Minnesota Office of Higher Education Meredith Fergus 03/13/2014 Minnesota Senate Higher Education and Workforce Committee

2 OHE Updates 1.State Grant Projected Balance 2.Getting Prepared / SLEDS 3.Institutional Participation in State Student Aid Programs Report

3 Projected Balance November 15, 2013 $9.125 million February 15, 2014 $ million March 10, 2014 $ million State Grant

4 State Grant Projections Formulated using a series of adjustments. Step 1: Base spending ( Applicant Data ) Step 2: Income changes ( MMB ) Step 3: Federal Need analysis ( U.S. Dept of Ed ) Step 4: Pell Grant change ( U.S. Dept of Ed ) Step 5: Tuition increases ( Institutions ) Step 6: Enrollment weighting ( Institutions ) Step 7: Verification & vetting ( Cash Flow Reports )

5 Current State Grant Projection

6 Getting Prepared / SLEDS Joint project of higher education, K-12 education and MN.IT Report planned for 2013 but delayed due to data issues First official report from SLEDS Significantly expands the information provided as compared to the 2010 report Target Date: March 31, 2014

7 Getting Prepared / SLEDS

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9 Part of SLEDS development is to allow the use of the latest mobile analytics technology allowing students, parents and policymakers to interact with data across years, schools and colleges; Available fall 2014

10 Institutional Participation in State Student Aid Programs 2013 Session Laws, Chapter 99, Article 2, Sec. 26. Report on available and appropriate data to be used as statutory criteria to determine whether a higher education institution should be allowed to participate in state financial aid programs. Among other data, the data could include: an institution's completion/graduation rates, student debt to income ratios, and Employment rates related to field of study. Report is available online

11 Rationale To more efficiently use state dollars to achieve state goals Identifying Priorities Ensure access Ensure affordability Ensuring quality of educational programs as measured by student success Institutional Participation in State Student Aid Programs

12 Priority 1: Access Enrollment of target groups: Lower income students, including Pell Grant and State Grant recipients Students of color Students age 25 or older > suggested additions: Transfer students, Non-Metro/Rural students Priority 2: Affordability Affordability for students can be measured by the following metrics: Average net price paid by lower-income students Annual borrowing rate and amount borrowed Cumulative debt of graduates Institutional Participation in State Student Aid Programs

13 Priority 3: Student Success Student success is a key component in measuring the quality of educational programs Facilitating Student Completion Retention / Persistence Rates Graduation / Completion Rates Post-Enrollment Outcomes Graduate School Enrollment Rate Employment / Job Placement / Wage Rates Return on Investment Loan Default Rates Debt to Earnings Ratios Institutional Participation in State Student Aid Programs

14 Next Steps for OHE Confirm state priorities & form a stakeholder working group 1.Finalize metrics; Metrics should recognize the diversity of institutions 2.Gather additional data 3.Identify high performing institutions 4.Engage in discovery 5.Develop recommendations for legislative action and investment Align with other state policies and investments Institutional Participation in State Student Aid Programs

15 Minnesota Measures 2014 Now available online Interactive infographic

16 Questions?? Meredith Fergus Minnesota Office of Higher Education