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How Increasing FAFSA Filing Rates Helps Your Students and Institution

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Presentation on theme: "How Increasing FAFSA Filing Rates Helps Your Students and Institution"— Presentation transcript:

1 How Increasing FAFSA Filing Rates Helps Your Students and Institution
Julie D. Wilson Director Financial Aid Laramie County Community College

2 OBJECTIVES The case for increasing filing rates.
Impact on students and your institution. Developing a FAFSA filing campaign. Q&A

3 Benefits to the Institution
Improve institutional Net Price Able to request year over year increases in SEOG and Work Study. Able to develop more targeted institutional scholarships and grants. Able to leverage other federal and state resources for students to pay for college. Able to get a better picture of your students (first generation, income levels, special populations). Improve recruitment, retention, and persistence rates. Participate in federal grants and initiatives. Eligible for federal administrative allowances.

4 Benefits to the Student
Reduce student Net Price Maximize financial aid resources. Improve retention and persistence. Receive focused attention if special population. If there is a financial emergency, appeals can be done more quickly.

5 The Difference to Students
Pell SEOG Work Study Federal Student Loans Federal Parent Loans Hathaway Need

6 Awarding Hathaway Need
EFC HATHAWAY $1680 HATHAWAY $2520 HATHAWAY $3360 $ Hathaway $ Pell Grant $ Hathaway Need $ 8427 Total $ Hathaway $ Hathaway Need $ 9057 Total $ Hathaway $ Hathaway Need $11344 1-5101 $ Pell $ HNeed $ Total $2520 Hathaway $ Pell $ HNeed $ Total $3360 Hathaway $ HNeed $11344 Total $1680 Hathaway $ HNeed $ Total $ HNeed $ Total $ HNeed $ Total or no FAFSA

7 The Difference Real Student Example--Hathaway Need
Without FAFSA Lee comes from a single parent household with her mother earning $26,000 last year. Student also worked while in high school to help with personal expenses. Lee earned the highest level Hathaway of $ This is just enough to pay tuition and fees. Student encouraged to file a FAFSA by our office. Award without the FAFSA, $3,360 With FAFSA Lee received $4565 Pell and $2322 in Hathaway Need as a result of filing a FAFSA. Student will not have to increase her work hours to help with her personal expenses. Award with FAFSA, $10,247.

8 The Difference Real Student Example—Just the FAFSA
Without FAFSA Cole did not file his FAFSA. He applied for and received a $500 scholarship from an outside agency. Cole paid for college using a credit card. Total award $500 With FAFSA Cole filed the FAFSA for Cole earned $5000 last year and is a single parent. Cole was awarded $5815 in Pell Grant and $600 in SEOG for More than enough to cover tuition, fees, books for Total Award $6,415

9 The Difference Real Student Example—Increased Student Resources
Without the FAFSA Allen is new at LCCC this year. He did not file a FAFSA because he received a Hathaway for $2520 and our Dean’s Scholarship $800. He has enough for tuition and fees but will have to pay for his own books. Total award $3,320. With FAFSA At LCCC students receiving an institutional award must file the FAFSA. Allen filed the FAFSA and received a $5765 Pell and $592 Hathaway Need. Allen now has more than enough to pay for tuition, fees, books. Total award $9,677

10 The Difference Real Student Example--Leveraging
Without the FAFSA Jo is a student athlete. The coach thinks she is fantastic and awards a full ride scholarship of $12,306 to cover tuition, fees, books, and housing. Jo is an employee dependent and received a Hathaway. This reduces her athletic award to $7,920. Institutional cost $7,920. With FAFSA Athletic aid is institutional aid and the student must file a FAFSA. Jo files the FAFSA and also receives a full Pell grant of $5815. The athletic award is now reduced to $2105. The coach has $10,201 in his budget to award to another student. Institutional cost $2,105.

11 Developing a FAFSA Filing Campaign
Talk about the FAFSA FIRST Talk about scholarships and grants FIRST Require the FAFSA for all Institutional Scholarships and Grants Include the FAFSA in your enrollment steps.

12 Developing a FAFSA Filing Campaign

13 Developing a FAFSA Filing Campaign
When awarding aid that does not require a FAFSA (GI Bill, Hathaway, Foundation scholarships), tell the student about the FAFSA. Our paragraph states: You may be eligible for additional financial assistance by filing your FAFSA at The FAFSA is required to determine your potential eligibility for Hathaway Need, federal grants, and LCCC grants. The FAFSA is also required if you are receiving any LCCC scholarships (academic or athletic). You may file your FAFSA at If you require assistance, please visit us in the Student Services building.

14 Impact on LCCC: Award More Aid to More Students

15 Impact on LCCC: Develop Targeted Approach with LCCC Dollars
Soaring Eagle Meets direct costs of first gen or non-trad first degree seeking Pell eligible students where the Pell does not cover direct costs (T/F/B) for Wyoming students. LCCC Need In place of SEOG when funds exhausted. Any student below the poverty line. Pell eligible student moving into res hall. Students who just miss the Pell eligibility threshold. LCCC Youth In Transition Replaces loan for foster care, homeless, etc. Pays for on campus housing costs.

16 Impact on LCCC: Hathaway Need Awarding

17 Impact on LCCC: Average Net Price Decreased

18 Impact on LCCC: Net Price by Income
40% Drop for Lowest Income Students

19 Impact on LCCC: Other Have data to back grants and develop programs.
Have not increased our institutional scholarship budget in three of the last four years. Administrative cost allowance for Pell, SEOG, and Work Study. Not a lot of resistance from students and parents. FAFSA filing rate from 37% in 2013AY to 67% in 2015AY.

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21 Thank You! Julie D. Wilson Director Financial Aid Laramie County Community College


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