Text Review
Here
FY15 Annual
Federal
Aid
Fact
Tool
Reduced
Loan Debt
TEACH
Grant
Financial
Literacy
Live Within
Your Means
Data
Scholarships
Office of Financial Aid
and Scholarships
WHAT’S
INSIDE
Dear Colleagues,
FINANCIAL AID NEWS
FY15 FACTS
FINANCIAL AID PROGRAMS
STUDENT LOAN INDEBTEDNESS
FINANCIAL LITERACY EXPANDING
SAMPLE AID PACKAGES
PROCESSING AND ADVISING
SPECIAL PROJECTS
STAFF RECOGNITION
2016-2017 SCHOLARSHIPS
The Office of Financial Aid and
Scholarships is pleased to present
the “FY15 Annual Review on Student
Aid”. This edition covers the 2014-2015
financial aid year (fall 2014, spring
2015, and summer 2015). The financial
aid programs offered at the University
of Northern Iowa are dedicated to
preserving student access to the university
through need-based aid, recruiting
academically talented students through
merit-based aid, and supporting the institution’s recruitment and retention
efforts. This report indicates the progress the Office of Financial Aid and
Scholarships has made regarding our strategic priorities. It has been a busy
and productive year.
Highlights in the report:
• Processed more than $112.5 million in assistance to more than 11,000
students and their parents
• Processed more than 18,500 financial aid application transactions
• Student loan indebtedness decreased 13% over the past five years
• Lowest student debt since 2006
• The 4th ranked public institution in the administration of the Federal
TEACH Grant
• Prior-prior year income data on the FAFSA
• Financial literacy efforts expanding
• Imaging is here!
• Creation of the Student Loan Management Center in MyUNIverse
Office of Financial Aid and Scholarships
105 Gilchrist Hall
Cedar Falls, Iowa 50614-0024
319-273-2700
Fax: 319-273-2320
www.uni.edu/finaid
Page 1 Photos: Eric Carlson, Nicole Lehman, Brian
Emery; story page 15
Nondiscrimination Policy Statement
The University of Northern Iowa does not
discriminate in employment or education. Visit
uni.edu/policies/1303 for additional information.
Financial aid is a highly regulated and sometimes complicated process. Our
staff takes great pride in assisting students and families through this process
with professionalism, respect and confidentiality. Feel free to contact me
directly with questions regarding the information in this report.
Joyce Morrow
Joyce Morrow
Director, Financial Aid and Scholarships
ABOUT THE OFFICE
MISSION
The mission of the Office of Financial Aid and Scholarships
is to provide access to financial resources in a fair, sensitive
and confidential manner; to inform and educate students
and families about their financial options; and to continually
improve services so students may take full advantage of their
educational opportunities. The Office of Financial Aid and
Scholarships is committed to promoting and maintaining
integrity, accuracy and timeliness in compliance with applicable
laws, regulations and policies that govern federal, state,
institutional, and private funds in order to serve the maximum
number of UNI students.
AWARDING PHILOSOPHY
Our awarding philosophy is based on the recruitment goals
and objectives of the university’s strategic enrollment plan.
Students with the greatest need will receive a larger proportion
of available gift aid. Typically, need-based gift aid is awarded on
a first-come, first-served basis, providing assistance to as many
students as possible. In compliance with federal regulations, the
total financial aid awarded will not exceed the student’s cost of
attendance.
STAFF
• 14 staff (13.7 5 FTE), 2 graduate assistants, and 25+ student
employees
• Seven of ten (70%) professional staff with masters degrees
• 158 years of combined experience in financial aid
QUICK FACTS
• 11,238 FAFSA applications
• $112.5 million in aid awarded
• 91% of all UNI students receive aid
• Average undergraduate loan indebtedness upon graduation
is $22,313
• Three-year default rate of 4.0% compared to the Iowa
average of 13.1% and national average of 11.8%
• 28% of undergraduate students receive Pell Grants
• More than 3,900 UNI student employees earned more
than $11.5 million through work study, departmental
employment and graduate assistantships
• 26% first generation students
1
2
FINANCIAL AID NEWS
PERKINS
LOAN
PROGRAM
WIND-DOWN OF THE
FEDERAL PERKINS LOAN
PROGRAM
The Perkins Loan Program is scheduled
to expire on September 30, 2015. The
long-term outlook for the program is
uncertain and will be dealt with during
reauthorization of the Higher Education
Act. In the meantime, these provisions
have been made:
• Perkins Loans can be offered to all
students that qualify until September
30, 2015.
• Between October 1, 2015 and
September 30, 2020, only
grandfathered students who meet
specific requirements can be
awarded: received a Perkins Loan
prior to July 1, 2015; have the same
major; have a qualifying EFC; and
have been offered a Direct Subsidized
Loan.
The grandfathering provision applies
only to students who received a Perkins
Loan for award years 2014-2015 or
earlier. A student who received a Perkins
Loan for the 2015-2016 final award year
of the program will not be an eligible
grandfathered student to receive loans
beyond the 2015-2016 award year,
unless Congress intervenes and restores
the program.
PRIOR-PRIOR YEAR
INCOME DATA ON THE
FAFSA
President Barack Obama took executive
action to allow the use of prior-prior
year (PPY) tax information on the Free
Application for Federal Student Aid
(FAFSA), a move long-called for by the
aid administrators and others in the
higher education community. Using
two-years prior tax information on the
FAFSA (as opposed to one-year prior
information) will increase the form’s
accuracy and give families an earlier and
more accurate idea of their anticipated
financial aid and college costs.
With the switch to PPY, students and
families will be able to:
• File the FAFSA earlier. The FAFSA
is made available January 1 of each
calendar year, yet it is uncommon for
a family or individual to be prepared
to file an income tax return in the
month of January. Under the new
PPY system, the 2017-18 FAFSA will
be available in October 2016, rather
than January 1, 2017, and students
can use the PPY’s completed income
tax return.
• More easily submit a FAFSA. The
IRS Data Retrieval Tool (DRT), which
allows automatic population of a
student’s FAFSA with tax return data
and decreases the need for additional
documentation, can be used by
millions more students and families
under PPY, since tax data from twoyears prior would be readily available
upon application.
• Receive earlier notification of
financial aid packages. If students
apply for aid earlier, colleges
can in turn provide financial aid
notifications to students earlier,
ensuring that students and families
have more time to prepare for
college costs. Early notification also
means more time for financial aid
administrators to counsel students
and families.
IOWA GRANT PROGRAM
FUNDING ELIMINATED
The Iowa Grant Program was not funded
in the fiscal year 2016 State of Iowa
budget. The Iowa Grant was available to
assist Iowa students attending Regent
universities, independent colleges and
universities, and community colleges
throughout Iowa. Priority was given to
students whose parent was a public
safety worker killed in the line of
duty. The maximum grant for priority
recipients was the average resident
tuition rate at Iowa Regent universities.
The maximum grant for non-priority
recipients was $1,000 per year for up to
four years of full-time, undergraduate
study. In 2014-15, the Iowa Grant served
112 UNI students with $89,726. The
program has been in place since 1991.
SEQUESTRATION
IMPACT OF THE BUDGET
CONTROL ACT OF 2011
The Budget Control Act of 2011 is a
federal statute that brought conclusion
to the U.S. debt-ceiling crisis of 2011.
However, colleges are still experiencing
the federal budget cuts, known as the
“sequester” by raising loan fees and
cutting grant and work study funding.
The Federal TEACH Grant funding
disbursed after October 1, 2015 will
be cut 6.8% from $4,000 to $3,728
per student. Direct Subsidized and
Unsubsidized Loan origination fees
will change from 1.073% to 1.068%.
Origination fees for Direct PLUS
Loans will change from 4.292% to
4.272%. These small mid-year changes
cause hours of processing issues for
universities and confusion for students
and parents.
FY15 FACTS
2014-15
FACTS
Column1
Undergraduate
Total Aid Disbursed
$98,798,845
$13,727,022
$112,525,867
88%
12%
100%
Aid Recipients (Unduplicated)
9,244
1,255
8,282
962
10,499
1,711
1135
1,093
9,375
1,576
1053
162
1,124
135
82
91%
70%
88%
95%
92%
Average Aid Accepted
$10,688
$10,938
$10,717
$11,674
$9,990
Average Need
$13,936
$17,413
$13,413
$14,165
2,241
45
555
216
$3,672
$13,710
$0
$6,141
$78,176
$53,642
84%
70%
29%
35%
Number of Students with No Financial Need
Median Student AGI
Median Parent AGI
$71,089
Percent with Gift Aid (Grants/Scholarships)
68%
Percent with Pell Grants
28%
66%
$5,284
$3,453
$5,074
$6,060
$4,266
Percent with Student Loans
61%
34%
57%
62%
70%
Average Student Loan
$6,834
$12,308
$7,314
$6,078
$7,069
Average Parent Loan
$8,394
$8,953
$8,229
1,329
334
136
Average Debt Upon Graduation
83%
83%
84%
Percent Employed on Campus
12,513
85%
12,260
$22,313
$24,519
85%
35%
86%
13,201
83%
13,168
24%
13,080
12,908
12,609
84%
36%
87%
22%
88%
12,273
12,159
11,928
33%
14,000
000
83%
12,513
12,260
84%
85%
85%
12,609
12,908
13,080
86%
13,201
83%
13,168
84%
87%
88%
12,273
12,159
11,928
10,571
83%
000
10,287
PERCENTAGE OF STUDENTS RECEIVING AID
000
2006
2007
2007
2008
2009
Receiving Aid
2010
2010
Not Receiving Aid
Not Receiving Aid
2012
2013
2012
2014
Total Enrollment
2015
Total Enrollment
1,588
2014
1,429
10,499
10,571
10,499
2013
1,429
1,986
1,588
1,986
2,184
10,287
10,984
10,984
2011
2011
2,184
1,913
1,913
2,024
2,024
1,930
1,930
2008
2009
Receiving Aid
11,056
11,056
10,978
10,978
10,200
2006
2,040
0
2,040
2,000
2,060
2,060
4,000
2,104
6,000
10,409
8,000
10,569
10,569
10,200
10,409
10,000
11,288 11,288
12,000
2,104
0
50%
Average Grant/Scholarship
Number of Parent Borrowers
000
New Transfers
$11,339,123
Percentage of Students Receiving Aid
000
First-time,
Full-time
Freshmen
$19,974,850
Non-Resident
000
All Students
Percentage of Aid Disbursed
Resident
000
Graduate
3
2015
4
$112.5 MILLION IN AID
CATEGORIES OF FUNDS
SOURCE OF FUNDS
Loans . . . . . . . . . . . . . . . . . . . . . . . . . . . . $61,221,728
Grants & Scholarships . . . . . . . . . . . . . . . . . . $39,780,828
Employment . . . . . . . . . . . . . . . . . . . . . . . $10,864,276
Work Study . . . . . . . . . . . . . . . . . . . . . . . . . . $659,036
Federal . . . . . . . . . . . . . . . . . . . . . . . . . . . $72,852,060
Institutional . . . . . . . . . . . . . . . . . . . . . . . . $25,604,517
Private . . . . . . . . . . . . . . . . . . . . . . . . . . . . $7,298,852
Foundation . . . . . . . . . . . . . . . . . . . . . . . . . $4,343,036
State . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $2,427,403
Work Study
0.6%
State
2%
Employment
10%
Loans
54.4%
Federal
65%
Institutional
23%
Grants &
Scholaships
35%
Foundation
4%
Other Sources
6%
ons
90
80
70
10
YEAR
$74
HISTORY
$81
$76
$74
$68
$90
50
$80
10
$25
$60
$40
$10
$10
$30
$20
$10
$-
$25
$11
$10
$26
$10
$37
$32
$29
$11
$11
$76
$40
$40
$39
$12
$11
$11
$11
$81
$81
$37
$32
$29
$26 $50
$81
$76
$74
$74
$70
40
20
$76
$6
Millions
60
30
$81
$81
$39
$38
$12
$12
$12
$38
$65
$68
$37
$61
$40
$11
$11
$37
$11
$12
$11
$-
2006
2007
2006
2007
2008
2008
2009
2009
Student Employment
Student Employment
2010
2010
2011
20112012
Grants/Scholarships
Grants/Scholarships
2013
2012
Loans
2014
2015
2013
Loans
2014
FINANCIAL AID PROGRAMS
2013-2014
TOTAL
Institutional & Private Gift Aid
Institutional Scholarships/Grants
Corporate/Private Scholarships
Athletic Scholarships
Federal & State Grants
Federal Pell Grant
Supplemental Education Opportunity Grant
TEACH Grant
ROTC
Other Federal Grant/Scholarship Programs
All Iowa Opportunity Scholarship
IMAGES Grant
Iowa Grant
Vocational Rehabilitation
Commission for the Blind
National Guard
Other State Grants
Loans
Federal Perkins
Direct Loans
Private Education Loans
Employment
Federal Work Study
Graduate Teaching, Research Assistantships
UNI Employment
*Number of
Awards
36,503
12,453
7,529
4,605
319
5,331
2,807
529
566
13
666
27
197
94
140
3
92
197
14,405
806
13,091
508
4,314
418
352
3,544
5
2014-2015
Amount
$112,826,725
$21,860,724
$12,780,359
$5,675,040
$3,405,325
$15,527,090
$10,250,573
$489,402
$1,718,098
$87,192
$1,287,711
$189,314
$332,200
$88,432
$341,533
$27,603
$471,058
$243,974
$64,608,323
$1,416,435
$59,538,766
$3,653,122
$10,830,588
$628,607
$2,356,614
$7,845,367
Mean
$3,091
$1,755
$1,697
$1,232
$10,675
$2,913
$3,652
$925
$3,036
$6,707
$1,934
$7,012
$1,686
$941
$2,440
$9,201
$5,120
$1,238
$4,485
$1,757
$4,548
$7,191
$2,511
$1,504
$6,695
$2,214
*Number of
Awards
39,296
14,223
8,249
5,662
312
5,730
2,850
492
541
14
842
51
197
111
144
3
96
389
14,959
1,052
13,342
565
4,384
451
333
3,600
Amount
$112,525,868
$22,823,143
$12,456,621
$6,872,951
$3,493,571
$16,957,685
$10,697,581
$461,066
$1,727,315
$111,576
$1,532,745
$365,820
$332,200
$89,726
$458,247
$19,662
$503,762
$657,985
$61,221,728
$1,810,025
$55,770,767
$3,640,936
$11,523,312
$659,036
$2,398,862
$8,465,414
Mean
$2,864
$1,605
$1,510
$1,214
$11,197
$2,959
$3,754
$937
$3,193
$7,970
$1,820
$7,173
$1,686
$808
$3,182
$6,554
$5,248
$1,691
$4,093
$1,721
$4,180
$6,444
$2,628
$1,461
$7,204
$2,352
*Number of awards NOT head count
First Generation Students
10,142
2,604
26% First Generation
Students
2,221
85% of First Generation
Received Aid
1,692
0
All Undergraduate
Students
65% of First Generation
With Need
5,000
10,000
6
FINANCIAL AID PROGRAMS
SCHOLARSHIPS
12,009 awards totaling
$22.2 million
5,586 recipients
TEACH
GRANT
Teaching Majors
If you’ll be teaching !
in a high-need fiel
d
of study and in a
low
you need to know –income school,
about:
TEACH Grants!
2015-2016
Scholarships are coordinated by several
offices, including Office of Financial Aid and
Scholarships, Admissions and individual
departments and colleges. The University
Scholarship Application is the application used
by students to apply for all undergraduate
scholarships.
• 4,117 UNI Scholarship Applications
submitted
• 971 different scholarship accounts
• 3,047 hometown scholarships
The University of Northern Iowa
TEACH Grant reci
pients can receive
up
to $4,000/year
for four years as
an
undergraduate and
(UNI) has actively participated in
two years as a grad
uate.
To qualify for
the Federal Teacher Education
a federal
TEACH Grant you
must:
Assistance for College and
Higher Education (TEACH) Grant
since its inception six years
ago. The program is designed
for students planning to teach
in a high-need field in a lowincome school, and provides up
to $4,000 per year, four years
as an undergraduate student
and two years as a graduate
student. Since the program
began, 1,443 UNI students
have received more than $11.5
million. During 2014-15, 488 students took advantage
of the program, totaling $1.7 million. Some of the high-need fields of study
being pursued are Math, Sciences, Foreign Languages, TESOL, Technology
Education, and Special Education. At the national level, UNI is currently the
#4 public university in administering the TEACH Grant. The grant has played a
vital role in providing access to higher education at UNI. Unlike the national
trends, UNI students are fulfilling their TEACH Grant service obligations and/or
paying the TEACH loan in full (see data below).
Be a U.S. citizen or
eligible non-citizen
Complete the FAFS
A
Score above the 75th
percentile on colleg
(ACT or SAT) or maint
e admissions test
ain a GPA of at least
3.25
Be enrolled as an
undergraduate (first
B.A. only) or gradu
Be enrolled in cours
ate
ework that is neces
sary to begin a caree
teaching in an identifi
r in
ed high-need field
Sign an agreement
to teach full-time in
a low-income schoo
in a high-need field
l and
for four academic
years within eight
years after gradu
calendar
ation
Contact the UNI Office
of
at 273-2700 for more Financial Aid and Scholarships
information about
the TEACH Grant.
Undergraduate
UNI Major & Min
or Codes that
qualify for TEAC
H Grant considera
tion
*Basic
21B
21I
22J
22K
22T
33K
33Y
• 411 athletes reviewed for NCAA compliance
SCHOLARSHIPS BY SOURCE
Institutional . . . . . . . . . . . . $10,552,187
Foundation . . . . . . . . . . . . $4,343,036
Private . . . . . . . . . . . . . . . . $3,657,916
State . . . . . . . . . . . . . . . . . $2,005,476
Federal . . . . . . . . . . . . . . . .$1,644,321
GRANTS
8,120 awards totaling
$17.6 million
4,277 recipients
Grants are gift aid (no repayment required)
generally awarded to undergraduate
students who demonstrate financial need
based on filing the FAFSA.
Federal Pell Grant . . . . . . $10,697,581
University Grants . . . . . . $4,270,004
Federal TEACH Grant . . . . . $1,727,315
SEOG . . . . . . . . . . . . . . . .$461,066
IMAGE Grant . . . . . . . . . . .$332,200
Iowa Grant . . . . . . . . . . . . $89,726
Teacher Education
Assistance for
College and Higher
Education Grant
629
692
694
697
Data as of 8-21-2015
Currently With Grant (either in school or
working on teaching obligation)
Science (K-8)
698
TESOL/Spanish
*Mathematics (K-8)
780
^Spanish
*Instructional Strate
gist
800
^Mathematics
*Early Childhood Specia
l
82J
Middle/Junior
Education
*Teach Students
High School Scienc
With Visual
e
82A
All Science Teachi
Impairments
ng
844
^Biology
Technology & Engine
ering
865
Chemistry
Education
870
^Earth Science
*Technology Educa
tion880
Physic
Teaching
s
88H
Physics Teaching
^Teach English to
- Honors
Speakers of
Research
Other Languages
TESOL/French
*Indicates Minor
TESOL/German
only
^Indicates Major
TESOL/Russian
or Minor
Head Count
1097
Graduate UNI Majo
r Codes that qual
ify
for TEACH Grant
consideration
21Q
22S
241
242
244
353
62T
696
78T
80A
80K
821
827
828
Literacy Education
Special Education
Teacher/Students
With Visual Impair
ments
Special Education:
Field Specialization
Special Education:
Career/Vocationa
l
Programming & Transi
tion
School Library Studie
s
Teaching English to
Speakers of Other
Languages
TESOL/Spanish
Spanish: Teaching
Empha
Math for Middle Grade sis
s (4-8)
Mathematics: Secon
dary
Science Education
Science Education:
Earth Science Educa
tion
Science Education:
Physics Education
Percentage of Total
76.0%
Completed Teaching Obligation
19
1.3%
Converted to Loan
242
16.8%
Paid Loan in Full
79
5.5%
Defaulted Loan
Total Head Count
6
0.4%
1443
100%
*A TEACH grant becomes an Unsubsidized Loan when a student is unable to fulfill the
teaching obligation (e.g. changes majors from a high-need field of study, unable to teach in a
low-income school, decides not to teach)
FINANCIAL AID PROGRAMS
Federal Work Study (FWS) is funded 75% by the federal government
and 25% by the institution. Awards are based on financial need. FWS
includes the Federal Community Service Learning (CSL) component.
CSL allows students to work at various community nonprofit
agencies dedicated to improving community living. Students are
paid through UNI. The nonprofit organizations handle 25% percent of
the earnings. The program is available in the fall and spring semesters
only.
Percentage of Work Study
Dollars Used for CSL
60%
40%
20%
20
14
-1
5
20
12
-1
3
20
10
-1
1
20
08
-0
9
0%
20
06
-0
7
FWS
7
STUDENT EMPLOYMENT TYPES
$11,523,312 earned by 3,953 students
Departmental Employment * ���������������������������������������������������������$8,465,414
Graduate Assistantships . . . . . . . . . . . . . . . . . . . . . . . $2,398,862
Federal Work Study . . . . . . . . . . . . . . . . . . . . . . . . . . . $659,036
*Departmental Employment is available to students regardless of
financial need and paid entirely by the hiring department.
Undergraduate Student Employment Averages
• Average hours worked per week . . . . . . . . . . . . . . . . 8.9 hrs.
• Average wage per hour . . . . . . . . . . . . . . . . . . . . . . . .$7.75
• Average wages earned per academic year . . . . . . . . . . .$2,344
LOANS
14,959 awards totaling
$61.2 Million
6,899 recipients
YEAR
2012
UNI
STATE
4.0%
Federal Direct Unsubsidized ������������������������������� $27,257,670
Federal Direct Subsidized������������������������������������� $17,044,086
Federal Parent Loan (PLUS)���������������������������������� $11,156,228
Private Education Loan ��������������������������������������������$3,640,936
Federal Perkins . . . . . . . . . . . . . . . . . . . . .$1,810,025
Federal Graduate PLUS Loan������������������������������������� $312,783
Percent of Undergraduates Graduating
With debt . . . . . . . . . . . . . . . . . . . . . . . . . . . 71.6%
Without debt . . . . . . . . . . . . . . . . . . . . . . . . . 28.4%
Undergraduate Student Loan Indebtedness
Average . . . . . . . . . . . . . . . . . . . . . . . . . . .$22,313
Median . . . . . . . . . . . . . . . . . . . . . . . . . . . .$21,750
NATIONAL
13.1%
PUBLIC 4-YR
11.8%
7.6%
THREE-YEAR DEFAULT RATE
13.1%
UNI
11.8%
STATE
7.6%
4.0%
NATIONAL
PUBLIC 4-YR
STUDENT LOAN INDEBTEDNESS
IOWA’S MOST
AFFORDABLE
UNIVERSITY
WITH $22,313
AVERAGE DEBT AT
GRADUATION
Breaking away from national
trends in student borrowing,
the University of Northern Iowa
has seen its average student
loan indebtedness decrease by
13.3% over the past six years.
The average UNI undergraduate
student now graduates having
borrowed $22,313, down from
$25,735 in 2010. The overall
decline in borrowing can be
attributed to: additional private
loan counseling, TEACH Grant
recipients, financial literacy
efforts, and more students
completing degree programs in
four years.
$30
Thousands
8
$3,422 (13.3%)
decrease in debt since 2010
$26
$24
$25
$20
$20
$22
$24
$26
$23
$24
$23
$23
2012
2013
2014
$22
$18
$15
$16
$17
$15
$10
$5
$0
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2015
Loan Indebtedness $15,439 $16,013 $16,716 $18,397 $20,239 $21,561 $22,541 $24,176 $24,123 $25,735 $25,523 $23,575 $23,151 $23,163 $22,313
PRIVATE LOAN COUNSELING
In 2007-08, the Office of Financial Aid & Scholarships started one-on-one counseling
for students seeking private loans. Private education loan borrowing has decreased
from $15.3 million in 2007-08 to $3.6 million today (77% decrease). The average
private education loan debt upon graduation is $13,614 compared to $17,892 in
2009-10 (24% decrease). The number of students borrowing private education
loans has also decreased; 178 students graduated with private education loan debt
compared to 597 in 2009-10 (70% decrease).
Financial
Literacy
Private Education Loan History
$18
$16
$15.1
Private Loan
Counseling
TEACH
Grants
$9.7
$10
$6
$7.4
$7.2
$8
$6.0
$4.3
$3.9
$4
Millions
$3.0
$3.0
$3.4
$3.7
$3.6
$2
$0
15 Credits
per Term
$11.4
$12
Lower
Debt
$15.3
$13.5
$14
2001
2003
2005
2007
2009
2011
2013
2015
FINANCIAL LITERACY EXPANDING
FINANCIAL LITERACY AT UNI
The overall purpose of the literacy program is to educate
students on the importance of living within their means
while they are in school, ultimately reducing student loan
indebtedness.
BACKGROUND
One of the University of Northern Iowa’s most significant
goals continues to make the education we offer affordable
to students and their families. We are working to continue
to reduce the debt of our graduates. We are proud that we
have reduced the average student loan debt by 13% over
the past six years, bucking the national trend. Still, 72% of
undergraduates who completed their degrees last year left
UNI with student loan debt averaging $22,313. It is clear there
is more work to be done.
Five years ago, staff in the UNI Office of Financial Aid and
Scholarships incorporated materials and concepts from the
National Endowment for Financial Educators (nefe.org) to
address that students attending Iowa colleges were
graduating with the highest average student loan debt in
the nation. Money management counseling, workshops and
courses were established to create a financial literacy program
on campus. With a theme “Live Like a Student”, the program
is designed to educate students on the importance of living
within their means while they are in school so they don’t have
to live like a student later in life. Various topics are covered
and delivered through many methods (e.g. non-credit literacy
seminar, academic classes, group workshops, one-on-one
appointments); all reinforce the point that more informed
decision making today will positively affect a student’s
financial future.
The number one contributor to the reduction in loan debt
at UNI over the past five years is our private loan counseling
initiative. In 2007-08, we required one-on-one counseling
9
for students seeking private loans, a small segment of the
total students receiving financial aid. By guiding students
through a structured and intentional hour-long session
where they learn the true implications of their decisions,
behavior has changed. We can confidently say this approach
has been effective.
The Office of Financial Aid and Scholarships’ efforts result
from dedicating 25% of the associate director’s time and the
work of two graduate assistants at 20 hours each per week
to the “Live Like a Student” initiative. This past academic year,
more than 158 courses, workshops and presentations were
conducted with more than 1,800 students in attendance. All
of this was accomplished through a small operating fund
carved out of the Office of Financial Aid and Scholarships
budget. However, money is not available to further expand
the program.
HIGHLIGHTS OF ACCOMPLISHMENTS
•
Lowered student debt from more than $26,000 to
$22,313.
•
One of the primary services available through the
“Live Like a Student” campaign is a free, three-week
(six sessions total) non-credit financial literacy seminar.
During 2014-15, more than 140 students completed the
seminar.
•
Concepts have been incorporated into the Cornerstone
course, a year-long, first-year course that integrates
writing, speaking, civility and student success within a
vibrant classroom community.
•
Raised awareness of the “Live Like a Student” initiative
by bringing a motivational speaker, Adam Carroll, to
campus. Adam is the co-author of Winning the Money
Game. The goal was to change the way students look at
money. More than 150 students and staff attended.
10
FINANCIAL LITERACY EXPANDING
•
Since implementing the one-on-one counseling, private
education loan borrowing has dropped (76% decrease)
from $15.3 million in 2007-08 to $3.7 million today. The
average private education loan debt upon graduation
has decreased from $17,892 in 2007-08 to $12,047 (33%
decrease). The number of students graduating with
private education debt has decreased from 597 to 230
(62% decrease).
•
Promotion of the online Federal Financial Awareness
Counseling Tool (FACT). More than 300 students
completed FACT during the spring 2015 semester.
Based on the positive feedback from students, the Office
of Financial Aid and Scholarships is planning to include
the FACT as an offering within the student information
system in the 2015-16 academic year.
•
The Student Loan Management Center was created
within MyUNIverse online portal. This allows students
easy access to all federal loan information including
loan balances and history, repayment calculators, loan
servicer information and the FACT Tool.
•
Due to the success of our financial literacy initiatives,
Tim Bakula, associate director, has presented on the
“Live Like a Student” program at state and national
financial aid conferences. Tim was also recognized for
his efforts with the 2012 Staff Excellence Award given by
the Board of Regents, State of Iowa.
EXPANDING EFFORTS
An even greater need for financial literacy is with the Pelleligible and first-generation college student population.
Twenty-eight percent of UNI undergraduate students are
Pell eligible and approximately 26% are first generation.
Both populations of students are in need of additional
financial literacy efforts to keep borrowing down. We intend
to stay ahead of the curve by creating a four-year literacy
plan. We will continue our current efforts with private loans
and expanding our financial literacy initiatives reaching
out to students at key points in their four years at UNI. The
plan will include targeted activities and counseling preenrollment, during orientation, each academic year and
post-enrollment (alumni and/or students that stop out).
Examples of targeted activities include: additional group
workshops covering topics that include learning financial aid
basics, what it means to borrow, living within their means,
paying bills on time, workplace benefits, investing, buying a
home, and loan repayment options. Other activities, such as
direct calling first-generation students at key informational
times and summer orientation activities will be developed
and/or enhanced. Each activity will be evaluated for specific
outcomes. If successful, our literacy plan will be offered to all
UNI students.
OBJECTIVE MOVING FORWARD
To build on the success of the “Live Like a Student” initiative,
the UNI Office of Financial Aid and Scholarships would like
to add at least one full-time financial literacy counselor
to expand the program capacity. The literacy counselor
would be heavily involved in all aspects of the financial
literacy efforts and counseling. We continue to work with
administration and the UNI Foundation to generate funding
to assist us with our literacy efforts and needs.
Adam Carroll on the Money Game
Adam Carroll, motivational speaker and co-author
of Winning the Money Game, delivered an excellent
message to 150 students, faculty and staff. The goal is
to change the way students look at money by openly,
candidly and honestly talking about the subject still
largely considered taboo. Adam believes that by
learning and understanding the “rules” you can win
the game we all play with money.
PRE-REQS TO
SUCCESS
• Learn how to GET PAID to go to college
• Blast away debt in months, not years
• Discover how to guarantee a multi-million dollar retirement
• You'll laugh your way to the bank!
MEET THE AUTHOR
DATE/TIME:
PLACE:
SAMPLE AID PACKAGES
11
The following are financial aid packages for full-time, Iowa resident, dependent students. Families might receive more or less
aid than shown, depending on their financial circumstances. EFC refers to Expected Family Contribution as determined by the
completion of the Free Application for Federal Student Aid (FAFSA).
2014-15 COST OF ATTENDING
Tuition/Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . $7,750
Room/Board . . . . . . . . . . . . . . . . . . . . . . . . . . . $8,046
Books/Supplies . . . . . . . . . . . . . . . . . . . . . . . . . . $900
Personal Expenses/Transportation . . . . . . . . . . . . . $2,184
TOTAL . . . . . . . . . . . . . . . . . . . . . . . . . . . $18,880
FAMILY INCOME
<$30,000
FAMILY INCOME FROM
$30,000 TO $60,000
FAMILY INCOME FROM
$60,000 TO $90,000
524 students had family incomes of
less than $30,000. For families in this
income range, the mean EFC was $274
and the median EFC was $0.
1,061 students had family incomes
from $30,000 to $60,000. For families
in this income range, the mean EFC was
$4,179 and the median EFC was $2,268.
1,345 students had family incomes
from $60,000 to $90,000. For families
in this income range, the mean EFC
was $10,564 and the median EFC was
$7,684.
Contribution to Total Cost
Contribution to Total Cost
Contribution to Total Cost
14%
11%
26%
46%
29%
Grants/Scholarships… $8,739
Student Loans . . $5,500
Student Work . . $2,000
Parent Loan/Other Resources . . $2,641
34%
38%
11%
29%
Grants/Scholarships… $6,528
Student Loans . . $5,500
Student Work . . $2,000
Parent Loan/Other Resources . . $4,852
22%
29%
11%
Grants/Scholarships… $4,115
Student Loans . . $5,500
Student Work . . $2,000
Parent Loan/Other Resources . . $7,625
PROCESSING AND ADVISING
12
AID
PROCESSING
Once a student completes the Free
Application for Federal Student
Aid (FAFSA), results are transmitted
electronically to the university.
Verification is completed on files
identified by the federal processor and any applicant with
special situations. Typically 90% of initial awards are made
by the first day of the fall semester. Revisions and aid
adjustments continue throughout the academic year.
• 11,238 FAFSA applications
• 18,595 FAFSA transactions
• 2,900 applications selected for verification
• 10,188 students offered aid
ACADEMIC PROGRESS
To comply with federal regulations, all federal aid recipients
must maintain satisfactory academic progress (SAP). Students
who fail to meet specified standards are suspended from
financial aid eligibility.
• 1,052 students suspended from aid
• 251 appeals reviewed
FINANCIAL AID ADVISING
Student employees handle the majority of the telephone
calls, reception visits and emails.
• 23,857 telephone calls to the general office number
• Roughly 8,000 reception visits
• 10,499 students with paid aid
• 9,847 award revisions (e.g. additional aid, loan
adjustments)
• 11,656 documents requested with 9,580 submitted
• 135 requests for aid adjustments due to unusual
circumstances. Primary situations:
• 32 with medical issues
• 94 with natural disaster/loss of income
• 2,097 students awarded summer aid
• 372 student records reviewed for return of Title IV aid or
repeated coursework
• 182 students completing consortium agreements for aid
eligibility
• Approximately 5,000 emails answered on published
email address
• 2,349+ scheduled counseling appointments (does not
include walk ins)
WEB STATS
Top five financial aid web pages with the most unique page
views:
1. Scholarships . . . . . . . . . . . . . . . . . . . . . . . . . . . 31,058
2. Required Readings . . . . . . . . . . . . . . . . . . . . . . . 13,661
3. Applying for Aid . . . . . . . . . . . . . . . . . . . . . . . . . 5,101
4. Grants . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,770
5. Paying for College . . . . . . . . . . . . . . . . . . . . . . . . 4,681
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The Office of Financial Aid and Scholarships website provides an overview of all financial aid
programs and opportunities for students and their families.
The Net Price Calculator is a valuable planning tool for prospective students to learn more
about their potential cost of attendance at UNI. By following a few simple steps, a family
can gain an estimated net cost to attend UNI. The Financial Aid Required Readings
provides the most comprehensive printable resource available to students and parents. It is
included as a link within all award notifications and is available on the website throughout
the year. “How Much Aid to Accept” is a budgeting worksheet designed to assist students
determine how much aid they should accept from their award notification. This tool allows
users to consider all family contributions and gift assistance prior to borrowing student
loans. The Student Loan Management Site provides links to federal loan balances,
loan repayment estimator, loan servicer information and the FACT tool. The Financial
Awareness Counseling Tool (FACT) is an extremely effective tool which provides
information to help students understand their financial aid and help manage their finances.
PROCESSING AND ADVISING
13
STUDENT LOAN MANAGEMENT CENTER
The Student Loan Management page was created within MyUNIverse online portal to assist students with managing their student
loans. This allows students easy access to all federal loan information including loan balances and history, repayment calculators,
loan servicer information, and the FACT Tool.
FACT TOOL
IMAGING
The Office of Financial Aid and
Scholarships went live with OnBase
Imaging system on September 23,
2014. More than 30,352 documents
have been scanned and indexed into
the system. Workflows and forms have
provided easy access to documents
and efficiency processes.
Initially …….
Today …….
14
STAFF RECOGNITION
SUE FOLLON EXEMPLARY
SERVICE AWARD
RECIPIENTS
Heather Soesbe, associate director,
received the 2014 Regents Award for
Staff Excellence. The Regents Award
for Staff Excellence is presented by
the Board of Regents, State of Iowa,
annually to members of the Professional
and Scientific staff who are outstanding
university citizens and have rendered
significant service to their institution
and/or the state of Iowa. Heather was
recognized for her professionalism,
enthusiasm and leadership. Her
nominators highlighted her passion
for helping parents and students.
Heather was also recognized by the
Higher Education User Group (HEUG)
for her time served as the HEUG Young
Professional Group Chair from 2013 to
2015.
Eric Carlson, financial aid counselor,
(picture page one) was awarded
the Midwest Association of Student
Financial Aid Administrators (MASFAA)
Summer Institute Scholarship. This
award recipient is selected by the Iowa
Association of Student Financial Aid
Administrators (IASFAA) organization to
encourage members to receive quality
training and professional development.
Terry Hogan, VP of Student Affairs; Jenny
Connolly, Andrea Krafka, Tammi Dean
and Kristin Woods, recipients
The Sue Follon Exemplary Service Award
honors employees in the Division of
Student Affairs committed to quality
and excellence and whose efforts and
achievements are worthy of emulation.
Andrea Krafka and Tammi Dean, both
Clerk III, were recognized in 2015.
Felicia Carrillo, customer service
specialist, was awarded the Haywood
Legacy Scholarship at the Midwest
Association of Student Financial Aid
Administrators’ (MASFAA) Summer
Institute. This award is selected by
the MASFAA Summer Institute faculty
and given to one exceptional institute
student, representing minorities. The
award covered the cost of the MASFAA
conference and membership dues.
PRESENTATIONS AT
SPECIAL EVENTS
Joyce Morrow
• Annual Financial Aid Report at the April
2015 Board of Regents Meeting
Tim Bakula
• “Live Like a Student” at the 2014 Trio
Student Leadership Conference
• “Financial Aid Considerations While
Advising Students” at the 2015 UNI
Academic Advising Workshop
• “The State of Student Loans” at the
2015 Iowa ACT Conference
Heather Soesbe
Deb Bartels’ retirement marked
39 years of service to the University
of Northern Iowa. Deb managed
the federal loan programs and was
instrumental in implementing the
TEACH Grant Program at UNI. During her
years of service, she helped thousands
of students pursue their education.
• Created and facilitated HEUG Young
Professional Group Forum at the 2015
Alliance Conference
• Facilitated the HEUG Young
Professional Group Business Meeting
at the 2015 Alliance Conference
• “HEUG 101” at the MIDHEUG and
SEARUG Conferences
STAFF
15
NEW EMPLOYEES
Pictures on page 1.
Eric Carlson joined our team as a
financial aid counselor in February 2015.
Eric manages the administration of
private education loans and assists with
federal loan programs and the TEACH
Grant program. He counsels parents
and students on the various financial aid
programs and also conducts outreach
presentations during visit days and
orientation. Eric’s contact information is
Eric.Carlson@uni.edu or 319-273-2354.
Nicole Lehman joined our staff in
November 2014 as a financial aid
specialist. Nicole’s role includes
administering state, institutional,
external scholarships and grants.
She oversees the changes and
implementation of the University
Scholarship Application each year.
Nicole counsels students and parents on
financial aid and scholarships and also
participates in outreach events. Nicole’s
contact information is
Nicole.Lehman@uni.edu or 319-273-2386.
Brian Emery joined the Office of
Financial Aid and Scholarships in March
2015 as assistant director data/systems.
Brian serves as the functional lead for
OnBase Imaging. His role includes the
planning and development of financial
aid systems as well as trains and
provides guidance to full-time staff with
PeopleSoft and OnBase responsibilities.
He also assists with financial aid
counseling and outreach events. Brian’s
contact information is
Brian.Emery@uni.edu or 319-273-3055.
PROFESSIONAL STAFF
(Left to right) Back row: Renae Carrillo, assistant director/loans; Brian Emery,
assistant director data/systems; Tim Bakula, associate director; Eric Carlson,
financial aid counselor; Andrea Krafka, processing clerk. Second row: Nicole
Lehman, financial aid specialist; Heather Soesbe, associate director; April
Schmiesing, department secretary; Elizabeth Minard, assistant director/
scholarships. Front row: Felicia Carrillo, financial aid counselor; Joyce Morrow,
director; Evie Waack, financial aid counselor; Tammi Dean, processing clerk; Jill
Bevard, scholarship processing clerk.
STUDENT STAFF
(Left to right): Front row: Jenny Lynes, Shaley Landt, Katie Brooks, Isaac Ehlers,
Morgann Droegmiller, Brianna Bennett, Sara Bradley, Rylan Johnson. 2nd row:
Ange Rehnstrom, Juana Hollingsworth, Elizabeth Riehle, Alyssa McKeone, Jaimie
Thier, Paul Andersen, Cavan Finn, Alex Maravetz, Elizabeth Thomas, Kris Czerwiec,
Natalie Dunham. Not pictured: Laurel Bengford, Ali Holtz, Colin Reilly
FRESHMEN
SCHOLARSHIPS
All scholarships are awarded for the academic
year (fall and spring). Priority is given to
students admitted March 1. Any remaining
allocation will be awarded on first-come, firstserve basis.
RAI = Regents Admission Index. See
www.uni.edu/admissions and click on New
Freshmen Admission Requirements.
The following are awarded at the time of admission and do not require a separate application.
Institutional Scholarships
Out-of-State Legacy Scholar Award
•
•
•
Available to new graduates from an out-of-state high school
for four years
Annual Award
$1,000
Must maintain out-of-state residency for continued eligibility
•
Renewable with a college GPA of 2.5 or above
•
Out-of-State Good Neighbor Award
•
•
Eligibility Criteria
•
•
Renewable with a college GPA of 2.5 or above
Four year award
$2,500
•
Must be a non-resident of Iowa
Must have a parent, grandparent or sibling who graduated from UNI or a sibling
currently enrolled at UNI
Must answer “yes” to question on Application for Admission regarding parent,
grandparent or sibling
Must reside in one of the Illinois counties of Jo Daviess, Carroll, Whiteside, Henry or
Rock Island
Must maintain Illinois resident status
The following require completion of the University Scholarship Application or specific website as listed.
Presidential Scholar Award
• Renewable with a college GPA of 3.5 or above
•
•
20 awards
Four year award
Bright Scholars of Iowa
•
Renewable with a college GPA of 2.5 or above
College of Business Administration Scholars Awards
College of Education Scholarships
College of Education Benjamin J. Allen Teacher Education
Scholars Awards
$8,000
Tuition & fees,
room & board,
and books
$500 to $7,000
$3,000 to $5,000
Up to in-state
tuition
College of Humanities, Arts, and Sciences Dean’s Scholarships
Up to $6,000
College of Humanities, Arts, and Sciences Science Technology
& Mathematics Scholarships
College of Social and Behavioral Sciences Scholars Awards
College of Social and Behavioral Sciences Alderman
Scholarships
Up to $8,000
Up to $6,000
Up to $6,000
•
Must rank in the top 10 % of high school graduating class & have composite ACT
score of 29 or above or SAT-CR&M of 1280 or above OR
•
•
•
RAI of 335 or above
Selection based on campus interview
•
•
•
•
•
•
•
•
•
•
•
•
•
•
Must rank in the top 10 % of high school graduating class or RAI of 299 or above
composite ACT score of 28 or above
Commitment to learning and community service
Must demonstrate success in face of adversity
Must qualify for Federal Pell Grant
Priority for whom neither parent has earned a four-year college degree
Plan to major in one of the CBA degree programs
ACT of 27 or above on both math and composite scores
Plan to major in one of the COE degree programs
Minimum ACT of 26 and rank in top 25% of high school graduating class
Plan to major in one of the COE degree programs
Minimum ACT of 26
Iowa resident
Minimum ACT of 27
Rank in the upper 15% of high school graduating class
Major in one of the following: Art, Communication Sciences & Disorders,
Languages & Literatures, Music, Philosophy & World Religions or Theatre.
•
Plan to major in one of the following: Biology, Chemistry & Biochemistry, Computer
Science, Earth Science, Technology, Mathematics or Physics
•
•
•
•
•
Plan to major in one of the CSBS degree programs
Academic achievement
Plan to major in one of the CSBS degree programs
Good academic standing
Awarded to needy, worthy and appreciate who have experience difficulties
TRANSFER SCHOLARSHIPS
The following are awarded at the time of admission and do not require a separate application.
Priority is given to students admitted by March 1. Any remaining allocations will be awarded on a first-come, first-served basis.
Institutional Scholarships
Annual Award
Transfer Scholar Award
•
Available for one year
$1,000
Eligibility Criteria
•
Must have 30 transferable hours (after high school graduation) with minimum
3.25 GPA or above
•
Phi Theta Kappa (PTK) Scholarship
•
Renewable for one year with college GPA of 3.0 or higher
$1,000
•
•
Phi Theta Kappa (PTK) All-Iowa Academic Team Award •
•
•
Renewable for one year with a college GPA of 3.0 or higher
Phi Theta Kappa (PTK) All-USA Academic Team Award
• Renewable for one year with a college GPA of 3.0 or higher
$2,000
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Must maintain out-of-state residency for continued eligibility
Renewable for one year with a college GPA of 2.5 or higher
$1,000
Send copy of your Phi Theta Kappa (PTK) All-USA Academic Team award certificate or
confirmation letter to: UNI Office of Admissions, 002 Gilchrist Hall, Cedar Falls, IA
50614-0018
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Must be a non-resident of Iowa
Must have a parent, grandparent or sibling who graduated from UNI or a sibling
currently enrolled at UNI
Must answer “yes” to question on Application for Admission regarding parent,
grandparent or sibling
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Out-of-State Good Neighbor Award
• Available to transfers from specified out-of-state counties
$2,500
Renewable for one year with a college GPA of 2.5 or higher
•
Multicultural Scholar Award
• Renewable for one year with a college GPA of 2.5 or higher
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$2,000
Awarded to students named to the Phi Theta Kappa All-Iowa Academic Team •
Send copy of certificate to: UNI Office of Admissions, 002 Gilchrist Hall, Cedar
Falls, IA 50614-0018
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$5,000
Out-of-State Legacy Scholar Award
Member of (or will be inducted into) the Phi Theta Kappa International Honor Society
at the community college
Must have earned 30 transferable hours (after high school graduation) with a
minimum 3.5 GPA
To receive the scholarship, complete the Phi Theta Kappa Scholarship confirmation
form located at: uni.edu/admissions/online-forms
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Must reside in one of the Illinois counties of Jo Daviess, Carroll, Whiteside, Henry or
Rock Island
Must maintain Illinois resident status
Requires ethnic or racial status of African American/Black, Hispanic/Latino/ Spanish,
Alaskan Native or American Indian, Asian, Native Hawaiian or other Pacific Islander
Must be U.S. citizen or permanent resident
Must have 30 transferable hours (after high school graduation) with minimum
3.0 GPA or above
The following scholarships require a separate application.
Roy J. Carver Scholarship
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Apply at carvertrust.org
Students of all majors can apply
$5,200
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UNIBusiness Transfer Scholarship
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Apply through the University Scholarship Application
Renewable with a college GPA of 3.0 or above
$1,000
Must be UNIBusiness student
Sophomore students attending an Iowa community college
Must be a junior at UNI in the fall semester of the award year
Full-time enrollment
Must be a U.S. Citizen and have graduated from an Iowa high school or have been an
Iowa resident at least 5 consecutive years prior to application
Must demonstrate financial need
Minimum 2.8 GPA
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Top five incoming transfer students based on current GPA
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New graduate from an Iowa high school
Iowa resident
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Demonstrate financial need as determined on the FAFSA
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Iowa resident
Priority given to participants in College Bound activities
Must maintain 3.0 GPA
Must take ALEKS test upon admission
Must be a declared business major
GRANTS for Freshmen & Transfers
Tuition Guarantee Program for Iowans
•
Four year commitment provided through a combination of
federal, state and institutional grants and scholarships
Tuition & fees
IMAGES
•
Available for four years for new graduate from an Iowa high
school and two years for transfer student
•
Awards prorated for less than full-time enrollment
$4,000
Tuition Guarantee Program for Multicultural Community College
Iowans
•
Two-year commitment provided through a combination of
federal, state and institutional grants and scholarships
Tuition & fees
Much have an EFC as determined by the FAFSA of 1000 or less throughout four
years for continued eligibility
Ethnic or racial status of African-American/Black, Hispanic/Latino, Alaskan Native or
American Indian, Asian, Native Hawaiian Pacific Islander
Iowa resident
30 transferable hours from an Iowa Community College
Must be Pell Grant eligible as determined by the FAFSA
Requires ethnic or racial staus of African American/Black, Hispanic/Latino/Spanish,
Alaskan Native or American Indian, Asian Native Hawaiian or other Pacific Islander
DON’T BE IN
THE DARK
BRIGHTEN YOUR FUTURE
REDUCE SPENDING
BORROW LESS
SPONSORED BY THE OFFICE OF
FINANCIAL AID AND SCHOLARSHIPS
University of Northern Iowa