It Is Financial Aid Time!

John W. Dysart
President
The Dysart Group, Inc.

It is the first month of the new year and it is time to send financial aid award letters. Check with your Director of Financial Aid and ensure that award letters for Fall 2011 are already being sent to both new and returning students.

I am amazed at the number of colleges and universities that have not made early financial aid processing a campus priority. Showing students and their families how they can afford to attend or re-enroll at your institution is critically important. This has always been true as the cost of higher education continues to escalate. It is, perhaps, more important than ever given economic uncertainty, high unemployment rates, market declines and cuts in state funding.

Make sure that award letters are being sent and accept no excuses for delay.

New tuition rates do not have to be announced in order to package students.

Software delays can be overcome by manual packaging.

There is no need to delay packaging for students selected for verification.

There is no need to wait for the publication of Spring grades in order to award currently enrolled students.

See to it that your Financial Aid Office is being proactive in encouraging all students, new and returning, to apply for financial aid.

Written reminder letters should be mailed encouraging families to complete the FAFSA.

Email messages can be utilized in addition to letters or postcards.

Many Financial Aid Offices are having success using text messaging to encourage students to apply for financial aid.

Telephone calls should be placed to currently enrolled students and admission applicants who have not applied for financial aid.

Challenge your Financial Aid Office to streamline the process of applying for financial aid.

Eliminate institutional financial aid applications.

Cease requiring tax returns of anyone not selected for verification.

Do not require students to return signed award letters.

This is a critical time for students and families. Understand that financial aid is going to play an important role in determining who enrolls and who re-enrolls at your institution. Ensure that you are doing everything possible to facilitate the application process for all of your students.