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Thursday, April 10, 2014 financial aid: Focus on sustainability

Thursday, April 10, 2014 financial aid: Focus on sustainability. For the audio portion, please dial: US/Canada: 866-627-5180 Conference ID: 61736701023 Enter Identity Code Provided (#code#). You have all been muted

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Thursday, April 10, 2014 financial aid: Focus on sustainability

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  1. Thursday, April 10, 2014financial aid: Focus on sustainability

    For the audio portion, please dial: US/Canada: 866-627-5180 Conference ID: 61736701023 Enter Identity Code Provided (#code#)
  2. You have all been muted To join the conversation, just unmute your line by pressing #6. After, you can mute your line by pressing *6 Please do not put your phone on hold; the background music is very disruptive We encourage you to participate by entering questions in the Chat “pod” on the bottom right of your screen You can chat with one or all participants on the call. To send messages to individuals, hover your pointer over that person’s name in the Attendee pod and a menu will appear. Select “Start Private Chat” and a second tab will appear in the Chat pod Etiquette& Learning more about adobe connect
  3. Meet our Guest Mark Mitchell, Vice President, School and Student Services (SSS By NAIS) National Association of Independent Schools
  4. QUALITY
  5. Your school's program Quality of programs Value fit Capacity Reputation Price Multivariate Factors in Enrollment Management Competition Quality of public schools Access to Charter schools Low-cost private schools Other independent schools Community demographics # of school age children Financial capacity for families with school age children Overall financial capacity Cost of Living Source: SAIS Spring Forums 2012, Steve Robinson, SAIS President
  6. Sustainability issues and financial aid
  7. Key Questions What are the philosophy and primary purpose driving our financial aid investment? Does the allocation of our aid dollars align with the stated purpose of the investment? How do we define and measure ‘affordability?’ How much does a family have to earn to afford our tuition for one child? Are there enough families able to pay that? As tuition moves, is income change keeping pace? How much aid investment would truly represent full commitment? What is our capacity for fundraising to make it self-sustaining? How do we work with families to make sure the award decisions are sound and prudent?
  8. What’s the primary goal of the aid investment?
  9. Assessing Financial Aid Outcomes Source: 2012 SSS Leadership Forum participant
  10. 63.7% 51.1% 60.2% 57.5% 55.6%
  11. Defining Affordability Who can afford tuition? Are there enough of them? Assumptions: SSS methodology for the 2014-15 school year, family of four, two parents, two children, no net worth, parents age 45, both work, one earns $50K, NJ residents, no cost-of-living adjustment, no student assets *Source: politicalcalculations.blogspot.com; based on US Census Bureau 2012 income distribution data
  12. Working With Families School’s needs vs. families’ needs Disclosure and trust issues Communication and expectations http://universityschool.wistia.com/medias/ukfbmpa3sv
  13. Disciplined, Rigorous Decisionmaking Primary purpose and goals Divorced, separated, unmarried parents Parents with businesses, rental properties Unemployed parents Home and other real estate equity Retirement plans Unusual household, medical expenses Grandparents and/or others supporting costs Prioritizing with limited funding Noncompliance with requirements
  14. Financial Sustainability Driver: EXCELLENCE Great teachers Motivated peers Character and values Challenge and rigor Safety and community Financial Aid = A Means To An End
  15. Thank you to our guests! Mark Mitchell mitchell@nais.org
  16. Have you completed your jdata forms? Contact Sarah Reid at sreid@brandeis.edu for questions.
  17. Leadership & Fundraising Academy National Generations National Recruitment & Retention Academy National To request information, please go to www.peje.org/interest. Future PEJE Opportunities
  18. What would you like to continue talking about in Google Groups? Title: Message: If you need a reminder about Google Groups, refer to your Quick Guide for Google Groups. For additional assistance, email elana@peje.org. Next Steps: Continuing the conversation
  19. Maximizing Non-Parent Donations Through Market Segmentation Monday, April 28, 2014, 1 pm EDT With Harry Bloom Strategic Use of Admission Data Thursday, May 8, 2014, 1 pm EDT With Rebecca Egolf Market Segmentation: Understanding Your Potential for Recruitment Efforts Thursday, May 29, 2014, 1 pm EDT With Harry Bloom Please RSVP for all webinars by emailing Charles Cohen at charles@peje.org Next Steps:Upcoming calls
  20. Thanks, and have a great Passover!
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