financial aid
Hold the Hand that Feeds You
With university financial aid offices at maximum capacity, now is the time to apply a “concierge” approach in building a relationship with prospective students and retaining existing ones. Similar to other institutions, even in the for-profit world, financial aid, admissions and alumni relations are often run independently, with each department working diligently against their own goals. Now that financial aid is more at the forefront of the admissions process, it is critical to ensure student touch points reinforce the university brand personality as well as drive action and deepen the relationship. This is even more challenging today as there is a growing disparity between applicants and actual enrollees. Educating students on the financial aid process is an example of how a higher education institution may have a competitive advantage. For example, taking such steps as being the first institution to alert both prospective as well as current students of upcoming application deadlines and reminding them of the required supporting documentation could determine who chooses your school over another.
Emerging controversy? Penalties and Incentives for College Completion
So, what do college students and college graduates think about the idea of financial aid being contingent on prompt degree completion? Jonathan Leirer of the Center for College Affordability and Productivity thinks we should eliminate funding to undergraduate students after four years of full time equivalent attendance. As a tactic to motivate completion, we are skeptical. So we thought we’d find out more. Our panel of participants was quick to weigh in, and you get to hear exactly what they told us.
