Meeting notes – October 21, 2011
Regent Buchanan thanked the members for agreeing to serve. Tyler Trevor let a brief review of the charge to the committee and the data that has been gathered and shared with the Board of Regents. Members engaged quickly in a lively discussion of other data points needed and how the group should move forward.
- For each campus, get the amount of total financial aid processes versus the amount spent on tuition and fees as a way of identifying financial aid that is used to cover living expenses. (Ron Muffick and Rikki Jones will confer on how to get this information.)
- Look at trends in student course loads
- Consider intrusive advising as a way to encourage 15-credit course loads for those who need financial aid. [Assure that students have necessary support services to manage 15-credit loads.]
- Financial Literacy Education should be coordinated and intentional and should be directed at both first-year students and students ready to graduate.
- Use Student Financial Services (SFS) – especially “Get Money Smart.”
- Financial Awareness
- Increase participation in 529 or other long-range family education savings plans.
- Support SAF efforts (e.g., Know How to Go) to raise awareness with pre-college students and their families.
- Financial aid services at each campus should be efficient and effective, and best practices should be shared across the system.
Agenda Items for next Meetings: (Next scheduled meeting will be Friday, December 16th – 11 AM call)
- Report on your own campus efforts and/or investigate models at other campuses for designating a percentage of increases in tuition for need-based financial aid. [How are above-projections enrollments utilized?]
- Consider ways to broaden our discussion to engage legislators or others – decide whom to invite to the meetings.
- Begin discussion of tuition decision timing and possible changes to tuition policy.
- Identify other policies/practices that may need to be changed.
- Strategize ways to communicate to the public about a complex topic.