Financial Aid Saves the world!

1. Financial Aid Saves the world!

2. Gini Index • Gini index measures the extent to which the distribution of income among individuals deviates from a perfectly equal distribution. A Gini index of 0 represents perfect equality, while an index of 100 implies perfect inequality (one person has all the wealth). • The USA Gini index has been increasing.

4. Education to Lifts People out of Poverty

5. How was financial aid invented? • http://www.finaid.org/educators/history.phtml • 1643 scholarship established by Lady Anne Radcliffe Mowlson at Harvard • 1840 first loan program Harvard • 1867 Creation of U.S. Department of Education • 1944 GI Bill • 1954 College Scholarship Service created • Then something happened that scared the USA into action

6. Russians Launched Sputnik in October 4, 1957

7. 1958 The National Defense Student Loan Program (NDSL), the first federal student loan for low-income students

8. 1972 • the Basic Educational Opportunity Grant (origin of the Pell Grant, first federal need analysis formula). Maximum grant was initially $452. • Federal matching grants were established as an incentive for states to create state student grants. • Educational Opportunity Grant was renamed Supplemental Educational Opportunity Grant (SEOG). • Student Loan Marketing Association (Sallie Mae) was established as a Government-Sponsored Enterprise (GSE).

9. 1974 • National Task Force on Student Aid Problems develops Uniform Methodology (UM)

10. 1980 • BEOG was renamed Pell Grants after Senator Claiborne Pell of Rhode Island • PLUSLoans were established.

11. 1986 The federal government gave financial aid administrators broad discretion through "professional judgment".

12. 1992 The FAFSA was required to be free and added the Direct Lending pilot project was started

13. 1994 Creation of FINAID Website by Mark Kantrowitz http://www.finaid.org

14. 1997 FAFSA on the Web (fafsa.ed.gov) in 1997-1998, the online version of the Free Application for Federal Student Aid, leads to significant shift from paper applications to electronic applications.

15. 2004 Sallie Mae completes privatization and Lumina Foundation is created. http://www.luminafoundation.org/ Lumina Foundation is the nation’s largest private foundation focused solely on increasing Americans’ success in higher education Goal 2025: 60% College Attainment by 2025

16. Education to Lifts People out of Poverty

20. Skills needed by financial aid staff • Likes to help people • Likes to talk to people • Likes details • Likes to organize procedures • What other skills do you need?

21. Make sure your bosses know how important you are • Know the data for your institution • Know how your data compares to other institutions • Create trend reports • What else can you do?

22. Data is important • http://studentaid.ed.gov/data-center Student Aid Data Federal financial assistance is provided to students and families through various loan and grant programs authorized under Title IV of the Higher Education Act of 1965, as amended. These reports will help you understand more information about Title IV aid applicants, recipients, and disbursements. • Application Volume Reports • Title IV Program Volume by School • Federal Student Loan Portfolio • Default Rates

23. Another data source • http://nces.ed.gov/ipeds/deltacostproject/ • Here you will find a longitudinal database derived from IPEDS finance, enrollment, staffing, completions and student aid data for academic years 1986-87 through 2009-10. These data have been translated into analytical formats to allow for longitudinal analyses of trends in postsecondary education with a focus on revenues and expenditures. • Each zipped file includes the updated 1987-1999 and 2000-2010 database files along with the data dictionary, data mapping file, and program code to create value labels.

24. MN Office of Higher Education Data • http://www.ohe.state.mn.us/mPg.cfm?pageID=410 • Higher Education Accountability • College Readiness & Participation Data • Student Enrollment Data • Degrees, Graduation Rates & Educational Attainment • Financial Aid Data & TrendsFinancial Aid at a Glance • Minnesota Financial Aid Programs • Federal Financial Aid Data • Tuition & Fees Data • Institution and Data Search

25. College Board • http://trends.collegeboard.org/ • Trends in College Financing • Trends in Student Aid • Education Pays

26. SOURCE: The College Board, Trends in Student Aid 2012, Figure 1. Ten-Year Trend in Student Aid and Nonfederal Loans per Full-Time Equivalent (FTE) in 2011 Dollars, 2001-02 to 2011-12

27. SOURCE: The College Board, Trends in Student Aid 2012, Figure 2A. Undergraduate Student Aid by Source and Type (in Billions), 2011-12

28. SOURCE: The College Board, Trends in Student Aid 2012, Figure 4A. Grants and Loans as a Percentage of Funds from Total Aid and Nonfederal Loans for Undergraduate Students, 1991-92 to 2011-12

29. SOURCE: The College Board, Trends in Student Aid 2012, Figure 5. Growth of Federal, Institutional, Private and Employer, and State Grant Dollars in 2011 Dollars, 1991-92 to 2011-12

31. Update your resume • Demographics many offices started in about 1970 (43 years ago) so many directors have or will be retiring. • Evolution of the learning delivery system • Develop your reputation • Volunteer • Give presentations • Write articles • Mentor

32. Financial Aid Staff create peace on earth! • Reduction of economic disparity • Education gives tools other than violence • Helping low income families pay for education helps low-income and non-low-income people meet • Every low-income person who can get a better job lifts not only that person, but all in the family who follow, out of poverty for the future.

33. Thanks for all that you do! Cheryl Maplethorpe Cherl.Kay.Maplethorpe@gmail.com