1. Beyond Aid Packages – Financial Aid and Enrollment Management
Georgette R. DeVeres
Claremont McKenna College

2. Goals of Today’s Discussion
Examine the role of financial aid in the “Big Picture”
Review the financial aid administrator’s role in enrollment management
Discuss resource opportunities
Review campus environment and challenges

3. What is the Big Picture? National Landscape Hot Topics Challenges
External
Internal
Hot Topics
Challenges

4. National Landscape K-12 Higher Education Common Challenges
academic preparation
Higher Education
costs and affordability
Common Challenges
resources

5. K-12 Academic Preparation-External
Early Outreach Programs
ABC
AVID
National Programs
Upward Bound
Talent Search
Community Based Organizations
Questbridge

6. Higher Education Climate
“In the current climate of rising college prices and budget constraints at all levels of government, it is particularly important that the benefits of higher education receive as much attention as the costs.”
Gaston Caperton
President
The College Board
October, 2004

7. Higher Education-External
Costs and affordability
universal challenges
rising tuition
limited federal and state resources
equitable distribution of financial aid dollars
Accountability
outcomes
graduation and retention rates
Other national priorities
national economy, homeland security, social security, other?

8. Financial Aid Research
College Board, Trends in College Pricing 2015

9. Net Price – Two-Year Institutions
College Board, Trends in College Pricing 2015

10. Net Price Public Four-Year Institutions
College Board, Trends in College Pricing 2015

11. Net Price Non-Profit Four-Year Institutions
College Board, Trends in College Pricing 2015

12. Other Higher Education-Issues
changing demographics
diversity
affirmative action
socio-economic
merit scholarships
competitive financial aid packaging
ease of application process
presidential election

13. Institutional Challenges - Internal
Know, support and understand campus mission and goals
What is the Financial Aid Office role?
Is there a campus strategic plan?
Competing institutional priorities
faculty
technology
campus facilities
Institutional aid budget – if one?
Strategic use of financial aid funds
marketing & recruitment
retention and graduation

14. Institutional Challenges - Internal
Competitive financial aid packaging
merit scholarships
racial and socio-economic diversity – percentage receiving Pell Grants
More students on financial aid
same or less financial aid staff
new skill requirements
technology
effective communication
Other?

15. Financial Aid Administrator Challenges
Project and coordinate internal and outside financial aid resources
Meet student aid (federal, state & institutional) budget targets
Comply with external and internal regulations and guidelines
Manage and lead staff
Identify and coordinate with other campus departments
Advocate for students and resources

16. What about Enrollment Management?
“We must reject the idea that enrollment management is a function of admissions. It is a function of the entire campus community, in which financial aid plays an integral and strategic role.”
Stephen Clemente
Senior Vice President, Nelnet NASFAA, Student Aid Transcript-Volume 15, No. 3, 2004

17. Campus Environment What is the management structure?
Where is the financial aid voice?
Where does the Financial Office report?
Student Affairs, Business Affairs, Admission?
What is the Financial Aid Office role?

18. Campus Environment
Do you know your competition and factors that influence student decisions?
Do you understand why students come to your college or university?
Do you continually analyze financial aid yield data in an effort to optimize certain enrollment goals?
Other Institutional research?
Do you offer all students and their families, even those not eligible for financial aid, specific financial counseling?

19. Campus Environment
How do you involve faculty, alumni, and students in the recruitment and enrollment process?
Do you financial aid policies hinder or support the recruitment and retention goals of your college or university?
SAP, housing policies, self-help packaging thresholds, graduation rates, student debt other?
How closely do your work with your Advancement or Development offices?

20. Financial Aid Administrator Environment
“Aid administrators often feel torn between the various roles they are forced to play: on one hand they are key members of their institution’s management team and actually are employed by that entity. On the other hand, they are responsible for being the fiduciary agent for outside public funds that often impose restrictions and rules that an institution would rather ignore.”
NASFAA Research Committee

21. Campus Environment
You must continually evaluate the external and internal environments to effectively answer these questions.
You must draw from this to build upon understanding the “Big Picture”
How do the answers to these questions relate to your institution’s strategic plan, mission and goals?

22. Campus Environment Using Resources Effectively
Doing more with less
Consolidation of campus programs
Establishing articulation or coordinating joint programs with other institutions
Maximize use professional association resources
Utilizing student resources

23. Student Resources Technology Research Publications
web enhancements
other effective communication processes
Research
information overload
conduct studies
Publications
Office staff members
student privacy issues
Other examples?

24. Changing Environment
“Institutions need to consolidate programs, refocus their missions, and develop new initiatives that respond to changing clientele and priorities.”
NASFAA Research Committee

25. Other Resource Opportunities
Identify office functions that benefit other departments and share costs and resources
Admission, Business, IT offices
Outsourcing
Know when to discontinue outdated or ineffective functions

26. How can we better tell our story?
Financial Aid Office is central to the college or university when meeting:
marketing
recruitment
enrollment
retention
graduation

27. How can we better tell our story?
The Financial Aid Office plays a significant role in contributing to institutional financial resources:
providing financial aid resources
Student aid dollars – federal, state, private (revenue center)
impact on net-student tuition revenue
supports student employment opportunities
provide access

28. How can we better tell our story?
Stop working in our silos and learn about other campus departments
Expand and develop new skills
technology
financial forecasting
other?
Continually seek and find ways to effectively convey how financial aid impacts the “Big Picture”
Continue to expand your personal knowledge within and outside the financial aid field.

29. How can we better tell our story?
Continue to participate in professional development opportunities like, WASFAA and NASFAA
Seek other professional association involvement opportunities (i.e., The College Board, NACUBO, NACAC, others?)
Do not be seen as a problem, but as a vital contributor to the solution
Seen as a team player

30. Financial Aid Challenges!
“Education in our offices must be two-tiered. First, we must provide added value to the services we offer our students and families. Second, we must simultaneously help to sharpen the skills of our staff.”
Stephen Clemente, Senior Vice President, Nelnet NASFAA, Student Aid Transcript
Volume 15, No. 3, 2004

31. Summary
As aid administrators, we must educate our staff on the nuances that govern our field and show how we are apart of the bigger picture that enables students to achieve their life-long educational goals, dreams and objectives.

32. Publications
Student Aid Transcript, Volume 15, No. 3, 2004, NASFAA –
Trends in Student Aid 2015, Trends in Higher Education Series
Trends in College Pricing 2015,Trends in Higher Education Series
Education Pays 2004, Trends in Higher Education Series