of Financial Aid
Imagine this: you're committed to helping students financially. You give first priority to the neediest students, but you want every student with need to get aid. You administer a myriad of programs amidst a dizzying array of changing regulations. Sixteen financial aid advisers need to talk with thousands of students. How do you meet increasing student needs in a dynamic environment with limited resources? If you're David Cook, director of Financial Aid and what you're trying to do is "eliminate the lack of money as a barrier to education," you continually look for ways to improve service.
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David Cook, director
of Financial Aid |
Over the past five years, the number of student financial aid applications has doubled. Curently, about nine thousand of the fourteen thousand Chico State students receive financial aid. Educational loans alone have gone from about $8 million five years ago to $40 million today.
To deal with this onslaught of needs, financial aid has turned to technology. Students can use the new Web server for some tasks, such as pre-loan certification. Starting next year, there will be no financial aid arena. No more standing in arena lines. Students' checks will be electronically deposited, unless there is a hold on the check. Once a hold is cleared, checks will be mailed to the student, causing a one-or- two day delay. Cook is concerned about this short delay and about the possibility that some students might not alert financial aid of a change in address. However, he says, "we're driven to it. We're swamped."
The increased use of technology allows more staff more time to help more students. By moving many need analysts' tasks to computer, they were able to become financial aid advisers. While sixteen advisers are still not enough for the thousands of students needing services, it is an improvement.
Helping students with the greatest need is one of Cook's highest priorities. Educational Opportunity Program (EOP) grants are targeted to high need, educationally disadvantaged students. Michele Vanderjack was a Latina single parent in her thirties when she received the EOP grant that helped her complete college. Now she monitors those same grants as a financial aid adviser. Vanderjack "wanted to help students get through college, particularly students that don't generally make it through college." She's getting to do that now.
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Michelle Vanderjack, Financial Aid
adviser (photos KM) |
State allocations of EOP funds haven't changed in many years, but Chico State now has more EOP students. Hard choices have to be made every year. Because EOP students are more likely to remain in school if they live in residence halls their first year, freshmen are most likely to receive EOP grants. Because students are more likely to graduate if they stay in school their first two years, additional available funds go to sophomores.
Vanderjack emphasized the ability of advisers to exercise professional judgment within regulatory guidelines. For example, financial aid awards are based on the previous year's income. If a student experiences a major change in income, such as the loss of a parent or the loss of a job, advisers can often use the new information as a basis for the award.
The regulatory guidelines change. This year the federal Higher Education Act will be reauthorized. While no one knows yet what specific regulatory changes will occur, every one knows they will impact federal financial aid implementation. Some of the areas of current debate include the interest rate for loans, the number of years a student can receive a PELL grant, and which year's information to include when considering family income and assets.
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| Gary Thomas, Financial Aid adviser |
Each grant and loan program has its own regulations. One of the more restrictive programs is the athletic scholarship program that begins next year. While all grants require record keeping and some tracking of academic achievement, this one requires more than most. The program will help coaches recruit athletes but is a small part of the overall financial aid picture, according to adviser Craig Nielsen.
Adviser Gary Thomas believes the overall effect of regulatory review is positive. "What we have is an education-friendly president and administration. Their emphasis is on simplification of the process for both the student and the administrator." Thomas believes the changes will "help us focus more on serving the students rather than serving the regulations," a welcome improvement. If he had the time, he would like to be able to help each student fill out the financial aid forms, rather than having to review errors later.
The continual struggle to see as many students as possible and to be fast, accurate, and responsible pays off when a student tells Thomas, "For four years you've helped me. I'm graduating and I couldn't have made it without you." Thomas said he attends graduations because, "I love seeing students walk across the stage and hearing their names, knowing I was able to make a difference in their lives."
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