Financial Aid Update - September 2015 Highlights
Financial Aid Update
September 2015
1
Table of Contents
2
Financial Aid Responsibilities
3
Financial Aid Programs
4
Financial Aid Programs
5
*
*FAFSA’S received as of August 17
th
, 2015
Financial Aid Programs
6
*Number of students not meeting Satisfactory Academic Progress (SAP) standards
*Long processing time frames
** Students Paid as of August 17, 2015
**
Financial Aid Challenges
New Financial Aid Director started May 27
th
, 2014
•
The Financial Aid Office was without a director for approximately one year
Inherited Challenges
•
Staffing
o
Training
o
Hiring of staff - Secretary and Coordinator
•
File processing times –
Improved
•
Outdated policy and procedures –
Resolved
o
Procedures Manual – Last Updated in 2012
o
Reconciliation
o
1040 Forms/Tax Transcripts
o
Academic Program Declared
o
District Liability – R2T4
7
Financial Aid Accomplishments
Financial Aid Computer Lab – Opened October 2014
•
Additional resource to assist students in completing their financial aid application online
•
Approximately 1800 students served
Increased number of informational workshops
•
20 Workshops offered in Spring 2015
•
Financial Aid Awareness Fair
o
Approximately 600 students attended
Staffing
•
Hired 3 new staff members
•
Office closes early on Friday’s to hold staff trainings
Implemented Auto-packager
Electronic Notifications – The Financial Aid Office is going Paperless
•
Notifications are sent to student’s college email address
•
Social Media
•
Improved communication with students
8
Improved file processing times
•
Students are receiving their financial aid quicker
•
First disbursement for Fall 2014
•
437 students paid
•
Approximately $532,000 Federal Pell Grant
•
First disbursement for Fall 2015
•
2122 students paid
•
Approximately $1.8 million Federal Pell Grant
Financial Aid Accomplishments
9
Auto-packager is working!
Financial Aid Accomplishments
10
We have seen a
474
%
increase in the number
of files processed for
2015/2016
Questions?
11
Financial Aid Update presentation by Amber Gallagher, Director of Financial Aid, covering responsibilities, programs, challenges, and accomplishments in September 2015. Includes details on FAFSA data, student payments, challenges faced, and accomplishments achieved.
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Presentation Transcript
1 Financial Aid Update September 2015 Presented by Amber Gallagher, Director of Financial Aid
Table of Contents 2 1. Financial Aid Responsibilities 2. Financial Aid Programs 3. Financial Aid Challenges 4. Financial Aid Accomplishments 5. Questions
Financial Aid Responsibilities 3 Our goal is to help students achieve their educational goals by providing eligible students with financial assistance Educate students, parents and the community about financial aid Stay current on all federal and state regulations Assist students with completing the financial aid process
Financial Aid Programs 5 35,000 30,851 30,790 30,543 30,000 27,836 * 25,000 24,116 24,098 20,000 15,000 10,000 5,000 0 FAFSAS RECEIVED 2010-2011 2011-2012 2012-2013 2013-2014 2014-2015 2015-2016 *FAFSA S received as of August 17th, 2015
Financial Aid Programs 6 7,000 6,065 6,000 6,030 6,013 5,573 4,848* 5,000 4,000 3,000 ** 2122 2,000 1,000 0 STUDENTS PAID 2010-2011 2011-2012 2012-2013 2013-2014 2014-2015 2015-2016** *Number of students not meeting Satisfactory Academic Progress (SAP) standards *Long processing time frames ** Students Paid as of August 17, 2015
Financial Aid Challenges 7 New Financial Aid Director started May 27th, 2014 The Financial Aid Office was without a director for approximately one year Inherited Challenges Staffing o Training o Hiring of staff - Secretary and Coordinator File processing times Improved Outdated policy and procedures Resolved o Procedures Manual Last Updated in 2012 o Reconciliation o 1040 Forms/Tax Transcripts o Academic Program Declared o District Liability R2T4
Financial Aid Accomplishments 8 Financial Aid Computer Lab Opened October 2014 Additional resource to assist students in completing their financial aid application online Approximately 1800 students served Increased number of informational workshops 20 Workshops offered in Spring 2015 Financial Aid Awareness Fair o Approximately 600 students attended Staffing Hired 3 new staff members Office closes early on Friday s to hold staff trainings Implemented Auto-packager Electronic Notifications The Financial Aid Office is going Paperless Notifications are sent to student s college email address Social Media Improved communication with students
Financial Aid Accomplishments 9 Improved file processing times Students are receiving their financial aid quicker First disbursement for Fall 2014 437 students paid Approximately $532,000 Federal Pell Grant First disbursement for Fall 2015 2122 students paid Approximately $1.8 million Federal Pell Grant Auto-packager is working!
Financial Aid Accomplishments 10 7,000 6,876 6,000 5,000 We have seen a 474% increase in the number of files processed for 2015/2016 4,000 3,000 1,450 2,000 1,000 0 FILES PROCESSED August 17, 2014 August 17, 2015
Questions? 11
