Strategic Financial Aid Allocation for Retention

Last updated November 19, 2014

Strategic Financial Aid Allocation for Retention

Last updated November 19, 2014

Overview

Financial, academic, and social challenges make student retention a complex issue on any campus. Amidst this complexity, many institutions continue to widely allocate limited financial aid funds without a clear understanding of which students are most incentivized by financial support. Those who are able to accurately target students most in need of financial incentives for degree completion, however, ensure the strongest investment for their students and their institution.

Join us for an online training that will help your institution to develop strategic plans for retention-driven financial aid allocation. Primarily, we will address:

  • Which students will be most impacted by financial aid incentives
  • How to design a cost/benefit analysis for optimal financial aid allocation
  • When to communicate and distribute financial aid awards to improve retention

Who should attend?

This training is ideal for individuals who are central to financial aid allocation decisions on campus. In addition, attending with colleagues who are charged with bolstering student retention on campus will allow you to collaborate more effectively on campus challenges.

Agenda

  • Reading Retention Data
    • Segmenting data (academic, financial)
    • Establishing trend lines
    • Identifying retention commonalities: Are they financial aid related?
  • Developing a Retention Financial Aid Strategy
    • Cost/Benefit analysis: Who are your retention targets?
    • Managing resource tradeoffs
    • Identifying new resource avenues
  • Carrying-out your Strategy
    • Aid allocation: Front end or year-by-year?
    • Communication timeline for prospective students