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OSFA 2015 Summer Workshops

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Sarah Mealey

on 22 June 2015

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Transcript of OSFA 2015 Summer Workshops

June 23, 2015
Massachusetts Bay Community College
June 24, 2015
College of the Holy Cross
Financial Aid Workshop
Agenda
8:30 AM - 9:00 AM

9:00 AM - 9:15 AM

9:15 AM - 9:45 AM



9:45 AM - 10:45 AM


10:45 AM - 11:00 AM

11:00 AM - 12:30 PM


12:30 PM - 1:30 PM

1:30 PM - 3:00 PM
Presenters
Clantha McCurdy


Robert Brun

Alison Connolly


Oliver McArdle
Senior Deputy Commissioner

Associate Commissioner

Assistant Director - Student Loan Programs

Senior Program Manager
About the
Department of
Higher Education

1. COLLEGE PARTICIPATION

2. COLLEGE COMPLETION

3. STUDENT LEARNING

4. WORKFORCE ALIGNMENT

5. PREPARING CITIZENS

6. CLOSING
ACHIEVEMENT GAPS

7. RESEARCH
Our Year
in Review

FY 2016 Budget
General Scholarship - 7070-0065
Adopted and Foster Fee Assistance - 7066-0016
Foster Child Grant - 7066-0016
Registration & Continental Breakfast

Welcome & Introductions

DHE Update
Policies & Legislative Update
OSFA Year in Review

State Financial Aid
Programs Review

Break

Financial Aid
Programs Review (Continued)

Lunch

No Interest Loan Program Review
House Ways and Means $95,607,756
Senate Ways and Means $93,607,756
Project $93,607,756
House Ways and Means $3,924,842
Senate Ways and Means $4,274,842
Project $4,274,842
House Ways and Means $1,075,299
Senate Ways and Means $1,075,299
Project $1,075,299
High Demand Scholarship - 7066-0016
House Ways and Means $1,000,000
Senate Ways and Means $0
Project $0
Integration with DHE Website
MassAid System
State Financial Aid Awarded
FY15 State Scholarships =
Over 80,000 recipients: $96 million
(
+4%
from FY14)
Includes FY15 MASSGrant Awards=
54,000 recipients: $41 million
(
+7%
from FY14)

FY15 Completion Incentive Grants:
1,000 recipients: $1 million

(
-22%
from FY14)
Students
Enrollments
FY15 total figures not yet available;

generally +30% from fall
Fall 2014 Community Colleges =
96,888
(
-3%
from fall 2013)
Fall 2014 State Universities = 51,799 (
flat
since fall 2013)
Degrees & Certificates Awarded
FY15 total figures not yet available;
some growth from FY14 anticipated due to substancial enrollment increases over 2007-2010
FY14 Community Colleges = 14,706 (
+7%
from FY13)
FY14 State Universities = 11,137 (
+2%
from FY13)
John and Abigail Adams Scholarship
Analysis and Evaluation of Program
Response to Legislative Mandate
Highlight of finding will be presented to Joint Committee of Education
May result in policy changes to include a financial stipend, in addition to the current tuition waiver
Incentive Based Financial Aid Policy
The Problem
When students drop out of college, Massachusetts does not get a full return on its investment
The Question
Can financial aid resources be used in innovative ways to increase student certificate and degree completion rates?
Completion Incentive Grant Fund Pilot
Implemented
Fall 2012 - ends Spring 2016
Targets
low-income, first-time students
$2,000 maximum grant per year
$8,000 per student over four years

Students must:
Earn
9-15 credits
per semester with
minimum GPA of 2.0
Maintain
continuous enrollment
up to four years
Sign
annual contract
of understanding
Utilize campus
support services

Annual evaluation conducted by DHE and outside evaluators
Eleven participating colleges and universities
Goal is to use program results to inform Massachusetts State Financial Aid Policy
Result may impact the future of financial aid policy in Massachusetts
Major interest in this study which would place Massachusetts as a leader in incentive policies for financial aid
Policies and
Legislative Update
Full transcript