1. Presented By: Shelley Monnig Cam Thies Financial Readiness Our First Year- Lessons Learned!

2. HistoryObjective New Payment Policies Financial Readiness Requirements New Payment Options Implementation What worked well Areas for Future Improvement Results

3. Limited Payment Options Track down students Students began classes without payment Hold placed on future registration Suspended meal plans Reactive Financial Policies

4. Ensure students are financially ready before beginning classes, allowing them to focus on reaching their educational goals Increase payment options Proactive Financial Policies

5. July 22- Financial Aid Paperwork Deadline- students required to have all financial aid paperwork completed to avoid removal of state and federal aid August 2- Payment Due Date- registration cancelled for any student not considered financially ready November 15- Any student who failed to satisfy payment arrangements will be administratively withdrawn.

6.   Admission Application Completed   Official Transcripts Received   Enrollment Deposit Paid   FAFSA Received   Institutional Aid Confirmed   Loan Paperwork Completed (if applicable)   Financial Aid Package Complete   Contract for Payment Submitted   Payment Plan set or Payment-in-full received

7. Outsourced Payment Plans Offered Alternative Payment Plan option for those unable to sign up for extenuating circumstances International Student Wire Plan

8. Communication – Campus Wide Effort Marketing to students Coach/Director and Admission Counselor Involvement

9. More payment plan options Eagle Days – Freshman Orientation Day Less financial aid documents received after start of semester Office Coordination Well informed students

10. Increase campus-wide awareness Alternative ways of communication Reevaluate timing of deadlines Additional group sessions

11. August 2 nd - 16% of enrolled students were not considered financially ready August 16 th - 6% of enrolled students were not considered financially ready August 20 th - cancelled 5 students; 2 of these students became financially ready and re-enrolled 43% decrease in outstanding receivables for Fall at end of September Currently- less than 1% of our student population is at risk of administrative withdrawal on November 15

13. What are your current payment policies? Do you cancel a large # of students each semester? What works best for your school? What is not working well for your school? How are you managing extended campus financial readiness? (Offsite locations/Online) How are you contacting your students with important news? What has worked best?

14. Cam Thies Collection Manager Collection Manager athies@centralmethodist.edu athies@centralmethodist.eduathies@centralmethodist.edu 660-248-6205 660-248-6205 Shelley Monnig Business Services Manager Business Services Manager smonnig@centralmethodist.edu smonnig@centralmethodist.edusmonnig@centralmethodist.edu 660-248-6202 660-248-6202