1. Completion Incentive Grant Fund Financial Aid Pilot Program 2012 SHEEO Higher Education Policy Conference Massachusetts Department of Higher Education Meeting | August 9, 2012

2. A Public Agenda for Higher Education in Massachusetts ***** We will produce the best-educated citizenry and workforce in the nation. We will be a national leader in research that drives economic development. ***** The Vision Project: The Vision

3. The Vision Project  College-going rates of high school graduates  Graduate and student success rates  Alignment of degree production with key areas of workforce need  Academic achievements on campus-level and national assessments of learning  Comparable learning outcomes among different student population groups Outcomes

4. Financial Aid Pilot Program When students drop out of college, Massachusetts does not get a full return on its investment, and students are left in debt without a credential. The Problem

5. Can financial aid resources be used in innovative ways to increase student certificate and degree completion rates? The Question

6. Financial Aid Pilot Program  Working Group on Graduation and Student Success Rates  Commissioned background paper on financial aid incentive policies  Recommended that Massachusetts leverage financial aid resources to increase student success  Recommended specialized working group— Financial Aid Policy Advisory Group The Process

7. Financial Aid Pilot Program  Financial Aid Policy Advisory Group Charged to design the framework and guidelines for financial aid pilot program that: ▪ Will increase completion rates for degrees and certificates ▪ Will target low-income students at our public institutions ▪ Is based on evidence-based research ▪ Is scalable The Process

8. Financial Aid Pilot Program  Membership was representative of public college campuses and external stakeholders  Work of the Policy Group was guided by national experts  David Longanecker, President Western Interstate Commission for Higher Education (WICHE)  Brian Prescott, Director of Policy Analysis and Research Western Interstate Commission for Higher Education Policy Advisory Group

9. Financial Aid Pilot Program The Research

10. Financial Aid Pilot Program  Will run from Fall 2012 to Spring 2016  Targets low-income, first-time students ▪ One cohort - comprised of students from 11 colleges and universities representing all segments of public higher education ▪ 3,500 students randomly divided into two groups, Control and Treatment The Outcome Completion Incentive Grant Fund

11.  $3 million dollar annual projected expenditure  2,000 maximum grant per year  $8,000 over four-year period  Students may earn incentive during summer if annual maximum award was not received during traditional fall & spring semesters How Will It Work

12. Completion Incentive Grant Fund  Students must: Earn 9–15 credits per semester with minimum GPA of 2.0 Maintain continuous enrollment up to four years Sign annual contract of understanding Utilize campus support services How Will It Work?

13.  Students will receive incentive grants in increments of $100 per credit each semester as follows:  15 credits in a semester = $1000  12 credits in a semester = $700 ▪ 4-year students must complete a minimum of 12 credits to receive the incentive  9 credits in a semester = $400 How Will It Work? Completion Incentive Grant Fund

14.  Institutions must: Agree to program guidelines Provide students with array of academic support services Report institutional data as required  Program will be evaluated:  Quantitative and Qualitative How Will It Work?

15. Completion Incentive Grant Fund Evaluation will begin with the initial year of the pilot:  Quantitative Evaluation  Internal  External Evaluator  Qualitative Analysis  External Evaluator Program Evaluation

16. Completion Incentive Grant Fund The analysis/evaluation of the pilot will focus on the following questions:  What effect does the CIGF pilot have on the rates at which students accumulate college level credit, the rate at which they persist, transfer, and complete degrees and certificates?  How do these rates differ for students by race/ethnicity, sex, age, first generation status, income, level of academic preparation, among other characteristics?  To what extent does participating in the pilot affect student financial aid packages and their choices about how to finance their education (especially the balance between grants, work and loans)? Evaluation

17. Questions