which we also don’t traditionally change.
o Begin yield activities in the fall
Changes at Michigan State
Discussion and Q&A
• Eileen O’Leary - [email protected]
• Todd Rinehart - [email protected]
• Sarah Summerhill - [email protected]