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V ASFAA Spring Conference 2012

V ASFAA Spring Conference 2012. Realigning Resources to Better Recruit and Retain a Diverse Student Body. May 23rd, 2012 Norfolk, VA Presented by: Mike O’Grady, Financial Aid Services. Definitions.  Non-Traditional  First Generation Veterans Disabilities  Other.

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V ASFAA Spring Conference 2012

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  1. VASFAA Spring Conference 2012 Realigning Resources to Better Recruit and Retain a Diverse Student Body May 23rd, 2012 Norfolk, VA Presented by:Mike O’Grady, Financial Aid Services

  2. Definitions •  Non-Traditional •  First Generation • Veterans • Disabilities •  Other SASFAA Annual Conference - 2012

  3. The New Pipeline % that have a college degree • Non-Hispanic white population will increase by 10.2 million by 2020 • African-American population will increase by 9.5 million by 2020 • Hispanic populationwill increase by 24.1 million • 31.1 % • 17.6 % • 12.6 % Source: Lumina Foundation VASFAA Spring Conference - 2012

  4. Perfect Storm  Decreasing traditional college bound population  Worst economy since the Depression  Budget freezes on all levels  One out of four homeowners is in a negative equity position or no equity position  Filling seats from a new demographic VASFAA Springl Conference - 2012

  5. Iceberg Cometh-No Global Warming in Higher Education Unknown Resources FISAP Reported Known Resources Certified Loans Home equity Savings/Stocks/410K’s Other Resources Unknown VASFAA Spring l Conference - 2012

  6. Traditional Recruitment Funnel award letter • P • R • E • - • F • U • N • N • E • L FAFSA Early Funnel Mid Funnel Late Funnel Entering Class Application trends affect conversions rates

  7. Recruitment Funnels and Filters P I P E L I N E “Other” Melt E N R O L L E D Early Funnel Mid Funnel Late Funnel G R A D U A T E Multicultural Early Funnel Mid Funnel Late Funnel Traditional Early Funnel Mid Funnel Late Funnel Multifarious Momentums

  8. Retention Funnel Recruiting students that don’t matriculate is extremely expensive and is a “lose-lose” proposition. A D M I T T E D G R A D U A T E S A L U M N I Sophomores Freshmen Juniors Seniors SASFAA Annual Conference - 2012

  9. Managing Default Rates • Students are terribly misinformed about their future debt obligations and income potential. • Institutional default rate management is most effective when schools still have control over their students post-graduate plans. • The future of delinquency management is going to be pre-emptive.

  10. Model of Communication Sender Encoder Decoder Receiver SASFAA Annual Conference - 2012

  11. Secret Sauce- Leveraging Technology • Transfer work-load to where interpersonal skills are needed • Reduce rote tasks • 24/7 • Institution can become bilingual • Consistent brand management • Mitigates budget cuts • Go Green • Use analytics as your GPS for default management SASFAA Annual Conference - 2012

  12. “The Medium is the Message”… Marshal McLuhan  Snail Mail  Direct Mail  Phone  Internet  Campus Visits  E-Mail  Facebook  My Space  Twitter  Net Price Calculator SASFAA Annual Conference - 2012

  13. Staying Afloat  Diversify your staff - age, sex, and ethnicity  Technology, Technology, Technology  Leverage resources from the Department of Ed  Benchmark with your peers constantly  Acquire cross-cultural training SASFAA Annual Conference - 2012

  14. Staying Afloat • Get a new hat rack—you will be wearing many hats • Set your sights on moving up the food chain • You are the admissions office and student affairs • Co-source or outsource routine tasks • America’s core competency depends on you VASFAA Springl Conference - 2012

  15. College “Culture Shock” & Veteran’s PTSD/I Awareness • Introduced by 1954 by Kalvervo Oberg •  Normally a student blames his or her “financial aid” as the reason for leaving school. •  Difficulty in assimilating to new culture and environment •  Anxiety, disorientation, uncertainty, confusion •  Phases: Honeymoon Phase-Negotiation Phase--Adjustment Phase (things become “normal”)-Reverse Culture Shock SASFAA Annual Conference - 2012

  16. Veterans and Post Traumatic Stress Disorder/Injury (PTSD/I) • One in five veterans will experience re-entry issues or possibly PTSD/I • Approximately 200,000 women served in Afghanistan and Iraq • 23% to 33% of women veterans report experiencing “MST” of which 42% will acquire PTSD VASFAA SPRING Conference - 2012

  17. Veterans and Post Traumatic Stress Disorder/Injury (PTSD/I) • Re-entry issues for veterans often result in alcohol abuse, drug abuse, family or marital problems or suicide • Symptoms of PTSD may include anger and irritability, “spacey stare,” short attention span, confusion, trouble sleeping, and “self-medicating.” • What is your SAP policy regarding PTSD? VASFAA SPRINGl Conference - 2012

  18. Internal Champions/Task Force Veterans Affairs Financial Aid Admissions Student Accounts Psychological Services Multicultural Affairs SASFAA Annual Conference - 2012

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