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We’re live with EAB’s @CM_Hubbard at #CONNECTED20 as she shares the latest strategies to improve student financial support on campus. Follow along for some of our favorite insights:
Many students face financial pressures—and with the pandemic, this pressure has only increased. In fact, financial pressure is the leading cause of students leaving before graduation with 38% of dropouts citing financial pressure. #CONNECTED20
And when students leave #highered without a degree or credential the result can be devastating. The average student debt at the time of departure is $9,300—and on average, college dropouts have a 17% loan default rate. #CONNECTED20
But despite the importance of finances to persistence, financial aid is not included in student success organizations or aligned with student experience. Isolated and siloed student care serves no-one and can impact #edequity. #CONNECTED20
. @wiregrasstech streamlined their enrollment census to ensure fewer students miss out on aid. #FinAid office outreach to non-attending students creates an opportunity for students to re-engage & prevents non-responders from accruing additional debt from refunded aid #CONNECTED20
At @pittjohnstown, advisors conduct outreach and coaching during the add/drop period (incl. providing info about SAP definition and requirements) to students at risk of failing satisfactory academic progress (SAP) and losing aid. #CONNECTED20
44% of students who received this intervention met SAP requirements by fall 2020. #CONNECTED20
. @albertussocial created a “remove your hold week” where representatives from offices have tables set up during pre-registration week and offered incentives for students to learn about holds, removing stigma. #CONNECTED20
Having a single source of information clarifies where students should turn for help. #CONNECTED20
