2014 Bethel Study. 16th Annual Financial Aid Survey of CCCU Institutions

Transcription

1 2014 Bethel Study 16th Annual Financial Aid Survey of CCCU Institutions December 5, 2014 Atlanta, GA Dan Nelson: Chief Institutional Data & Research Officer Jeff Olson: Director of Financial Aid Derek Stavem: Enrollment Research Lead 1

2 Presentation Overview 1. Financial Aid Operations Survey Demographics Office Functions Enrollment 2. Traditional Undergraduate Programs Revenue Budgets Financial Aid Student Debt Discount Rates Need Wealth Index 3. Themes for 2014 Student Wage Rates Packaging Need Analysis Use of Consultants Financial Aid Estimates Net Price Calculator FA Director Role Competitors Appeals & Adjustments Financial Aid Conferences 4. Hot Topics 2

3 Part 1. Financial Aid Operations Survey Demographics Financial Aid Office Staffing Student Employment One-Stop Shop Financial Aid Office Functions Enrollment 3

4 80 Participants Nov

5 Profile of Responding Schools (see p. 3) 80 Schools in Cohort CCCU Members Regular 89% (71/80) Affiliate 11% (9/80) NASFAA Members Yes 90% (72/80) No 10% (8/80) 47 Schools participated in the 5 most recent CCCU Financial Aid surveys (up 3 from last year) 13 Schools have participated in all 16 CCCU Fin Aid surveys! 5

6 13 Schools Participated in all 16 studies (see p. 5) Anderson University, IN Bethel University, MN Calvin College, MI Cedarville University, OH Houghton College, NY John Brown University, AR Messiah College, PA Roberts Wesleyan College, NY Tabor College, KS Taylor University, IN University of Northwestern - St Paul, MN Westmont College, CA Wheaton College, IL 6

7 Financial Aid Office Staffing (see p. 156) 1, Number of enrolled students per financial aid office Full-Time Equivalent employees (staff and students)

8 Student Employment (p. 158) 79 schools answered the question How do you publicize student job openings? See participant handout for details

9 In addition to financial aid, what offices or functions are combined in your One Stop Shop? (24/80=30% have a One-Stop Shop p. 166) Bursar/ Business office = 24 (100%) Registrar = 6 (25%) Veterans' Affairs (military educational benefits) = 6 (25%) Student employment administration= 4 (17%) Student life / student development = 3 (13%) Academic Advising = 2 (8%) Admissions = 2 (8%) 9

10 What Functions are Performed by Financial Aid Staff (p. 167) Student payroll FERPA administrator Assigning campus jobs Clearinghouse/NSLDS reporting Loan collections Student account administration Student employment administration Gainful employment State authorization State/ federal advocacy Advanced IT functions Consumer information coordinator NOTE: 24 of 80 offices have a One-Stop-Shop 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 10

11 What Functions are Performed by Financial Aid Staff Website maintenance Financial literacy training Default management Developing packaging strategy Loan/ fund reconciliation Satisfactory academic progress Scholarship administration Completing surveys (like this one) Basic IT functions (running reports, etc.) Student/ parent financial aid counseling Loan processing Packaging financial aid NOTE: 24 of 80 offices have a One-Stop-Shop 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 11

12 Enrollment (see p. 5) Of the 80 respondents: 60 (75%) report non-traditional undergrads 71 (89%) report graduate students Total Fall 13 undergraduate enrollment in traditional programs was 119,924 (for the 80 reporting schools). Total year grad and undergrad enrollment was 234,072 (as reported on FISAP) 12

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17 Part 2: Traditional Undergraduate Programs Revenue Budgets Financial Aid Student Debt Discount Rates Need Wealth Index 17

18 Tuition and Fee Revenue (see p. 19) The 80 responding schools reported tuition & fee revenue of $3.61 Billion Extrapolating to the entire CCCU membership, tuition & fee revenue at CCCU schools is approaching $5 Billion annually. Year Traditional Programs Non- Traditional Programs Graduate Programs % 8.5% 10.5% % 9.2% 11.2% % 8.9% 9.5% % 9.3% 11.3% % 8.8% 12.1% % 10.0% 11.5% % 8.2% 11.6% % 8.5% 11.0% 18

19 Dependent Budgets (COA) (see p. 23) Average dependent student budget is $38,090 Lowest: $25,716 Highest: $55,570 This is an increase of 3.5% from (compared with a 3.2% increase from to ). 19

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21 Tuition & Fee Changes to (see p. 23) Tuition and Fees at 80 reporting schools increased from an average of $24,649 to $25,524 (3.6%). ¼ increased tuition by 2.7% or less 4 schools froze tuition ¼ increased tuition by 2.8% to 3.6% ¼ increased tuition by 3.7% to 4.2% ¼ increased by more than 4.2% The highest reported tuition increase was 8.8% 21

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24 Indirect Budget Items (see p. 25) Dependent budget estimates for books, supplies, personal and transportation ranged from $2,190 to $8,200. Average was $4,108 This is 2.5% greater than We continue to note a great deal of churning in this category: from -10% to +72%. 24

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26 Percentage of Institutional Gift Aid (IGA) that is funded (see p. 43) The typical (median) school reports that 3.8% of institutional gift aid (not including tuition remission) has a specific funding source (endowed or restricted). 5 schools report that over 15% of IGA is funded. 9 schools report between 10-15% of IGA is funded 15 schools report between 5-9.9% of IGA is funded 51 schools report that less than 5% of IGA is funded 26

27 13-14 Federal Gift Aid (see pp ) Average Pell grant (per enrolled student) ranges: 2014 Survey: $771 to $3, schools above $2,000 per enrolled student 2013 Survey: $746 to $3, Survey: $730 to $3, Survey: $748 to $2, Survey: $693 to $2, of 80 (65%) schools offer TEACH Grant 27

28 Average Federal Grants per Enrolled Student (see p. 47) 80 Schools Low Median High SEOG $27 $81 $401 TEACH $0 $13 $306 Pell $771 $1,485 $3,340 28

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30 Pell Grant as % of Total Enrollment (see pp ) 2012 Survey Students in Traditional Programs 2013 Survey 2014 Survey Students in Non-Traditional Programs 2012 Survey 2013 Survey 2014 Survey Minimum 20.4% 20.1% 15.9% 0% 0% 0% 1 st Quartile 30.9% 30.5% 29.7% 32.1% 33.8% 26.4% Median 38.3% 37.3% 36.7% 42.8% 46.7% 44.5% 3 rd Quartile 46.5% 44.7% 43.8% 57.8% 61.0% 54.2% Maximum 69.5% 70.0% 95.0% 83.2% 93.6% 100.9% # Schools reporting Pell recipients

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32 State Grants & Scholarships (p ) 76 responding schools (95%) report that their in-state students have access to a state scholarship or grant program 32

33 State Grants & Scholarships (p ) State award not need-based Georgia Arkansas Percent of state residents received state grant in Ranges from 1% to 100% Average is 42% Middle 50% ranges from 24% to 54% Median reported average state grant = $3,562 33

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35 Loans (see p. 57) 80 survey respondents reported $905 million in total borrowing Of this $194 million was PLUS loans Total PLUS borrowing exceeded $5 million at 5 schools Average PLUS per enrolled student was $1,419 ($1,397 from 2013 survey) Average amount borrowed per enrolled student was $7,031 (up 0.3% from 2012 survey) 35

36 Borrowing: Average per Enrolled Student (see p. 59) 2% 21% Perkins 31% Subsidized Unsubsidized 15% Other PLUS 30% Perkins $192 Subsidized $2,296 Unsubsidized $2,203 Other $957 PLUS $1,419 Total $7,031 36

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38 Loans as Percent of Tuition & Fee Revenue (see p. 61) Recorded loans (including PLUS) exceed 50% of tuition and fee revenue at 8 of 80 reporting schools (10%) Loans are less than 30% of tuition and fee revenue at 32 of 80 schools (40%) The median percentage is 31.4%, down from 32.7% on 2013 survey 35.6% on 2012 survey 38.2% on 2011 survey 38

39 Total Financial Aid (see p. 65) Students at 80 reporting institutions received $2.41 billion of financial aid in $1.62 billion in gift aid $711 million in student loans $76 million in employment Parents borrowed $194 million in PLUS loans 39

40 Average Financial Aid per Enrolled Student (see p. 69) 80 Schools Lowest average Average Highest average Gift Aid $5,168 $12,772 $19,762 Loans (w/o PLUS) $0 $5,612 $10,505 Work $43 $580 $3,456 40

41 Average Student Loan Debt (see pp ) On average 74% of Spring 2014 graduates at 79 responding schools borrowed student loans (range: 10% to 100%). Their average debt was $27,866 (range: $8,145 to $43,841). 40 of 79 (51%) of responding schools had average debts ranging from $25,000 to $32,000 Average debt equaled 116% of tuition and fees at each student s school (range: 32% to 231%). 41

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44 Discount Rate Calculation Unfunded "Unrestricted Institutional gift aid" divided by "tuition and fee revenue" NACUBO (Unrestricted institutional gift aid + endowed + restricted) divided by "tuition and fee revenue" Neither calculation includes employee tuition remissions 44

45 Discount Rates (see pp ) 80 schools reported unfunded discount rates from 0.9% to 53.6% 1 st Quartile: 33.9% (33.0% last year) 2 nd Quartile (median): 39.6% (38.4% last year) 3 rd Quartile: 44.9% (43.7% last year) The NACUBO discount rate for the same schools ranged from 21.0% to 69.3% 1 st Quartile: 36.3% (36.2% last year) 2 nd Quartile (median): 42.0% (40.7% last year) 3 rd Quartile: 46.8% (45.6% last year) 45

46 Estimated Discount Rates (see pp ) 77 schools reported estimated unfunded discount rates from 21.6% to 59.9% 1 st Quartile: 34.4% 2 nd Quartile (median): 41.0% 3 rd Quartile: 46.6% The estimated NACUBO discount rate for the same schools ranged from 22.6% to 61.3% 1 st Quartile: 37.4% 2 nd Quartile (median): 42.7% 3 rd Quartile: 48.5% 46

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49 Needy/Not Needy (see pp ) 74.8% percent of students at 75 responding schools were needy (range: 50.5% to 97.6%). Total gift aid to needy students = $1.27 billion Average gift aid per needy student = $14,601 ($13,698 last year) 49

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51 Needy Students (see p ) The average needy student at responding schools had demonstrated need of $26,603 (range: $16,276 to $37,589) On average, responding schools meet 54.7% of need with gift aid Minimum: 18.1% 1 st Quartile: 47.9% 2 nd Quartile (median): 55.7% 3 rd Quartile: 61.3% Maximum: 86.3% 51

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53 Non-Need Students (see pp ) Percentage of non-need students receiving aid 21 of 74 (28%) schools gave non-need aid to over 97% of their nonneed students Minimum = 22.5% 1 st quartile = 72.1% Median = 89.2% 3 rd quartile = 98.6% Max = 100% Average total gift aid per non-need aid recipient Minimum = $2,815 1 st quartile = $8,564 Median = $10,716 3 rd quartile = $12, schools over $15,000 53

54 Sticker Price vs. Avg. Revenue (see p. 140) The median school reported average T&F revenue of 89% of their tuition sticker price (this represents the effect of less than fulltime and less than full-year students). The range was from 67% to 103% 3 schools reported 100% or higher (possible sign of data error). 54

55 Price compared with Family Wealth (see pp ) The "wealth index" is an approximate measurement of expected parent contribution from non-independent student families (whether or not they show need). A positive variance means that, compared to the group, families are wealthier than the norm. 55

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59 Part 3: Themes for 2014 Student Wage Rates Packaging Need Analysis Use of Consultants Financial Aid Estimates Net Price Calculator FA Director Role Competitors Appeals & Adjustments Financial Aid Conferences 59

60 Student Employment Wage $12.00 $10.00 Rates for New Employees (see p. 160) $9.70 $9.30 $10.00 $10.00 $8.00 $7.25 $7.25 $7.25 $7.25 $6.00 $4.00 $2.00 $0.00 Clerical Food Service Maintenance Teacher Assistants First Quartile Median 3rd Quartile Maximum

61 Change in Average Hourly Wage Rates for New Student Employees: to $2.00 $1.50 $1.00 $0.50 $0.00 ($0.50) $1.45 $1.15 $0.75 $0.60 $0.25 $0.37 $0.20 $0.20 $0.25 $0.25 $0.00 $0.00 $0.00 $0.00 $0.00 Clerical Food Service Maintenance Teacher Assistants ($1.00) First Quartile Median 3rd Quartile Maximum ($0.75)

62 Resident Assistant Wage Rates (see p. 162) Stipend $0 $1,500 $3,974 $3,000 $7,647 Grant $0 $0 $3,366 $5,063 $9,810 Maximum 3rd Quartile Median 1st Quartile Sum $1,000 $4,043 $3,200 $5,719 $9,814 Minimum $0 $2,000 $4,000 $6,000 $8,000 $10,000 $12,000 62

63 Avg. Total Pay per RA as % of Room & Board: % 102% 80% 60% 40% 40% 49% 65% 20% 10% 0% 63

64 Average Total Resident Assistant Pay as Percent of Room and Board: to % 100% 104% 102% 80% 60% 40% 47% 40% 57% 49% 67% 66% 20% 0% 1st Quartile Median 3rd Quartile Maximum

65 Need Analysis Methodology (see p. 171) Of 70 reporting schools: 70 (89%) use FM exclusively (compared with 90% in 2010 and 88% in 2006) 0 schools reported using CSS Profile (down from 1 in 2010 and 2006) 9 schools (11%) use FM and some other method of need analysis (up from 6 schools in 2010) 65

66 % of Institutionally Controlled Gift Aid (ICGA) awarded based on Need (p ) 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Awarded for Need & Meets Need Q. Under your current policy, what percent of institutionally controlled gift aid (excluding tuition remission) is awarded based on need, and used to meet need? 66

67 % of Institutionally Controlled Gift Aid (ICGA) awarded based on Need (p ) 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Awarded for Need & Meets Need Q. Under your current policy, what percent of institutionally controlled gift aid (excluding tuition remission) is awarded based on need, or awarded for Merit/Circumstance, and used to meet need? Awarded for Merit or Circumstance; Meets Need 67

68 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% % of Institutionally Controlled Gift Aid (ICGA) awarded based on Need (p ) Q. Under your current policy, what percent of institutionally controlled gift aid (excluding tuition remission) is awarded based on need, or awarded for Merit/Circumstance, and used to meet need, or awarded for Merit/Circumstance above need? Awarded for Merit or Circumstance; Exceeds Need Awarded for Merit or Circumstance; Meets Need Awarded for Need & Meets Need 68

69 What criteria would the director of financial aid prefer to use to award institutional gift aid? (p ) 70% 60% 50% 40% 30% 20% 10% 0% Only need Need more than Merit Need & Merit Equally Merit more than Need Only Merit Survey 2% 24% 67% 8% 0% 69

70 What criteria would the director of financial aid prefer to use to award institutional gift aid? (p ) 2010 Survey, N = Survey, N = 78 70% 60% 50% 40% 30% 20% 10% 0% Only need Need more than Merit Need & Merit Equally Merit more than Need Only Merit Survey 2% 24% 67% 8% 0% Survey 3% 29% 54% 14% 0% 70

71 What criteria would the director of financial aid prefer to use to award institutional gift aid? (p ) 52 Schools responding to both 2010 and 2014 surveys 70% 60% 50% 40% 30% 20% 10% 0% Only need Need more than Merit Need & Merit Equally Merit more than Need Only Merit Survey 2% 25% 63% 10% 0% Survey 4% 21% 62% 13% 0% 71

72 What criteria would the director of financial aid prefer to use to award institutional gift aid? (p ) Change amongst 52 Schools responding to both 2010 and 2014 surveys 2010 Survey Total Need Only Need More 2014 Survey Equal Merit More Merit Only Total Need Only 1 1 Need More Equal Merit More Merit Only

73 Is Need or Merit given more consideration in your school s awards? (p ) 0 # Schools Only Need Need More Equally Merit More Only Merit 4 73

74 Does school s emphasis on Need or Merit IGA match financial aid director s personal preference? (p ) Yes = 20 (30%) No = 47 (70%) Only Need Need More Equally Merit More Only Merit Yes No 74

75 Hired a Financial Aid Consultant in last 5 Years? (see p. 173) 56 Yes (70%) Most frequently named consultants Noel-Levitz (23 times) Scannell & Kurz (11 times) Hardwick-Day (10 times) No others reported more than twice 24 No (30%) 75

76 Financial Aid Estimates (p. 178) Do you offer early financial aid estimates in addition to the Net Price Calculator? 41 of 79 (52%) of responding schools offer early financial aid estimates. See pages of handout for specific comments from schools.

77 When do you update your Net Price Calculator? (p. 177) August or earlier (12 months before new award year begins): 7% Between September and December: 42% Between January and April: 33% May or later: 18% 79 respondents 77

78 Use of Net Price Calculators (p ) 11 schools (14%) use the federally supplied NPC 9 schools developed their own NPC 58 schools use a vendor (see next slide) If not required, would you still use your NPC? 39 yes 37 no Schools most satisfied with their vendor s NPC were more likely to answer yes 78

79 Net Price Calculator Vendors and Satisfaction Level (p. 177) Vendor # Schools Satisfaction (4 highest) Noel-Levitz College Board Hardwick-Day Student Aid Services TWGPLUS AidCalc Mindscape National Center for College Costs thru ICI Total 57 Average

80 Financial Aid Director s Involvement In (p. 180) New Financial Aid Strategies Establishing Discount Rate Planning for Enrollment Changes State Financial Aid Advocacy Retention Strategies Federal Financial Aid Advocacy Setting Tuition Rates Developing Scholarship Donors Q. To what extent is the financial aid director involved in the following activities? 1. Direct involvement (participate in decision); 2. Indirect involvement (provide data/input to decision maker); 3. Not involved 0% 20% 40% 60% 80% 100% Direct Indirect None 80

81 Percentage Points Change in Financial Aid Directors Direct Involvement: to (p ) Retention Strategies Federal FA Advocacy State FA Advocacy Developing Scholarship Donors New FA Strategies Establishing Discount Rate Planning for Enrollment Changes Setting Tuition Rates Q. To what extent is the financial aid director involved in the following activities? -8.0% -6.0% -4.0% -2.0% 0.0% 2.0% 4.0% 6.0% 81

82 Competitors (p ) # Times Listed as Competitor 13 BIOLA, CA 11 AZUSA PACIFIC, CA 11 LIBERTY, VA 10 OLIVET NAZARENE, IL 10 WHEATON COLLEGE, IL 9 CEDARVILLE, OH 9 TAYLOR, IN 8 CALVIN COLLEGE, MI 7 BAYLOR, TX 6 INDIANA WESLEYAN, IN 6 SEATTLE PACIFIC, WA 6 WESTMONT COLLEGE, CA Type of Competition? CCCU = 41% = 42% Other Private = 20% = 21% Publics = 39% = 37% Q. Who are your top 7-10 competitors? 82

83 Sources of Pressure to Adjust Financial Aid Packages (p. 204) Family Admissions Athletics Performing Areas Church Academic Personnel President Alumni 0% 20% 40% 60% 80% 100% Q. How often do you receive pressure to adjust financial aid packages from? Often Occasionally Rarely Never 83

84 Pressure to Adjust FA Packages Change in % Often or Occasionally: to (p ) Admissions 9.6% Academic Personnel Performing Areas Church Family Athletics Alumni % of Admissions Office staff often or occasionally pressuring financial aid staff to adjust aid packages increased 9.6 percentage points, from 70.1% on the survey to 79.7% on the survey. President -6% -4% -2% 0% 2% 4% 6% 8% 10% 12% 84

85 Requests for more Gift Aid from Student or Family (p ) 22% (17/79) Typically do not increase award (was 30% in 2010) Increase need-based gift aid 86% (68/79) In response to documented unusual circumstances (88% in 2010, 95% in 2006) 35% (28/79) w/o documented unusual circumstances - we feel your pain (29% in 2010, 18% in 2006) 13% (10/79) Attempt to match competing packages (7% in 2010, 9% in 2006) Increase non-need-based gift aid 80% (63/79) In response to new data (e.g. test score) (84% in 2010, 84% in 2006) 14% (11/79) w/o new academic data (13% in 2010, 6% in 2006) 13% (10/79) Attempt to match competing packages (9% in 2010, 10% in 2006)

86 Who has authority to make decisions to increase the amount of gift aid in a financial aid? (p ) Decision-Makers Financial Aid Director 94% 91% Other financial aid staff 28% 26% Committee that reviews and decides upon all requests An enrollment manager, or other individual who does not work directly in the financial aid office 30% 30% 41% 38% 86

87 Do you make Professional Judgment Adjustments in these situations? (p ) Medical Parent's income reduced Independent student income reduced Sibling in private K-12 school Dependent Student income reduced Q. Do you adjust need (and thus needbased aid) when families submit the following types of appeals? 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Yes It Depends No 87

88 Do you make PJ Adjustments in these situations? (p ) Retirement Distribution Parents' College Expenses Overseas Cost of Living Higher Adoption Expenses Parent's prior college loans Q. Do you adjust need (and thus needbased aid) when families submit the following types of appeals? 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Yes It Depends No 88

89 Do you make PJ Adjustments in these situations? (p ) Sub-Chapter S Earnings Parents paying on older sibling's loan Repaying Excessive personal debt House Payment High Wedding expenses Q. Do you adjust need (and thus needbased aid) when families submit the following types of appeals? 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Yes It Depends No 89

90 How have adjusted aid packages affected enrollment? (p ) Higher The yield rate for students with adjusted packages is higher than normal No change No noticeable change in yield rates Don't track We do not track this data Lower The yield rate for students with adjusted packages is lower than normal % 28% 10% 19% 66% 53% 3% 0% 90

91 Financial Aid Conference Priorities (p ) Conference # of Responses Avg. Rating: 1-5 (1 highest) # of Responses Avg. Rating: 1-5 (1 highest) Federal Student Aid Conference nd Other FA Conference State FA Conference Software Vendor (1314) Other: software provider (0910) nd State FA Conference CCCU FAA Conference NASFAA summer Conference Regional FA Conferences

92 Conference # of Attendees by Conference: Survey (p ) # Director, Dean, VP Attend # Ast/Assoc Dir Attend # Counselor/ Other Attend Total % of Grand Total State % FSA % Software Vendor % State % CCCU % NASFAA % Regional % Other % Grand Total

93 Conference & Travel Budgets (p ) Annual Budget Budget per Exempt FTE Budget per All Staff FTE # Respondents First QuarBle $2,475 $2,878 $667 $704 $489 $455 Median $5,000 $4,435 $1,250 $1,141 $750 $733 Third QuarBle $7,250 $5,844 $2,000 $2,086 $1,183 $1,054 Maximum $37,868 $20,500 $7,800 $12,000 $2,800 $2,432 93

94 Part 4: Hot Topics Prior-Prior Year income on FAFSA Increase in minimum wage Percent receiving Title IV Aid Developing financial aid packaging strategy 94

95 Prior-Prior Year Income on 80 respondents FAFSA (p ) 21% strongly support 35% moderately support 21% neutral 14% moderately oppose 9% strongly oppose Included in Senate s Higher Education Reauthorization Act Bill (Nov 21, 2014) 95

96 Increase in Minimum Wage (p ) Q. How would your school respond to an increase in the minimum wage to $10.10 per hour? 36% 21% 43% Increase departmental student work budgets so students can work same number of hours Maintain number of student jobs but reduce hours Reduce number of student jobs 96

97 % Receiving Title IV Aid (p ) Q. What percentage of your traditional undergraduate students received Title IV aid (excluding PLUS)? 100% 99% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 85% 77% 68% 44% 97

98 Developing Financial Aid Packaging Strategy (p ) Who is involved in development of aid strategy? # Schools Average Satisfaction Rating (4 highest) Financial Aid Office 15 (19%) 2.95 Campus Team 22 (28%) 2.92 Consultant 42 (53%)

99 Developing Financial Aid Packaging Strategy (p ) Q. If you have ever use a packaging consultant - please rate satisfaction with consultant. 32 (48%) We are satisfied and continue to use the consultant 6 (9%) We are not satisfied, but continue to use the consultant 5 (7%) We have changed packaging consultants 9 (13%) We no longer use a packaging consultant and are pleased with our results 2 (3%) We no longer use a packaging consultant but wish we were 13 (19%) We have not used a packaging consultant 13 schools did not answer this question 99

100 Questions? Contact Dan, Jeff or Derek if you have specific questions the CCCU financial aid administrators e-list to foster a broader conversation 100