Financial Aid Leveraging, Analysis, and the Plan Going Forward - PowerPoint PPT Presentation

Financial Aid Leveraging, Analysis, and the Plan Going Forward Faculty Meeting April 14, 2016

Distribution of Freshmen by High Need and High Ability 2012-2015 2008-2011 3,136 total freshmen 2,742 total freshmen High Ability High Ability 350 526 13% 17% High Need 587 21% Middle High Need Middle 1,839 771 1,805 59% 24% 66% Increase of 394 Middle 34 8% High Ability High Need 176 184 45% 47%

What Families Pay All Undergraduates 40,000 Recession 36,160 Effects 34,760 35,000 ↓ 33,480 +4.0% 32,250 +3.8% 31,040 +3.8% 29,582 +3.9% 30,000 28,320 +4.9% 26,950 +4.5% 25,200 +5.1% 24,000 25,000 +6.9 % 22,750 +5.0% 21,700 +5.5% +4.8% 20,000 17,233 17,196 17,087 16,866 16,682 16,128 15,555 15,598 14,591 +2.4% +0.9% -0.2% -1.9% +3.4% 13,999 15,000 +3.4% 13,371 +0.3% 12,638 +6.6% +4.2% +4.7% +5.8% 10,000 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Tuition/fees What Families Pay (net tuition)

Admits by FAFSA Filers and Non-Filers Domestic Freshmen 64.8% 64.8% 62.0% 6,000 61.2% 59.0% 60.0% 5,296 5,166 5,000 4,651 50.0% 4,216 2,055 1,964 3,919 4,000 1,635 40.0% 1,483 1,606 3,000 30.0% 2,000 20.0% 1,000 3,241 3,202 10.0% 3,016 2,733 2,313 0 0.0% 2011 2012 2013 2014 2015 FAFSA Filers Non-Filers % Filed

Yield by non-FAFSA Filers Domestic Freshmen 2,500 2.6% 2.6% 2,000 2.0% 1.8% 1,500 1.5% 1.5% 2,055 1,964 1,606 1,483 1,635 1,000 1.0% 500 42 26 42 30 30 0 0.0% 2011 2012 2013 2014 2015 Non-Filers Enrolled Yield

Yield by FAFSA Filers Domestic Freshmen 3,500 30.0% 27.5% 3,000 25.0% 26.1% 25.5% 2,500 20.0% 21.4% 21.0% 2,000 15.0% 1,500 3,241 3,016 3,202 2,733 2,313 10.0% 1,000 5.0% 500 789 697 695 674 637 0 0.0% 2011 2012 2013 2014 2015 FAFSA Filers Enrolled Yield

OrientationChart - Definitions Expected Family Contribution (EFC) – all FAFSA filers grouped into 10 deciles. Chart includes only FAFSA filers who received a financial aid package. Academic Ability – weighted GPA and test scores combined, grouped into 5 quintiles RED – cell with the neediest, lowest ability students GREEN – cell with the wealthiest, highest ability students Cell contents – enrolled of number admitted, yield, discount 1 1,491 4,336 7,815 12,099 17,809 24,171 33,285 55,042 EFC Range 0 to to to to to to to to to 1,490 4,335 7,814 12,098 17,808 24,170 33,284 55,041 999,999 Average Gross Income 19,000 31,000 53,000 73,000 92,300 112,300 126,100 148,600 171,200 250,000 Average Average 1st 2nd 3rd 4th 5th 6th 7th 8th 9th 10th GPA ACT 3.25 22 1st 3.57 24 2nd 3.77 26 3rd 3.97 28 4th 4.20 31 5th

Yield and Discount by Cell – 2014 and 2015 Incoming Freshmen 1 st 2 nd 3 rd 4 th 5 th 6 th 7 th 8 th 9 th 10 th $19,000 $31,000 $53,000 $73,000 $92,300 $112,300 $126,100 $148,600 $171,200 $250,000 1 st 64 of 285 17 of 101 28 of 155 29 of 136 22 of 103 34 of 104 13 of 81 10 of 78 15 of 98 13 of 75 Y 22 % Y 17% Y 18% Y 21% Y 21% Y 33% Y 16% Y 13% Y 15% Y 17% 3.25 D 61% D 63% D 63% D 66% D 62% D 57% D 48% D 42% D 32% D 17% 22 2 nd 48 of 182 20 of 90 30 of 142 28 of 112 25 of 106 18 of 110 24 of 123 16 of 95 15 of 97 16 of 75 Y 26 % Y 22% Y 21 % Y 25% Y 24% Y 16% Y 20% Y 17% Y 15% Y 15% 3.57 D 61% D 62% D 66% D 67% D 67% D 60% D 55% D 52% D 44% D 36% 24 3 rd 41 of 164 23 of 93 35 of 115 20 of 124 25 of 141 33 of 129 24 of 119 26 of 130 32 of 139 31 of 75 Y 25 % Y 25% Y 30% Y 16% Y 18% Y 26% Y 20% Y 20% Y 23% Y 25% 3.77 D 65% D 65% D 67% D 69% D 67% D 62% D 59% D 56% D 50% D 45% 26 4 th 10 of 91 16 of 74 23 of 130 23 of 116 25 of 124 32 of 141 24 of 135 19 of 138 27 of 144 21 of 75 3.97 Y 11 % Y 22% Y 18% Y 20% Y 20% Y 23% Y 18% Y 14% Y 19% Y 14% 28 D 65% D 66% D 69% D 71% D 69% D 66% D 62% D 58% D 53% D 48% 5 th 18 of 70 10 of 37 15 of 87 24 of 115 23 of 132 29 of 138 27 of 156 28 of 160 42 of 190 29 of 75 Y 26% Y 27% Y 17% Y 21% Y 17% Y 21% Y 17% Y 18% Y 22% Y 17% 4.20 D 68% D 70% D 73% D 73% D 71% D 68% D 67% D 64% D 63% D 60% 31

Discount Rate Comparisons, New Freshmen – Fall 2014 New American Colleges & Universities (NAC&U) and Applied Policy Research (APR) Clients Number of Schools by discount range 14 Valpo 13 12 10 9 8 7 6 6 4 2 0 less than 50% 50% to 55% 55% to 59% 60% and over

NAC&U Schools – Comparison of Key Indicators (discount factors) Schools 25 total State ACT Schools 25 total State ACT Belmont University TN 26.5 University of Scranton* PA 24.5 VALPO IN 26.2 Wagner College NY 24.5 Ohio Northern University OH 26.0 California Lutheran University CA 24.0 University of Evansville* IN 26.0 Hamline University* MN 24.0 Samford University* AL 25.5 St. Edwards University TX 24.0 Arcadia University PA 25.0 University of La Verne CA 22.5 Drury University MO 25.0 University of New Haven CT 22.5 25.0 22.5 Manhattan College NY Widener University PA Pacific Lutheran University WA 25.0 Hampton University VA 20.5 University of Redlands* CA 25.0 Nazareth College NY n/a Westminster College UT 25.0 Roger Williams University RI n/a John Carroll University* OH 24.5 Sage Colleges NY n/a North Central College IL 24.5 *board-approved peer school list Data from College Scorecard, College Xpress, and Peterson's Guide

NAC&U Schools – Comparison of Key Indicators (discount factors) Schools 25 total State Out of Schools 25 total State Out of State State Roger Williams University RI 82% Manhattan College NY 29% Hampton University VA 78% Hamline University* MN 21% Belmont University TN 66% Pacific Lutheran University WA 21% Samford University* AL 65% California Lutheran University CA 19% 61% 19% University of New Haven CT University of Redlands* CA University of Scranton* PA 60% Drury University MO 15% VALPO IN 59% Ohio Northern University OH 13% Wagner College NY 54% St. Edwards University TX 12% University of Evansville* IN 46% Sage Colleges NY 9% 43% 7% Arcadia University PA Nazareth College NY Widener University PA 40% North Central College IL 7% Westminster College UT 38% University of La Verne CA 4% John Carroll University* OH 31% *board-approved peer school list Data from College Scorecard, College Xpress, and Peterson's Guide

NAC&U Schools – Comparison of Key Indicators (discount factors) Schools 25 total State Ethnic comments Schools 25 total State Ethnic Diversity Diversity Hampton University VA 96% University of New Haven CT 19% 93% Afr. Am. University of La Verne CA 63% 48% Hispanic North Central College IL 17% St. Edwards University TX 47% 37% Hispanic Westminster College UT 17% University of Redlands* CA 41% 26% Hispanic Belmont University TN 16% California Lutheran University CA 40% 25% Hispanic Samford University* AL 16% Manhattan College NY 28% 18% Hispanic University of Scranton* PA 15% Sage Colleges NY 28% Nazareth College NY 14% Widener University PA 26% John Carroll University* OH 12% Arcadia University PA 25% Drury University MO 11% Hamline University* MN 24% Ohio Northern University OH 11% Pacific Lutheran University WA 24% Roger Williams University RI 10% Wagner College NY 21% University of Evansville* IN 10% VALPO IN 19% *board-approved peer school list Data from College Scorecard, College Xpress, and Peterson's Guide

Admission and Financial Aid Timeline Fall 2016 Enrollment Fall 2017 Enrollment July 2015 – March 2016 prospective July 2016 – March 2017 prospective students submit applications. students submit applications. September 2015 – April 2016 – rolling September 2016 – April 2017 – rolling admission. Students notified of admission. Students notified of admission and academic scholarship admission and academic scholarship January – March 2016 – families file October 2016 to March 2017 – families FAFSA file FAFSA (change in timing) February – April 2016 – financial aid December 2016 – April 2017 – financial award letters sent aid award letters sent (change in timing) May 1, 2016 – students deposit to May 1, 2017 – students deposit to indicate intent to enroll in the fall indicate intent to enroll in the fall Note: this chart represents the typical time frame, but can be extended into the summer for late applicants

Scholarship Changes Quintile Middle GPA Middle ACT 2014 2015 2016 1 st 3.25 22 0 $10,000* $15,000* $12,000 $14,000 $18,000 2 nd 3.57 24 $11,000 $13,000 $17,500 $15,000 $17,000 3 rd 3.77 26 $19,000 $14,500 $16,500 $16,000 $18,000 4 th 3.97 28 $20,000 $15,500 $17,500 $19,000 $20,500 $21,000 5 th 4.20 31 $18,000 $19,500 $20,500 *top third of quintile