Financial Aid Leveraging, Analysis, and the Plan Going Forward - - PowerPoint PPT Presentation
Financial Aid Leveraging, Analysis, and the Plan Going Forward Faculty Meeting April 14, 2016 Distribution of Freshmen by High Need and High Ability 2012-2015 2008-2011 3,136 total freshmen 2,742 total freshmen High Ability High Ability
Middle 1,805 66% High Need 587 21% High Ability 350 13%
2,742 total freshmen
Middle 1,839 59% High Need 771 24% High Ability 526 17%
3,136 total freshmen
Middle 34 8% High Need 184 47% High Ability 176 45%
Increase of 394
21,700 22,750 24,000 25,200 26,950 28,320 29,582 31,040 32,250 33,480 34,760 36,160 12,638 13,371 13,999 14,591 15,555 15,598 16,128 16,682 17,087 17,233 17,196 16,866 10,000 15,000 20,000 25,000 30,000 35,000 40,000 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Tuition/fees What Families Pay (net tuition)
+4.8% +5.8%
Recession Effects
+5.5% +5.0% +6.9% +5.1% +4.5% +4.9% +3.9% +3.8% +3.8% +4.0% +6.6%
+4.7% +4.2% +0.3% +3.4% +3.4% +2.4% +0.9%
2,313 2,733 3,016 3,202 3,241 1,606 1,483 1,635 1,964 2,055 59.0% 64.8% 64.8% 62.0% 61.2%
0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 1,000 2,000 3,000 4,000 5,000 6,000
2011 2012 2013 2014 2015 FAFSA Filers Non-Filers % Filed 3,919 4,216 4,651 5,166 5,296
1,606 1,483 1,635 1,964 2,055 42 26 42 30 30 2.6% 1.8% 2.6% 1.5% 1.5% 0.0% 1.0% 2.0% 500 1,000 1,500 2,000 2,500 2011 2012 2013 2014 2015
Non-Filers Enrolled Yield
2,313 2,733 3,016 3,202 3,241 637 697 789 674 695 27.5% 25.5% 26.1% 21.0% 21.4% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 500 1,000 1,500 2,000 2,500 3,000 3,500 2011 2012 2013 2014 2015
FAFSA Filers Enrolled Yield
EFC Range
1 to 1,490 1,491 to 4,335 4,336 to 7,814 7,815 to 12,098 12,099 to 17,808 17,809 to 24,170 24,171 to 33,284 33,285 to 55,041 55,042 to 999,999
Average Gross Income
19,000 31,000 53,000 73,000 92,300 112,300 126,100 148,600 171,200 250,000
Average GPA Average ACT 1st 2nd 3rd 4th 5th 6th 7th 8th 9th 10th 3.25 22 1st 3.57 24 2nd 3.77 26 3rd 3.97 28 4th 4.20 31 5th
Expected Family Contribution (EFC) – all FAFSA filers grouped into 10 deciles. Chart includes only FAFSA filers who received a financial aid package. Academic Ability – weighted GPA and test scores combined, grouped into 5 quintiles RED – cell with the neediest, lowest ability students GREEN – cell with the wealthiest, highest ability students Cell contents – enrolled of number admitted, yield, discount
1st
$19,000
2nd
$31,000
3rd
$53,000
4th
$73,000
5th
$92,300
6th
$112,300
7th
$126,100
8th
$148,600
9th
$171,200
10th
$250,000
1st
3.25 22 64 of 285 Y 22 % D 61% 17 of 101 Y 17% D 63% 28 of 155 Y 18% D 63% 29 of 136 Y 21% D 66% 22 of 103 Y 21% D 62% 34 of 104 Y 33% D 57% 13 of 81 Y 16% D 48% 10 of 78 Y 13% D 42% 15 of 98 Y 15% D 32% 13 of 75 Y 17% D 17%
2nd
3.57 24 48 of 182 Y 26 % D 61% 20 of 90 Y 22% D 62% 30 of 142 Y 21 % D 66% 28 of 112 Y 25% D 67% 25 of 106 Y 24% D 67% 18 of 110 Y 16% D 60% 24 of 123 Y 20% D 55% 16 of 95 Y 17% D 52% 15 of 97 Y 15% D 44% 16 of 75 Y 15% D 36%
3rd
3.77 26 41 of 164 Y 25 % D 65% 23 of 93 Y 25% D 65% 35 of 115 Y 30% D 67% 20 of 124 Y 16% D 69% 25 of 141 Y 18% D 67% 33 of 129 Y 26% D 62% 24 of 119 Y 20% D 59% 26 of 130 Y 20% D 56% 32 of 139 Y 23% D 50% 31 of 75 Y 25% D 45%
4th
3.97 28 10 of 91 Y 11 % D 65% 16 of 74 Y 22% D 66% 23 of 130 Y 18% D 69% 23 of 116 Y 20% D 71% 25 of 124 Y 20% D 69% 32 of 141 Y 23% D 66% 24 of 135 Y 18% D 62% 19 of 138 Y 14% D 58% 27 of 144 Y 19% D 53% 21 of 75 Y 14% D 48%
5th
4.20 31 18 of 70 Y 26% D 68% 10 of 37 Y 27% D 70% 15 of 87 Y 17% D 73% 24 of 115 Y 21% D 73% 23 of 132 Y 17% D 71% 29 of 138 Y 21% D 68% 27 of 156 Y 17% D 67% 28 of 160 Y 18% D 64% 42 of 190 Y 22% D 63% 29 of 75 Y 17% D 60%
7 9 13 6 2 4 6 8 10 12 14
less than 50% 50% to 55% 55% to 59% 60% and over
Number of Schools by discount range
Valpo
Schools 25 total State ACT Schools 25 total State ACT Belmont University TN 26.5 University of Scranton* PA 24.5 VALPO IN 26.2 Wagner College NY 24.5 Ohio Northern University OH 26.0 California Lutheran University CA 24.0 University of Evansville* IN 26.0 Hamline University* MN 24.0 Samford University* AL 25.5
TX 24.0 Arcadia University PA 25.0 University of La Verne CA 22.5 Drury University MO 25.0 University of New Haven CT 22.5 Manhattan College NY 25.0 Widener University PA 22.5 Pacific Lutheran University WA 25.0 Hampton University VA 20.5 University of Redlands* CA 25.0 Nazareth College NY n/a Westminster College UT 25.0 Roger Williams University RI n/a John Carroll University* OH 24.5 Sage Colleges NY n/a North Central College IL 24.5 *board-approved peer school list Data from College Scorecard, College Xpress, and Peterson's Guide
Schools 25 total State Out of State Schools 25 total State Out of State Roger Williams University RI 82% Manhattan College NY 29% Hampton University VA 78% Hamline University* MN 21% Belmont University TN 66% Pacific Lutheran University WA 21% Samford University* AL 65% California Lutheran University CA 19% University of New Haven CT 61% University of Redlands* CA 19% University of Scranton* PA 60% Drury University MO 15% VALPO IN 59% Ohio Northern University OH 13% Wagner College NY 54%
TX 12% University of Evansville* IN 46% Sage Colleges NY 9% Arcadia University PA 43% Nazareth College NY 7% Widener University PA 40% North Central College IL 7% Westminster College UT 38% University of La Verne CA 4% John Carroll University* OH 31% *board-approved peer school list Data from College Scorecard, College Xpress, and Peterson's Guide
Schools 25 total State Ethnic Diversity comments Schools 25 total State Ethnic Diversity
Hampton University VA 96%
93% Afr. Am.
University of New Haven CT 19% University of La Verne CA 63%
48% Hispanic North Central College
IL 17%
TX 47%
37% Hispanic Westminster College
UT 17% University of Redlands* CA 41%
26% Hispanic Belmont University
TN 16% California Lutheran University CA 40%
25% Hispanic Samford University*
AL 16% Manhattan College NY 28%
18% Hispanic University of Scranton*
PA 15% Sage Colleges NY 28% Nazareth College NY 14% Widener University PA 26% John Carroll University* OH 12% Arcadia University PA 25% Drury University MO 11% Hamline University* MN 24% Ohio Northern University OH 11% Pacific Lutheran University WA 24% Roger Williams University RI 10% Wagner College NY 21% University of Evansville* IN 10% VALPO IN 19%
*board-approved peer school list Data from College Scorecard, College Xpress, and Peterson's Guide
Fall 2016 Enrollment Fall 2017 Enrollment July 2015 – March 2016 prospective students submit applications. July 2016 – March 2017 prospective students submit applications. September 2015 – April 2016 – rolling
admission and academic scholarship September 2016 – April 2017 – rolling
admission and academic scholarship January – March 2016 – families file FAFSA October 2016 to March 2017 – families file FAFSA (change in timing) February – April 2016 – financial aid award letters sent December 2016 – April 2017 – financial aid award letters sent (change in timing) May 1, 2016 – students deposit to indicate intent to enroll in the fall May 1, 2017 – students deposit to indicate intent to enroll in the fall Note: this chart represents the typical time frame, but can be extended into the summer for late applicants
Quintile Middle GPA Middle ACT 2014 2015 2016
3.25 22 $10,000* $15,000*
3.57 24 $12,000 $11,000 $14,000 $13,000 $18,000 $17,500
3.77 26 $15,000 $14,500 $17,000 $16,500 $19,000
3.97 28 $16,000 $15,500 $18,000 $17,500 $20,000
4.20 31 $19,000 $18,000 $20,500 $19,500 $21,000 $20,500 *top third of quintile