The Role of the Financial Aid Office in Campus Retention Efforts

1. The Role of the Financial Aid Officein Campus Retention Efforts Presented by Bonnie Weaver

2. Agenda for today’s session • Some common definitions. • Who, exactly, is at risk of dropping out? • The role of data in retention efforts. • What data can Financial Aid add to the discussion? • What do institutions do that puts students at risk? • What impact does quality service have? • How do we communicate our successes?

3. Retention words • P, P, R, C • Persistence • Term to term • Progression • Course success • Retention • Return rate from Fall to Fall • Completion • Is it the same as graduation? P+P=R P+P+R=C

4. Defining Success on your campus • What are some of the additional measures of success used on your campus? • IPEDS GRS-Data Collection • SAP-Student Academic Progress • Transfer rates • Satisfaction surveys

5. Which students are at risk? • If your Dean asked you this question: • “What students do you feel are most likely to be unsuccessful on our campus?” • What would you say? • What risk factors would you list?

6. Academic • Underprepared • Limited academic skills • Poor study habits • Doesn’t see value in course • Poor academic performance • Part-time course load • Lack of career and educational goals • Feedback that is too little too late • Life Issues • Financial difficulty • Job conflicts • Home-family difficulties • Personal problems • Health problems • College not necessary for career goals • Social • Alienation and social isolation • Subject to negative peer pressure • Uninvolved in college activities • Little involvement with faculty • Personal • Lost • Stressed • Closed to new ideas/experiences • Low self-esteem • Undisciplined • Unmotivated • Insecure • Uninformed • Unrealistic expectations • Student-institution mismatch

7. Why data mining? • When you have data, you take assumptions off the table. • You can find out what students think about you if you ask them—while they’re still enrolled. • Data can help you prioritize your interventions. • Creating a sense of urgency to act without data is a challenge unto itself. • It’s impossible to sustain momentum without data to support your successes.

8. What Data does Financial Aid Offer?

9. Institutional risk factor • What do we do that puts students at risk? • Institutional • Experience scheduling problems • Experience administrative/billing problems • Experience negative attitude in classroom/advising • Experience poor teaching • Academic program not available • Get the “campus run around” • Get no assistance during probation

10. Delivering Quality Service in Financial Aid • What are some of the most frequently heard student complaints about the Financial Aid Office? • How could we measure whether we are doing better in these areas?

11. Some Reasons For The Knowledge/Performance Gap 1. Busy/rushed/overworked. 2. Poor Listening skills. 3. The “Law of Familiarity”-using words they don’t know. 4. Reaction to student. 5. Service system problems (e.g., policies). 6. Failure to identify individual needs/situation. 7. Lack empowerment. • Personal distractions.

12. How can we communicate our success? • What measures of • Processing • Dollars • Students served • Quality Service could we provide to our retention committee?

13. What can Financial Aid offer? • We have lots of data that could inform the retention effort. • Share it! • We have great successes to highlight in managing complex systems delivered to large populations. • Count it, measure it, and publish it! • We have budgeting expertise. • Deliver it to campus programs and to students! • We have quality service delivery and information that can contribute to student satisfaction. • Commit to it, model it, and bring it to the retention table!

14. Thank you! Bonnie Weaver Debt Management Consultant, USA Funds 866-497-8723 x5698 Bonnie.weaver@usafunds.org