917 Lakeridge Way Southwest Olympia, Washington 98504

360.753.7800 wsac.wa.gov

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Title Student Financial Aid and Support Update

Staff lead Rachelle Sharpe Becky Thompson

Position Deputy Director Student Financial Aid Director

Email rachelles@wsac.wa.gov beckyt@wsac.wa.gov

Phone 360.753.7872 360.753.7840

Synopsis

The Council will receive an update on the primary financial aid programs, including State Need Grant and College Bound Scholarship. Recent data related to student borrowing will be included. In addition, staff will share a brief overview related to FAFSA filing and outreach efforts.

Guiding questions

How does the information help improve understanding of the financial aid metrics within the affordability framework? Does the data reveal areas in need of attention that might be appropriate for inclusion in the 2017 strategic action plan?

Possible council action Information/Discussion Approve/Adopt Other:

Documents and attachments Brief/Report PowerPoint Third-party materials Other

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Communications Update2015 Highlights

Aaron Wyatt & Emily Persky| Council Meeting| August 2015

Student Financial Aid & Access

Rachelle Sharpe, PhD Becky ThompsonDeputy Director Student Financial Aid Director

Council Meeting

February 10, 2016

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Evaluating financial aid is an important part of the Affordability Framework

Paying for postsecondary education has three major components.

CostsInclude tuition and fees, books, room and board, etc.

Aid The system by which some costs are reduced or waived, lowering total cost for recipients.

Student OptionsStudents then have to decide how to pay for their net costs, the cost remaining after any aid is applied. They can work, borrow, attend part-time, choose different institutions, etc.

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57%21%

18%

5%

2014-15 Total Aid by Source

Federal State Institutional Other

63%

36%

1%

2014-15 Total Aid by Type

Grants/Scholarship Loans Work

Washington Student Achievement Council. Unit Record Report, 2014-15. [WA resident undergraduate need-based recipients]. R:KL

Nearly $2 Billion in Aid Serving Washington Undergraduates

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Portion of Total Dollars by Aid Type Varies by Income

11%

29%

1%

9%

30%

34%

39%

14%

39%

32%

25%

24%

7%

1%

1%

1%

2%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

MFI > 90

MFI 51-90

MFI 0-50

Portion of Financial Aid by MFI 2013-14

Federal Grants State Grants Institutional/Other Grants Student Loans Parent PLUS Loans Work Study

Washington Student Achievement Council. Unit Record Report, 2013-14. [WA resident undergraduate full-time full year need-based recipients]. R:KL

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Student Borrowing Increased During the Recession

$4,900

$7,300

$4,400

$7,100 $7,200 $7,900

$2,800

$5,600

2007-08 2014-15

Resident Undergraduate Borrowers with Need

Research Comprehensive Private Four-Year CTC

Washington Student Achievement Council. Unit Record Report, 2007-08 & 2014-15. [WA resident undergraduate need-based recipients, PLUS loans excluded]. R:KL

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2014-15 Student and Parent Borrowing

Total Average Annual Amount Students

Resident Undergraduates $631 Million $6,800 93,400

Parent PLUS (Res. UG) $142 Million $13,300 10,700

Private Loans (Res. UG) $33 Million $10,600 3,100

Graduate Level $439 Million $25,100 17,500

Parent and Private Loans and Graduate Students

Washington Student Achievement Council. Annual Unit Record Report, 2014-15. R:KL

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WSAC Final Interim Report, 2007-08 to 2014-15. Unserved data for 2012-13 through 2014-15 reflect coordination policy in the 2015 operating budget. R:KL

Although enrollments have declined in the two-year sector, total eligible students remain high.

70,085

72,511

70,376

72,338

74,703

73,985

70,109

71,059

1,601

5,518

21,951

28,795

30,966

31,045

31,413

27,193

0 20,000 40,000 60,000 80,000 100,000

2007-08

2008-09

2009-10

2010-11

2011-12

2012-13

2013-14

2014-15

State Need Grant Service Levels

SNG Served SNG Unserved*

Unserved Student Trend Continues

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WSAC Final Interim Report, 2007-08 to 2014-15. Unserved data for 2012-13 through 2014-15 reflect coordination policy in the 2015 operating budget. R:KL

Although enrollments have declined in the two-year sector, total eligible students remain high.

70,085

72,511

70,376

72,338

74,703

73,985

70,109

71,059

1,601

5,518

21,951

28,795

30,966

31,045

31,413

27,193

0 20,000 40,000 60,000 80,000 100,000

2007-08

2008-09

2009-10

2010-11

2011-12

2012-13

2013-14

2014-15

State Need Grant Service Levels

SNG Served SNG Unserved*

College Bound recipients were 12% of the total State Need Grant eligible population in 2014-15

Unserved Student Trend Continues

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36%

16%

25%

19%

13%

17%

11%

8%

6%

34%

60%

51%

1%

3%

1%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

SNG Funds

SNG Recipients

SNG Unserved

State Need Grant Service by Sector 2014-15

Research Comprehensive Private Four-Year CTC Private Career

Dollars are Tied to Award Amounts and Enrollments

Washington Student Achievement Council. Final Interim Report 2014-15. R:KL

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State Need Grant students are from nearly every region of the state

State Need Grant (SNG) Eligible Students in 2014-15

Eligible Student Count

Washington Student Achievement Council. Final Interim Report 2014-15 and FAFSA. Note: Data are arranged by student’s permanent address zip code.

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2012 2013 2014 2015 2016 2017 2018 2019CBS Applicants 15,947 16,070 20,903 23,398 25,272 28,980 32,211 33,147Eligible Non-Applicants 12,146 12,530 8,953 7,151 6,651 7,414 3,997 3,440

0

5,000

10,000

15,000

20,000

25,000

30,000

35,000

57% 56%

70%

77%79%

80%

89% 91%

CBS Sign-Ups Continue to Increase

Source: Washington Student Achievement Council CBS Applicant Data and Annual Press Release, October 2015. OSPI State Report Card (2006-07 to 2012-13). R:KL

Applications up 34 percentage points over seven years.

As of January 2016, over 227,000 students have applied.

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75%

76%

79%

62%

60%

60%

77%

76%

77%

2014

2013

2012

Statewide average Other low-income CBS

Source: OSPI staff analysis of WSAC CBS applicant data. R:KL

CBS High School Graduation Rates

Graduation rates for CBS students are at least ten percentage points higher than those of their non-CBS low-income peers.

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37%

28%

17%

16%

13%

7%

32%

47%

1%

2%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

CBS Funds

CBS Recipients

College Bound Service by Sector 2014-15

Research Comprehensive Private Four-Year CTC Private Career

Over Half of College Bound Students Are in Four-Year Institutions

Washington Student Achievement Council. Final Interim Report 2014-15. R:KL

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WSAC. CBS applicant data, Interim Report, Unit Record Report, and National Student Clearinghouse. Records met pledge requirements and matched to FAFSA. R:KL

4,6858,336

11,6592,102

4,672

7,020

6,787

13,008

18,679

2012-13 2013-14 2014-15

College Bound Scholarship Enrollments 2012-13 to 2014-15

Recipients Other

Over 60% of Enrolling CBS Students Receive the Scholarship

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College Bound Students Persist as Cohorts Added

5,121

5,950

6,787

5,726

7,058

7,832 2014-15

2013-14

2012-13

College Bound Enrollments by Cohort 2012-13 to 2014-15

Cohort 2014 Cohort 2013 Cohort 2012

WSAC. CBS applicant data, Interim Report, Unit Record Report, and National Student Clearinghouse. Records met pledge requirements and matched to FAFSA. R:KL

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Passport to College

Comprehensive support program serving youth from foster care.

400 students served each year

Students receive scholarship funding

Institutions provide support services

College Success Foundation• Served over 190 students with intensive services• Engaged over 400 professionals in training • Provided mentoring on ten campuses

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A public-private partnership providing employment and funding to eligible students.

• Employers hire, train, and mentor college students.

• Employers preview talent while supporting business needs.

• Program leverages private funding to serve more students.– Up to 40 percent of total wages

covered by employers– About 1,000 participating employers

State Work Study

4,473 students received $12.5 million in 2014-15

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Workforce-Related Programs

Health Professionals Loan Repayment

• State and federal programs provide assistance to health professionals serving in critical shortage areas

• 22 professionals served with federal program in 2015-16• 50 professionals anticipated with state program in 2015-16

Alternative Routes and Retooling for Teachers• Supports prospective and current teachers obtaining initial teaching certificate or

shortage area endorsements• 270 students in 2015-16

Aerospace Loan• Loans for short training programs leading to employment in the aerospace industry• 90 students anticipated in 2015-16

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WSAC collaborates with 67 institutions to administer student financial aid programs

•Interface College and Trinity Lutheran College school closures this year•Victoria Academy has been approved, and several institutions have applied, including City University

Revising rules for need-based programs; delay to incorporate recent legal guidance

Recent overhaul of secure web-based portal system to incorporate all need-based programs

•Revamped receivables and added more intuitive payment request screens•Incorporated the distribution model

SFA Partner is provided quarterly, with timely and robust information for aid administrators

WSAC and institutions achieved 100% coordination with CBS as of November report

Student Financial Aid Operations

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FAFSA Applications Remain High

274,200 310,200

381,400 425,600

446,887 451,310 440,898 427,728

2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15

FAFSA Filing by Washington Residents

Though tapering, applications for aid have increased 56% since 2007.

U.S. Department of Education. Free Application for Federal Student Aid (FAFSA) Records. [WA residents]. R:KL

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American College Application Campaign

October/November

College Goal Washington

January/February

FAFSA Completion Initiative

12th Year Campaign

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FAFSA Completion Initiative

Background:• First Lady’s Reach Higher Initiative and

FAFSA Completion Challenge.• Over 85% of districts have returned data

usage agreements in first months to access the portal.

• Publically available aggregate FAFSA filing data: http://www.bit.do/FAFSACompletionData

The FAFSA Completion Initiative allows participating districts access to student-specific FAFSA completion information for their students.

This data allows FAFSA completion intervention at the school level.

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Ready, Set, Grad

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theWashboard.org

What it does:

Offered $41.6 million in scholarships last year.

Matches scholarships to interests and goals.

Web-based; can be used in school, libraries, or at home and contains

no ads or SPAM.Is a free resource for Washington students or residents attending college outside of Washington.

Who it helps:

33% of scholarships require a GPA higher than 3.0.

62% of listings are not based on financial need.

81% do not require the FAFSA .

27% of scholarships listed are renewable.

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Increase the academic performance and preparation for postsecondary education for GEAR UP students.

Increase the rate of high school graduation and participation in postsecondary education for GEAR UP students.

Increase GEAR UP students’ and their families’ knowledge of postsecondary education options, preparation, and financing.

The goal of GEAR UP is to increase the number of students who enroll and succeed in postsecondary education. Program objectives include:

Washington State GEAR UP

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Washington Access & Affordability Initiativess