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Innovative Student Aid Programs: West Virginia’s PROMISE Scholarship 2012 SHEEO Higher Education Policy Conference Chicago, Illinois Rob Anderson.

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Presentation on theme: "Innovative Student Aid Programs: West Virginia’s PROMISE Scholarship 2012 SHEEO Higher Education Policy Conference Chicago, Illinois Rob Anderson."— Presentation transcript:

1 Innovative Student Aid Programs: West Virginia’s PROMISE Scholarship 2012 SHEEO Higher Education Policy Conference Chicago, Illinois Rob Anderson

2 PROMISE Scholarship Eligibility Requirements 3.0 GPA in the core and overall coursework 22 on the ACT (minimum of a 20 in each of the subject areas) or 1020 on the SAT (490 verbal, 480 Math) FAFSA filed by March 1 st Completed Promise Application by March 1 WV Residency Core Requirements English – 4 credits Mathematics – 4 credits Social Sciences – 3 credits Natural Sciences – 3 credits The core grade point average includes all core classes 2 West Virginia Higher Education Policy Commission

3 PROMISE Scholarship Eligibility Criteria ACT ScoreACT SubscoreGPA N/A N/A West Virginia Higher Education Policy Commission

4 PROMISE Scholarship Tuition and mandatory fees at any West Virginia public college up to $4,750 Scholarships can be used at in-state public and private non-profit regionally accredited colleges PROMISE is renewable (for up to 8 semesters) as long as the student maintains a 3.0 in college and completes 30 credit hours in a 12 month period. 4 West Virginia Higher Education Policy Commission

5 2012 Eligibility Criteria and Deadlines For the PROMISE Scholarship The last date a student can take the ACT to obtain a qualifying score is June 9, 2012 The final SAT test a student may take in order to receive a qualifying score is June 2, 2012 Complete the Promise Application by March 1, 2012 at Submit the FAFSA by March 1, 2012 WV Residency 5 West Virginia Higher Education Policy Commission

6 PROMISE Scholarship Can attend out-of-state for up to 1 year and come back and regain PROMISE if meets eligibility requirements. Cannot be used outside WV. Community service is highly encouraged. College courses taken in high school do not count toward renewal; but all credits earned starting with the Fall Semester after high school graduation do count. West Virginia Higher Education Policy Commission

7 PROMISE Scholarship Total PROMISE Recipients, Awards, and Average Award Recipients10,3039,8239,5269,3349,456 Awards $38,258,487$39,547,724$40,264,423$42,498,633$45,706,663 Average Award $3,713$4,026$4,227$4,553$4,834 West Virginia Higher Education Policy Commission

8 PROMISE Scholarship Qualification and Yield Rate of High School Seniors High School Seniors Qualified for PROMISE Accepted Award and Enrolled NumberPercentNumberPercent ,9633, %3, % ,4543, %2, % ,5533, %3, % ,8553, %3, % ,5963, %3, % West Virginia Higher Education Policy Commission

9 PROMISE Scholarship PROMISE Scholars Retaining Scholarship First-Year Cohort Received Award 2 nd Fall Received Award 3 rd Fall Received Award 4 th Fall , %63.4%54.3% , %65.1%56.5% , %64.8%56.7% , %64.9%55.2% , %65.9%NA , %NA West Virginia Higher Education Policy Commission

10 PROMISE Scholarship PROMISE Scholars Graduation Rate Initial CohortWithin Four Years Within Five Years Within Six Years All Students PROMISE Recipients All Students PROMISE Recipients All Students PROMISE Recipients All Students PROMISE Recipients 20039,8953, %40.7%42.2%61.5%48.3%67.7% 20049,5732, %40.8%43.1%63.4%49.0%69.7% 20059,6432, %44.3%42.9%64.8%48.4%70.2% 20069,8002, %44.5%40.9%64.0%NA 20079,9252, %41.0%NA West Virginia Higher Education Policy Commission

11 Graduation Rates HEGP vs PROMISE Graduation Rate at 4-year Institutions Initial CohortWithin Four Years Within Five Years Within Six Years HEGP Students PROMISE Students HEGPPROMISEHEGPPROMISEHEGPPROMISE 20031,5703, %40.7%37.9%61.5%46.1%67.7% 20041,4192, %40.8%40.3%63.4%47.4%69.7% 20051,1822, %44.3%44.2%64.8%51.1%70.2% 20061,2812, %44.5%34.7%64.0%NA 20071,4082, %41.0%NA West Virginia Higher Education Policy Commission

12 Graduation Rates HEGP vs PROMISE Graduation Rate at 2-year Institutions Initial CohortWithin Two Years Within Three Years Within Four Years HEGP Students PROMISE Students HEGPPROMISEHEGPPROMISEHEGPPROMISE %21.0%11.4%33.7%15.3%40.2% %19.4%12.6%30.6%17.4%40.7% %23.4%11.5%35.1%16.4%42.0% %14.7%9.9%30.2%14.6%40.9% %24.9%11.3%35.8%NA West Virginia Higher Education Policy Commission

13 PROMISE Scholarship Factors Shown to Increase PROMISE Loss at 4-Year Public Institutions Lower ACT and HS GPA Low SES Attending institution with more racial minority and Pell students, lower tuition Transferring institutions Larger loan amounts Higher net cost (from 2 nd year on) West Virginia Higher Education Policy Commission

14 HEPC website: Rob Anderson, West Virginia Higher Education Policy Commission Contact Information


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