Schlarship Restructuring Recmmendatins University Assembly Cmmittee n Recruitment, Admissins, Retentin, and Student Financial Aid April 24, 2007 Pints fr Cnsideratin: UMSL has a limited amunt f Student Financial Aid resurces Schlarship resurces are nt being spent as effectively as pssible t recruit and retain an utstanding student bdy Our prpsal details a mre effective mechanism fr spending ur limited schlarship dllars t fcus n recruitment and retentin Including Summer schlarship within the Financial Aid structure prmtes the cncept f Year-Rund University and allws students t mre effectively manage their time t degree cmpletin The reprt is infrmatinal there are n actin items The University Assembly Cmmittee n Recruitment, Admissins, Retentin, and Student Financial Aid will assist Student Affairs and Academic Affairs with the implementatin f these recmmendatins and reprt back t Faculty Senate and University Assembly Implementatin : Fall 2008 Hw are UMSL students perfrming academically? What amunts f schlarships are currently available? Full-Time Undergrads GPA >=3.5 1,146 students GPA 3.0 3.49 920 students Part Time Undergrads GPA >=3.5 1,326 students GPA 3.0 3.49 1,030 students Freshmen (Full-Time) GPA >=3.5 94 (62 receiving schlarship) GPA 3.0 3.49 87 (46 receiving schlarship) Ttal amunt f schlarship dllars available ~$17,000,000 Awarded ~$15,000,000 Schlarship Crdinatr will gather actual numbers t build the frmula fr the UMSL schlarship In the past, we have always spent until gne we will cntinue t d that, but the new structure fcuses attentin n spending t recruit rather than nce they have been admitted and t retain the students wh are perfrming well FA Inquiry Grup, Final Reprt, 1
Hw are we currently spending ur schlarship dllars? Hw are these awarded? Which schlarships are cntrlled by Financial Aid? Which schlarships are cntrlled by the departments/clleges? Schlarship crdinatr will answer this is beynd the scpe f this inquiry grup Review Freshmen Schlarship structure Cncern that criteria nt realistic with UMSL student and nt cmmiserate with amunt awarded Nt financial incentive t effectively recruit tp caliber students and cmpete with ther area institutins Changes will supprt campus gal f recruiting tp caliber FT/FT freshmen and retaining them at UMSL Curatr s schlarship $7,000; ACT 28, Upper 5% f HS class Have t package as $3,500 is set amunt Summer Schlarship $750 fr 6 credit hurs; $375 fr 3 credit hurs Chancellr s schlarship $5,000; ACT 26, Upper 10% f HS class Summer Schlarship $750 fr 6 credit hurs; $375 fr 3 credit hurs University Schlarship $2,000; ACT 25, Upper 25% f HS class Summer Schlarship $500 fr 6 credit hurs; $250 fr 3 credit hurs Academic schlarship $1,500; ACT 24, Upper 25% f HS class Summer Schlarship $500 fr 6 credit hurs; $250 fr 3 credit hurs Mark Twain schlarship $1,000; ACT 23, Upper 35% f HS class Summer Schlarship $250 fr 6 credit hurs; $125 fr 3 credit hurs Renewal Criteria will remain the same fr each schlarship Sme H.S. have stpped ranking students, s inf may nt be available This cncern has already been addressed and reslved within the Admissins Department FA Inquiry Grup, Final Reprt, 2
Hw d we envisin utilized mre effectively? Recruitment/Marketing Cmmunity Cllege President s Schlarship Awarded t each Cmmunity Cllege in the State f Missuri and Suthwestern Illinis Cllege 2 schlarships (1 Fall, 1 Spring) will be given t students transferring t UMSL frm each institutin These are the minimum number f schlarships per Cmmunity Cllege campus; the Schlarship Crdinatr and Directr f Transfer Services will wrk tgether t award additinal schlarships t campuses with larger amunts f transfers Schlarship t supprt 15 credit hurs fr Fall r Spring Nt t exceed 65 hurs r 2 years f supprt CC wuld pick slate f 3 ptential recipients & UMSL wuld retain ability t make final decisin Criteria - Transfer GPA >=3.5 Earned AA required Student must be admitted t UMSL t receive schlarship (nt just applied, but admitted) Renewal Criteria UMSL GPA >= 3.0 Maintain full-time cntinuus enrllment Fall & Spring semesters Cntinuus defined as at least 24 hurs in tw cnsecutive semesters Summer schlarship supprt - 3 hurs f credit = $375 6 hurs f credit = $750 Schlarship awarded jintly with CC president and UMSL chancellr Marketing pprtunity fr UMSL & CC CC wuld be integral part f prcess and further ur relatinship with thse institutins Ttal Cst - $100,000/year (fr 7 Metr area campuses) High Schl schlarships Cnsider similar structure fr schl districts This wuld require much further planning As ther changes are put int place, reevaluate budget and determine hw much is available in schlarships Many plitical cnsideratins t decisins regarding which schl districts t include in prgram Lk at prfiles f current freshmen enrllments Where can ur recruiting/marketing dllars mst effectively be spent? Ptential fr BRIDGE prgram schlarships Hw can we serve freshmen ppulatins that are underrepresented at UMSL? FA Inquiry Grup, Final Reprt, 3
Hw d we envisin utilized mre effectively? (Cnt.) Transfer Schlarships Schlarships are autmatic if qualified, but students must be admitted by March 15 fr Fall & Octber 15 fr Spring fr the guaranteed award (if admitted after deadline, then first cme first serve fr qualified students) At time f applicatin, student must be admitted t UMSL and plan t enrll full-time t qualify (if d nt enrll full-time, will n lnger receive schlarship) Must transfer at least 45 hurs f study at 2 year institutin AA nt required fr cnsideratin, but will be given preference Named Schlarship GPA >=3.5 $3,500/year 60 schlarships (40 Fall, 20 Spring) Schlarships are currently in place Renewal Criteria UMSL GPA >= 3.0 Maintain full-time cntinuus enrllment Fall & Spring semesters Cntinuus defined as at least 24 hurs in tw cnsecutive semesters Summer schlarship supprt - 3 hurs f credit = $375 6 hurs f credit = $750 Ttal cst - $210,000/year (Fall & Spring) Named Schlarship GPA 3.25 3.49 - $1,500/year 140 schlarships (90 Fall, 50 Spring) Renewal Criteria UMSL GPA >= 3.0 Maintain full-time cntinuus enrllment Fall & Spring semesters Cntinuus defined as at least 24 hurs in tw cnsecutive semesters Summer schlarship supprt 3 hurs f credit = $375 6 hurs f credit = $750 Ttal cst - $210,000/year (Fall & Spring) FA Inquiry Grup, Final Reprt, 4
Hw d we envisin utilized mre effectively? (Cnt.) Summary f Prpsed Schlarship Additins Retentin Students nly eligible if nt currently receiving University schlarship supprt Fcus is t reward gd academic perfrmance Award wuld be autmatic if qualify, then receive award Schlarship wuld be applied t the next cnsecutive semester f enrllment (fcus is t retain and encurage cntinued enrllment) Dean s Schlarship (Full Time, 12+ hurs) Term GPA >= 3.75 $750/semester ($284,000) Term GPA 3.5 3.74 - $500/semester ($148,000) Ttal Cst - $432,000 Dean s Schlarship (Part Time, 6 11 hurs) Term GPA >= 3.75 $375/semester ($84,000) Term GPA 3.5 3.74 - $250/semester ($34,000) Ttal Cst - $118,000 If student changes status, award amunt will fluctuate accrdingly Part-Time student enrlls full-time the fllwing semester wuld receive full-time award amunt Full-time student enrlls part-time the fllwing semester wuld receive part-time award amunt Summer Schlarship Supprt Eligible students wh enrll fr summer curses are eligible fr the Part-Time Dean s Schlarship If receive Summer schlarship, Fall schlarship eligibility will be determined by cumulative Spring and Summer GPA If d nt receive Summer schlarship, Fall schlarship eligibility will be determined by Spring GPA Future gal f Dean s Schlarship Reward all students wh are recgnized n the Dean s List and are nt currently receiving University schlarship supprt As schlarship dllars are reallcated, the feasibility f the expansin f the Retentin Schlarship t include all thse students will be evaluated Currently, ~ $2,000,000 in schlarship dllars nt awarded Prpsed schlarship increases Additinal $1,070,000 Freshman schlarship csts need t be calculated and included in adjustments After initial implementatin and revaluatin f the utlays, schlarship prgrams can be expanded further withut any new develpment dllars FA Inquiry Grup, Final Reprt, 5
Hw d we envisin utilized mre effectively? (Cnt.) With a large amunt f schlarship dllars nt being used as effectively as pssible, we are prpsing the creatin f a psitin respnsible fr managing schlarship awards Schlarship Crdinatr Reprt t Assciate Vice-Prvst fr Student Affairs Wrk clsely with Financial Aid ffice Recmmend this psitin be funded thrugh existing FTES Fcus n creating psitin withut diminishing current service levels Jb functins currently spread acrss many psitins need centralized respnsibility Jb Respnsibilities - Ensure eligible students are aware f available schlarships and are receiving thse schlarships Simplify prcess as much as pssible Autmated schlarships based n eligibility will eliminate steps and streamline prcess Streamline schlarship inf n FA website Create a psitive impressin with students by prviding a highly visible, student fcused service Students will be able t mre effectively navigate the financial aid prcess with the persnal assistance Market schlarship prgrams t current and prspective students Current students Web-link; UMSL Day, Majr/Minr Fair, Mirthday, etc. Prspective students recruiters culd heavily market at High Schls & Cmmu nity Clleges Maintain up-t-date recrds f schlarship awards What has been awarded? What schlarships have nt been awarded? What percent f students receiving schlarships have left UMSL? Is there a crrelatin between award amunt and retentin? Wrk with Vice-Prvst and Institutinal Research t determine if schlarships are meeting purpses f recruitment and retentin gals Suggest changes as needed based n the data Wrk with Clleges and Departments t facilitate eligible students applying fr Cllege/Department awarded schlarships Cnsider implementatin f timeline fr departmental awards t create cnsistency between UMSL schlarship awards & dept/cllege awards Wrk with Develpment Office and dnrs t ensure schlarship criteria are awardable accrding t prfile f UMSL students Cncern that schlarships are cnsistently underutilized due t unrealistic eligibility criteria Create bklet f all current schlarships Review list t lk fr ptential t cnslidate awards Publish in print and electrnic fr students t view Streamline schlarship inf n FA website Review schlarship award amunts annually t cnsider Tuitin increases Increases/decreases in available schlarship dllars FA Inquiry Grup, Final Reprt, 6
Hw d we envisin utilized mre effectively? (Cnt.) Equity Packaging Mdel/UMSL Schlarship - Inquiry Grup recmmends changes t the methd fr awarding UMSL schlarships Cncern is that mdel fcuses attentin n need and nt merit Refcus t reflect the mre merit-qualified & financially-needy a student, the mre aid mney; nt just the mre financial need, the mre schlarship award given Suggest creatin f a table that reflects merit n the x-axis and Estimated Family Cntributin n the y-axis UMSL Schlarship criteria Minimum 2.75 GPA Renewable, but reassessed each academic year based n EFC frm the FAFSA If student has n need, n UMSL schlarship Table creatin beynd the scpe and knwledge f this inquiry grup suggested frmat belw, but EFC amunts are nt cnsidered accurate r reflective f what shuld be Recmmend Assciate Vice-Prvst fr Student Affairs and Enrllment Services, Schlarship Crdinatr, Directr f Financial Aid, Directr f OTSA, and admissins advisrs wrk tgether t establish table that reflects UMSL students $4,000 $3,000 $2,000 $1,000 EFC GPA 2.75 3.0 3.01 3.25 3.26 3.50 3.51 3.75 3.76 4.00 FA Inquiry Grup, Final Reprt, 7