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State Update . Fall 2010 Raleigh, North Carolina Steven E. Brooks Executive Director North Carolina State Education Assistance Authority. State Grants and Scholarships Update. Record year 2008-09: State grants, scholarships, and scholarship-loans $369 million + 31\% Awards made

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state update

State Update

Fall 2010

Raleigh, North Carolina

Steven E. Brooks

Executive Director

North Carolina State Education Assistance Authority

state grants and scholarships update
State Grants and Scholarships Update

Record year 2008-09:

  • State grants, scholarships, and scholarship-loans

$369 million + 31%

  • Awards made

196,000 +21%

state grants and scholarships update1
State Grants and Scholarships Update

State Budget Issues:

  • Phase outs of three existing programs
    • EARN ends fall 2009 (eligible for loans)
    • FTNC ends spring 2010 (eligible for PTSL)
    • NCSSM ends spring 2010
state grants and scholarships update2
State Grants and Scholarships Update

Major Aid Program Budgets for 09-10:

  • Community College Grant 13.9 million
  • UNC Need Based Grant 139.4 million
  • NCLTG 55.5 million
  • SCSF 44.0 million
  • Education Lottery Scholarship 40.0 million*
  • NCSIG 5.9 million
state grants and scholarships update3
State Grants and Scholarships Update

Major Aid Budgets for 10-11 (Continuation Budget):

    • Community College Grant 13.9 million
    • UNC Need Based Grant 116.4 million
          • (-$23 million)
    • NCLTG 55.5 million
    • SCSF 44.0 million
    • Lottery Scholarship 40.0 million (receipts)
    • NCSIG 5.9 million
  • Conflicting aid start-up and legislative calendars
  • Escheat Fund also at issue
legislative study committee
Legislative Study Committee

How best to use State funds…availability and sustainability

How best to administer State funded student aid

Current governance of NCSEAA

Feasibility of consolidating scholarship, loan and grant programs for North Carolinians for which FAFSA is required

Feasibility of consolidating loans, grants and scholarships for teacher education students

Qualifications for each loan, scholarship and grant administered by NCSEAA, purpose for which the aid is awarded; what makes it similar or unique

Marketing strategies for grants, loans and scholarships to be more transparent, understandable and accessible

outreach and training report new financial aid administrator training
Outreach and Training Report -New Financial Aid Administrator Training

Cumulative through October 2009  – 495 participants (since first training in 2003)

34 newly trained in October 2009

Next “New” FAA Training will be in the spring of 2010 – March – exact dates will be announced soon 

Thanks to Jane Kanipe and to NCSEAA and NCASFAA professionals for the curriculum and the training

Thanks to CFI for providing the welcoming site

outreach and training report fafsa day
Outreach and Training Report - FAFSA DAY

Thank You, NCASFAA!!

  • February 2009
    • 66 sites across the state – 60 counties
    • Over 750 volunteers
    • Over 4,500 students and families
  • February 2010
    • 97 counties across North Carolina
    • Thanks to State Employees Credit Union - SECU
    • SEAA will train SECU staff “volunteers”
      • 7 days in Dec./Jan. for “Training the Trainers”
      • SECU staff we train will then train additional SECU staff
      • Expect to have a “FAFSA Day Central” phone bank for questions volunteers cannot answer
training and outreach report high school counselor workshops
Training and Outreach Report – High School Counselor Workshops
  • NCSEAA/College Board
    • Annual Financial Aid Training
    • 415 counselors at 4 workshops
  • NCSEAA/CFNC
    • Annual Financial Aid Training
    • 130 counselors at 2 workshops
  • Davidson College/NCSEAA – “Financial Aid 101”
    • 300 counselors at 5 workshops

Thanks to Robbie Schultz and SEAA staff

cfnc statistics
CFNC Statistics
  • College going rate compared to other states
    • In 1999, as CFNC was launched, North Carolina ranked 38th, at 21.3%, below the national average of 27.7%, in college participation rate of low income students
    • In 2008, North Carolina ranked 22nd, at 26.2%, above national average of 25.7%, in college participation rate of low income students
    • From 1999-2008, college enrollment of low income students in North Carolina increased by 4.9 percentage points, while nationally their enrollment actually decreased by 2.0 percentage points
cfnc statistics1
CFNC Statistics

CFNC free user accounts created:

YearAnnualCumulative

06-07 429,768 1,663,108

07-08 491,163 2,154,271

08-09 571,247 2,725,518

cfnc statistics2
CFNC Statistics

Visitor count and duration of visits on CFNC website:

YearUnique DailyAverage Visit

VisitorsDuration

06-07 8,062 11.5 minutes

07-08 10, 393 13 minutes

08-09 11,343 12 minutes

cfnc statistics3
CFNC Statistics

Number of college applications filed using CFNC:

YearApplications for Admission

06-07 249,692

07-08 309,482

08-09 396,940

cfnc statistics4
CFNC Statistics

Number of high school transcripts sent to colleges:

YearTranscripts Submitted

06-07 13,932

07-08 40,872

08-09 60,042

cfnc statistics5
CFNC Statistics

Awareness of the service among parents and students:

YearPrompted Awareness Percentages

2001 students: 33%

2002 students: 83%

2004 students: 84%

parents: 81%

2006 students: 93%

parents: 88%

cfnc statistics6
CFNC Statistics

Attendance at special events:

YearFAFSA Day

06-07 3,076 students, 559 volunteers, 52 sites

07-08 3,600 students, 650 volunteers, 56 sites

08-09 4,500 students, 750 volunteers, 65 sites

YearCollege Admissions Week

06-07 1,038 applications, 876 students,

15 high schools

07-08 21,445 applications, 12,808 students,

109 high schools

08-09 37,903 applications, 19,356 students,

293 high schools

cfnc statistics7
CFNC Statistics

Outreach visits to middle and high schools:

YearVisits and Presentations

06-07 2,821 visits/presentations

07-08 2,764 visits/presentations

08-09 2,740 visits/presentations

Calls and emails to the CFNC Call Center in Raleigh:

YearCalls and Emails Received

06-07 112,436 calls

07-08 135,044 calls; 12,964 emails

08-09 156,241 calls; 13,496 emails

cfnc statistics8
CFNC Statistics

Increases in applications/enrollments of needy students:

YearNC FAFSAsPell Grant Recipients

06-07 224,302 139,904

07-08 236,492 147,629

08-09 274,318 not yet available

529 savings program update
529 Savings Program Update
  • Investments exceeded $500 million on October 19
  • 71,222 accounts as of October 26, 2009
    • 18.1% increase since October 31, 2008
  • 13 investment options available:
    • 3 age-based;10 individual funds
    • 11 Vanguard funds; 2 North Carolina Managers
        • NCM Capital Management
        • NC State Treasurer
  • North Carolina state tax deductible contributions
    • $5,000 on joint return; $2,500 individual
    • No income limit
slide24
Cohort Default Rates

About 915 additional borrowers per year would default if our rate were only the national average!

YearSEAA RateNational Average

impact of potential federal legislation on north carolina
Impact of Potential Federal Legislation on North Carolina
  • What has the FFEL Program Paid for in North Carolina?
    • Loans
      • higher level of service/default prevention
      • lower prices for borrowers
    • Grant Administration – all state grants at SEAA and CFI
    • Saving Administration – NC 529 Program
    • Outreach
      • CFNC web and telephone services
      • FAA and Counselor Training
      • Counselor Internships
      • FAFSA Day
      • And more
an uncertain future change is inevitable except from vending machines

An uncertain future:Change is inevitable…except from vending machines

Your State agency and non-profit expect to to be here for you and your students

Advice: be ready for Direct Lending for next year in case it is forced upon you

Request: keep your FFEL powder dry in case you do get a choice

can support the State’s services

while helping your borrowers

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