1. Financial Aid Office and Enrollment Management: Together for Student Success at Public Institutions
Sandra Oerly-Bennett
Janet Fike
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2. Goals and Strategies Align with the Mission, Vision and Strategic Plan at a 4 year institution
Mission - As a land-grant institution in the 21st century, WVU will deliver high-quality education, excel in discovery and innovation, model a culture of diversity and inclusion, promote health and vitality, and build pathways for the exchange of knowledge and opportunity between the state, the nation, and the world.
Vision - By 2020, WVU will attain national research prominence, thereby enhancing educational achievement, global engagement, diversity, and the vitality and well-being of the people of West Virginia.
2020 Strategic Plan –
Goal 1 - Engage undergraduate, graduate, and professional students in a challenging academic environment.
Goal 2 - Excel in research, creative activity, and innovation in all disciplines.
Goal 3 - Foster diversity and an inclusive culture.
Goal 4 - Advance international activity and global engagement.
Goal 5 - Enhance the well-being and the quality of life of the people of West Virginia.
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3. Goals and Strategies Align with the Mission, Vision and Strategic Plan at a 2 year institution
Mission -. West Virginia Northern Community College’s mission is to educate and empower individuals to achieve academic and career goals, leading to a highly skilled, well-rounded, and accomplished workforce which successfully competes and adapts in a global economy. The College responds to the needs of the region it serves by offering a high-quality learning environment that is accessible, safe, and accommodating while nurturing teamwork and community service.
Vision -West Virginia Northern Community College is recognized and admired for being a community of learners who model integrity, mutual respect, and a commitment to excellence. The College purposefully strives to:
Empower students to be successful
Achieve continued growth
Respect diversity
Be responsive and adaptive
Value personal growth and development
Be fiscally responsible
Be entrepreneurial whether in the classroom or online, and
Enhance partnerships and community service
Master Plan of WV CTCS–
Goal 1 – Improve the success of students by increasing college completion
Goal 2 – Meet with workforce demands of employers and enhance economic development efforts in WV
Goal 3 – Provide access to affordable community and technical college education in all regions of the state
Goal 4 – Ensure fiscal stability to effectively deliver comprehensive community and technical college education.
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4. Enrollment and Student Success at a 4 yr institution
A campus-wide responsibility; Financial Aid Office is only one of many integral parts
Contributes to optimal enrollment for net tuition revenue
Net Tuition Revenue = Gross Tuition Revenue- Institutional Aid
Tuition Discount Rate = Institutional Aid / Gross Tuition & Fee Revenue
Ensures positive experiences throughout the entire student cycle
Improves retention and graduation rates
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5. Enrollment and Student Success at a 2 yr institution
A campus-wide responsibility; Financial Aid Office is only one of many integral parts
Contributes to optimal enrollment to meet projected budgeting
Balanced budget with tuition and fees meeting tuition by residency and program
Use of scholarship dollars for maximum student enrollment, recruitment and outreach and use of scholarship funds
Ensures positive experiences throughout the entire student cycle
Improves retention and graduation rates
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6. Access and Affordability at a 4 yr institution
35 percent of college costs are covered by grants and scholarships, more than any
other source of funding.*
87 percent of families who use scholarships get them from the college.*
39 percent of families do not have a financial plan to pay for college even though
86 percent knew their child would go to college.*
*How America Pays for College 2017, Sallie Mae, Inc.
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7. Access and Affordability at 2 yr institution
Over 70 percent of families use grants and scholarships more than any other source of funding to cover college costs
Limit student loan borrowing to reduce default and student debt upon graduation
Manage textbook costs
Manage upfront costs for items such as nursing uniforms, culinary arts knives, etc
Financial planning for students due to delayed disbursements at many community colleges
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8. Merit versus Need Aid Determines the balance of funds.
Merit Aid – 4yr Need-based Aid – 4 yr
Builds the academic profile Creates access
Shapes reputation of institution Demonstrated through
Attracts high achievers/ federal formula
strong performers
Merit Aid – 2yr Need-based Aid – 2 yr
Full use of funds Creates access
Use for recruitment of institution Demonstrated through
Attracts high achievers/ federal formula
strong performers Helps with summer enrollment
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9. Financial aid policy interaction
Work with student, faculty and staff on verifying attendance and remind student attendance in class is needed for continued Pell funds for part of term classes and for academic success
Monitor gainful employment programs for enrollment, reporting and disclosure
R2T4 processing consistency with NSLDS reporting
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10. Leveraging at a 4 yr school
Analyzes data for confirmation of, or changes to, institutional financial aid strategies
Provide packages that yield the optimal student mix
Close gaps between costs and resources that may prevent students from persisting
Meet net tuition revenue goals
* Green, Tom. “Leveraging Financial Aid: A Powerful Tool for Enrollment Success. “ AACRAO Consulting.
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11. Leveraging at a 2 yr school
Analyzes data for confirmation of, or changes to, financial aid scholarship and HEAPS funds
Provide packages timing
Show benefit of costs and resources that may encourage students to attend based on program as terminal degree and program as transfer to 4 yr school
Explain value of long term reduced costs
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12. Compliance and Flexibility
Takes the lead in ensuring compliance with federal and state regulations in order to award Title IV and state funds.
Avoids audit findings or non-compliance as the institution would be in jeopardy of fines, sanctions and loss of participation in programs.
Be creative within boundaries of compliance for the common good.
Accommodates unique situations by thinking outside the box.
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13. Communication
Shares knowledge of proposed regulations to collectively assess the impact on students and the institution
Distributes data to appropriate offices for collaboration and decision making
Alerts other offices timely when change effects operations
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14. Outreach
Actively engages beyond the office to the student body, campus community, public and state.
Financial aid awareness – promotes the availability of funds to help students finance their educational dreams
Financial literacy – ensures that students have the tools necessary to formulate solid, basic money management skills promoting a life of financial wellness
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15. Service
Streamlines processes for efficiency and effectiveness using technology
Empowers staff through professional development
Inspires confidence and trust through accuracy
Engages in transparent and collaborative relationships between student service offices to enhance the quality of the student experience
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16. Conclusion
A successful Financial Aid Office can and does positively influence enrollment and student success, but we are only one piece of the equation.
It takes everyone, every day, every call, every meeting, every interaction, etc. putting the students first to make an impact.
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17. Discussion and Questions
Thank you!
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