University Business - November/December 2011 - (Page 28)

When Employed Students Stumble and thus an improvement in completion rates is certainly an attractive idea,” but the “data just isn’t all that convincing,” says Kantrowitz. “Advising students to increase debt (as opposed to directly advising them to work less and enroll full-time) might not be effective in improving completion rates.” In addition, there’s a risk that students will borrow too much. “It’s probably true that if community college people borrowed more, they’d probably see a modest increase in graduation rates,” says Richard Vedder, an Ohio State economist who runs the Center for College Affordability and Productivity. But some will borrow and still not graduate, ending up with more debt and no degree. “Community college students are in much more precarious financial positions” than four-year students, Vedder warns. “The consequences of failure are substantial.” Community colleges disproportionately attract low- and moderate-income students: 29 percent have annual household incomes less than $20,000. Some 30 percent are minorities; the number of Latinos is growing rapidly. Low-income, first-generation students are “terrified of loans because we see how trapped our parents are by debt,” says Isa Adney, a student life coordinator at Seminole State College (Fla.) The first in her family to go to college, Adney chose community college over private college to avoid borrowing, then won a scholarship to fund her bachelor’s degree. “I often advise students to think about college loans as an investment” that will help them “make so much more money in the long run than they will in their minimum-wage jobs.” Helping Students Access Financial Aid At one time, eAch of connecticut’s 12 community colleges rAn its own financial aid office by its own rules. ten years later, the Connecticut Community College System has doubled the number of students. now all 12 colleges use fAfsA alone to determine eligibility. All use the same “satisfactory academic progress” requirement for students who receive aid and those who don’t. simplifying eligibility rules and centralizing some functions freed financial aid staffers to focus on helping students instead of pushing paper, marc herzog, the former chancellor, told the college Board. centralizing administrative and technical responsibilities saved $2 million and improved efficiency. other ways community colleges can help students access financial aid and use it wisely: • Reach out to students. the aim is to “assertively communicate,” says Judith scott-clayton of the community college research center. “there’s an assumption that if the information is online, students have it, but they may not know to look for it.” • Simplify the formula for eligibility. this is so important because few colleges have enough people to provide one-on-one counseling, scottclayton says. • Be available to students. As Debbie cochrane of the institute for college Access and success (ticAs) points out, “many colleges don’t make it easy to get answers.” the financial aid office can’t run on a 9-to-5 schedule. too many students are only on campus at night. • Don’t wait for students to ask about FAFSA. “the financial Aid challenge,” a college Board report, suggests that schools make filling out the form a normal part of the enrollment process. (Note: it can’t be required because undocumented students, previous loan defaulters, and those convicted of drug crimes aren’t eligible.) several states have launched campaigns to publicize financial aid options. the college Board cites california’s “i can Afford college” campaign and the college foundation of north carolina, which increased the fAfsA filing rate by more than 50 percent. tennessee and Arkansas publicize college aid through the state lottery, which is used to fund scholarships. Applicants are required to fill out fAfsA. • Participate in the federal loan program. without access to these funds, some students will turn to high-cost private loans. • Tell students how much they could get in Pell Grants and loans. At some colleges, financial aid staffers encourage full-time enrollment by telling students how much aid they could get if they take more courses, cochrane says. Northern Virginia Community College goes even further, offering scholarship assistance to select at-risk students who enroll full time and remain in good academic standing. • Work with community groups to reach out to prospective students. for example, college goal sunday mobilizes volunteers to hold one-day financial aid workshops that include fAfsA help. in immigrant neighborhoods, some students and parents are reluctant to fill out government forms. community Qualifying for Aid Community college students aren’t just wary of borrowing. They’re less likely to fill out the Free Application for Federal Student Aid (FAFSA), which qualifies students for both loans and Pell Grants. Community college students are leaving millions of dollars in federal financial aid on the table each year, says Cochrane. About 58 percent of Pell-eligible community college students filled out FAFSA in 2007-2008 compared to nearly 77 percent of eligible students at public four-year institutions. Some students say they didn’t realize they were eligible for aid. Others don’t make it through the paperwork, Cochrane says. In a study of California community colleges, one third of eligible students never got a Pell Grant because they didn’t bring in additional documentation. Whether students get financial aid can also depend on their college’s attitude, concluded a 2007 TICAS study, “Green Lights & Red Tape: Improving Access to Financial Aid at California’s Community Colleges.” The unofficial motto at one school’s financial aid office is “When in doubt, give it out,” while an aid director at another school said, “We are the police officers of Title 28 | November/December 2011 IV funds.” Ten percent of community college students—more than one million students—are enrolled in colleges that don’t participate in the federal loan program. College officials worry students will borrow too much and fear federal sanctions if students default. But without access universitybusiness.com http://www.universitybusiness.com

Table of Contents for the Digital Edition of University Business - November/December 2011

University Business - November/December 2011
Contents
Editor's Note
College Index
Ad Index
Behind the News
Financial Aid
Viewpoint
Education Gateways
Models of Efficiency
Business Intelligence Gets Smarter
Internet Technology
Independent Outlook
End Note

University Business - November/December 2011

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