Harvard College - 1636
Harvard University which began in
1636 was the first American College.
Harvard also stared the first financial
aid system. Harvard had established a
student loan program by 1840 and…
had the best-funded scholarship
program by 1878.
http://www.chessconsulting.org/financialaid/profession.htm
Thomas Jefferson always has played
a prominent role at Mizzou. Founded
in 1839, MU was the first public
university west of the Mississippi
River. The legislative act that created
MU more than 160 years ago
incorporated some of Jefferson's ideas
on higher education. Francis
Quadrangle reflects Jefferson's design
for the University of Virginia.
1862
Morrill Act for Land Grant Colleges encouraged
states to establish public universities by providing federal land and
financial support.
The original mission of these land grant colleges, as
described in the 1862 Morrill Act, was to teach
agriculture, military tactics, and the mechanical arts, as
well as classical studies, so that members of the
working classes could obtain a liberal, practical
education.
In 1867, the first U.S. Office of Education was created.
Its role was limited to gathering and disseminating
information about the status of education.
1940
1.5 million students are
enrolled in
Colleges & universities
GI BILL
Act of June 22, 1944
The Servicemen's Readjustment Act of 1944
put higher education within the reach of
millions of veterans of World War II and
later military conflicts.
1944
First government aid for individual college students: the
G.I. Bill for returning veterans of World War II.
The Serviceman's Readjustment Act, popularly known
as the G.I. Bill, provided veterans with funds for tuition,
fees, books and supplies, and living expenses. This was
the first major program to provide student financial aid
to individuals instead of to institutions.
The technological and educational advances of the
post-World War II era were brought about by this
national investment
in postsecondary education.
1958
National Defense Education Act passed in
response to U.S. concern about the Soviet Union's
launch of the first space satellite.
On October 4, 1957, the U.S.S.R. launched the first
space satellite, Sputnik. U.S. attention focused on
building the technological skills required to compete
with the Soviets.
The National Defense Student Loan (NDSL) Program,
which funded student loans for higher education in
critical fields of study such as mathematics, science,
and foreign languages, was the first student financial
aid program for non-veterans.
1964
Economic Opportunity Act, a Great Society
initiative, included College Work-Study (CWS) Program
for financially needy students.
Education was a cornerstone of President
Lyndon B. Johnson's Great Society.
The Economic Opportunity Act recognized the
economic and social impact of education and created
the College Work-Study Program (later renamed the
Federal Work-Study Program), which offered students
part-time employment opportunities while pursuing
their college degrees.
1965
Higher Education Act (HEA)
reauthorized the NDSL and CWS Programs and added
• Educational Opportunity Grant (EOG) Program
• Guaranteed Student Loan (GSL) Program
Title IV of the HEA authorized, and continues to authorize, most federal
student financial aid programs. In 1965 it reauthorized the National Defense
Student Loan (NDSL) and College Work-Study (CWS) Programs and added
the:
• Educational Opportunity Grant Program, which was
intended to increase college opportunities for lowincome students. Recipients are selected by colleges,
using federal guidelines
• Guaranteed Student Loan (GSL) Program, which allowed
students with no credit history to borrow from private
lenders for college expenses. The loans are guaranteed by
the federal government if a borrower defaults
Higher Education Act
of November 8, 1965
1972
HEA Amendments
• Created Basic Educational Opportunity Grant (BEOG) and
State Student Incentive Grant (SSIG) Programs
• Proprietary schools became eligible for Title IV funds
• National Defense Student Loan Program renamed National
Direct Student Loan Program
• Extended GSL Program
• A new "portable" grant program, Basic Educational
Opportunity Grant (BEOG), was created for use at any
eligible postsecondary school by students meeting
specific financial need criteria. Unlike other programs,
BEOG was not tied to an allocation for a particular campus.
1972
HEA Amendments
• The Educational Opportunity Grant Program became the
Supplemental Educational Opportunity Grant (SEOG)
Program because it now supplemented BEOG.
• The State Student Incentive Grant (SSIG) Program was
established to encourage states to share costs of student
aid.
• Proprietary (profit-making) schools became eligible to use
Title IV funds.
• The College Work-Study Program was reauthorized.
• The Guaranteed Student Loan Program was extended.
1976
HEA Amendments added requirements that students make
satisfactory academic progress to receive Title IV funds.
All existing federal student financial aid programs were reauthorized and
student eligibility rules were tightened by introducing requirements for
satisfactory academic progress.
Student consumer-information provisions were introduced, requiring
participating institutions to provide information on topics such as
academic progress requirements, job placement for graduates, and
financial aid policies and procedures.
In 1978, The Middle Income Student Assistance Act (MISAA) provided
assistance to middle income parents by expanding Basic Grant eligibility
and by lifting the income ceiling on the GSL Program.
1980
HEA Amendments
• Established Parent Loans for Undergraduate Students
(PLUS)
• BEOG renamed Pell Grant
The PLUS Program provided more assistance to middleincome families by allowing parents to borrow $3,000 a year
for each dependent child in school regardless of parent
income.
The Basic Educational Opportunity Grant (BEOG)
Program was renamed the Pell Grant Program in honor of the
prime sponsor of the program, Senator Claiborne Pell.
1986
HEA Amendments
The Amendments of 1986 included a wide range of
changes. They:
• Incorporated two Title IV need-analysis formulas into law
• Tightened standards for academic progress and for
students admitted to postsecondary school without high
school credentials
• Placed a limit on the number of years a student could get a
Pell Grant
• Established a new loan program for independent students
• Renamed the National Direct Student Loan Program as the
Federal Perkins Loan Program in honor of the late
Congressman Carl D. Perkins
1990
Omnibus Budget Reconciliation Act
• Required "ability-to-benefit" students to pass an
independently administered test
• Restricted participation in the guaranteed loan programs
for schools with a high percentage of former students
defaulting on loans
A student without a high school diploma or equivalent who
wishes to be admitted on the basis of ability to benefit must
pass an independently administered test.
Schools are ineligible for the GSL Program if their default rate
is 35% or higher. (As of award year 2001-02, the cut-off for
most schools is 25%.)
1992
HEA Amendments
• Established a single federal need-analysis formula for all
Title IV aid
• Required that the application for federal student aid be free
for students
• Initiated the Federal Direct Loan Program allowing schools
to administer guaranteed loans provided by government
funds instead of private funds
• Revised and renamed private-lender guaranteed loan
programs, establishing the Federal Family Education Loan
(FFEL) Program
The 1992 HEA Amendments reauthorized the programs for five years
and made many changes, including replacing the two need-analysis
formulas with a single federal need-analysis formula.
1997
Taxpayer Relief Act
The 1997 tax reliefs for postsecondary students included:
• HOPE Scholarship tax credit (up to $1,500) for each of the
first two years of college
• Lifetime Learning tax credit equal to 20% of the first $5,000
of tuition and fees
• Tax deduction for interest paid on student loans
• Education IRAs for tax-free savings for college
1997
Taxpayer Relief Act
The 1997 tax reliefs for postsecondary students included:
• Penalty-free withdrawals from existing IRAs for higher
education expenses
• Greater flexibility for families saving in qualified state prepaid tuition plans
• Income exclusion for up to $5,250 in employer education
benefits
• Tax-free loan forgiveness for certain community service
Measuring Up 2002
NATIONAL - PREPARATION
High School Completion
Most states perform well in assuring that young people attain a high school diploma or a General Education
Development (GED) diploma by age 24. But there are large gaps in the attainment of different ethnic and
income groups within states.
° States range from a high of 95% (Maine) to a low of 74% (Arizona) on the percentage of their
residents who earn a high school diploma or a General Education Development (GED) diploma by age 24.
° In 18 states, more than 90% of young people have a high school or GED diploma. In 29 states, more than
80% have one.
° In Arizona, 87% of white young adults have a high school or GED diploma, compared with 59% for all
other races.
° In Georgia, 98% of young adults from high-income families have a high school or GED diploma, compared
with 61% of young adults from low-income families.
http://measuringup.highereducation.org/2002/stateprofilenet.cfm
Measuring Up 2002
MISSOURI
PREPARATION (B-)
MISSOURI
TOP STATES
18 to 24 year-olds with a high school credential
93%
94%
Low income 8th graders scoring at or above “proficiency”
on the national assessment exam in math
9%
21%
Number of scores in the top 20% nationally on SAT/ACT
college entrance exam per 1,000 high school graduates
175
201
Change over Time: In Missouri from 1990 to 2000, the proportion of high school
students taking upper-level math courses increased from 36% to 51%.
http://measuringup.highereducation.org/2002/stateprofilenet.cfm
Measuring Up 2002
NATIONAL - PARTICIPATION
The opportunity to enroll in higher education varies widely across states. Within states, large gaps exist in the
rates of enrollment of young people by ethnicity, family income, and level of parents' education.
Young Adults
In most states, less than half of high school students go on to college right after high school.
° In only five states do more than half of high school freshmen complete their diplomas and continue directly
on
to higher education. In most states, between 40 and 50% of high school freshmen complete high school and
go on to higher education immediately.
° In 10 states, less than 30% of all young adults (ages 18 to 24) are enrolled in college.
Working-Age Adults
The proportion of working-age adults (ages 25 to 49) enrolled part-time in education or training beyond
high school is very low throughout the United States, and there are wide disparities among states.
http://measuringup.highereducation.org/2002/stateprofilenet.cfm
Measuring Up 2002
MISSOURI
PARTICIPATION (C+)
MISSOURI
TOP STATES
YOUNG ADULTS
High school freshman enrolling in college within 4 years
in any state
39%
54%
18 to 24 year olds enrolling in college
32%
41%
Performance Gaps: In Missouri, of 18 to 24 year olds whose parents have some
college education, 55% enroll in college, compared to 19% of those whose parents
did not attend college.
http://measuringup.highereducation.org/2002/stateprofilenet.cfm
Measuring Up 2002
NATIONAL - AFFORDABILITY
Family Ability to Pay
A family's ability to pay for college is determined by the share of family income needed to pay for tuition, fees,
room and board, and other college expenses-minus financial aid.
° Students and families in Utah pay a smaller portion of their income for college than families in any other state.
A combination of low tuitions, substantial financial aid, and solid family incomes means that Utah residents
need to devote an average of about 16% of their income to attend public institutions and 21% to
attend private institutions.
° The proportion of family income required to pay for higher education at public four-year institutions in
Vermont is 38%-compared with 16% in Utah.
° In New York, low-income families would pay 211% of their family income to attend private four-year
institutions. High-income families devote just 18% of their income.
http://measuringup.highereducation.org/2002/stateprofilenet.cfm
Measuring Up 2002
NATIONAL - AFFORDABILITY
Strategies for Affordability
Most states make a comparatively low investment in need-based financial aid (aid directed to low-income students and
their families). The average performance of the top five states in providing need-based financial aid is four times
the average performance for the rest of the states.
° The top-performing state in providing need-based financial aid, Illinois, provides more grant aid than
the federal government to Illinois residents. Pennsylvania, New Jersey, and Minnesota also provide more
need-based grant aid than the federal government.
° Four states (Alaska, Georgia, South Dakota, and Wyoming) provide no need-based financial aid to state residents.
Only four states (California, Colorado, Illinois, and Virginia) offer both low-cost colleges and high levels of need-based aid.
Reliance on Loans
° In six states, the average loan amount borrowed by undergraduate students is less than $3,000
annually. In one state, the average amount borrowed is above $4,000 per year.
Note: Many states received a lower grade on affordability in Measuring Up 2002 than in 2000. State grades measure how well a state
performs in relationship to other states. California's exceptional performance since Measuring Up 2000 resulted in a lower grade for
most other states.
http://measuringup.highereducation.org/2002/stateprofilenet.cfm
Measuring Up 2002
MISSOURI
AFFORDABILITY (D+)
MISSOURI
TOP STATES
FAMILY ABILITY TO PAY
Percent of income (avg of all income groups) needed to pay for college expenses minus financial aid:
Community College
Public 4-year College/University
Private 4-year College/University
17%
22%
47%
16%
18%
32%
STRATEGIES FOR AFFORDABILITY
State grant aid targeted to low-income families as a
% of federal Pell Grant to low-income families
19%
108%
Share of income that poorest families need to pay for
tuition at lowest priced colleges
12%
8%
RELIANCE ON LOANS
Avg loan amount that undergraduates borrow each year
$3,206
http://measuringup.highereducation.org/2002/stateprofilenet.cfm
$2,928
Measuring Up 2002
MISSOURI
INCOME GROUPS USED TO CALCULATE 2002 FAMILY ABILITY TO PAY
Percent of income needed to pay for college
expenses minus financial aid:
Community
Colleges
4-Year
Public
4-Year
Private
for 20% of the population with the lowest income
39%
50%
117%
for 20% of the population with lower-middle income
18%
23%
50%
for 20% of the population with middle income
12%
16%
31%
for 20% of the population with upper-middle income
9%
12%
22%
for 20% of the population with the highest income
6%
7%
15%
http://measuringup.highereducation.org/2002/stateprofilenet.cfm
Measuring Up 2002
NATIONAL - BENEFITS
Educational Achievement
° In Massachusetts, 36% of state residents have a bachelor's degree-double the 18% who have one in West
Virginia.
° In 14 states, at least 30% of state residents have a bachelor's degree. In only one state (West Virginia)
do less than 20% of state residents have this degree. Large gaps also exist within states.
° In seven states, the percentage of the white population with a bachelor's degree is more than
double the percentage for all other residents.
Economic Benefits
° In Maryland, the total amount of personal income generated in the state is increased by 13% due to the
population with a bachelor's degree. In Wyoming, the increase is only 5%.
° All education and training beyond high school, even if it does not result in a bachelor's degree, can
have economic benefits for the state. In four states (Michigan, Delaware, Oregon, and California), the
total amount of personal income in the state is increased by four percent or more as a result of state residents
attending college without attaining a bachelor's degree. In four states (Missouri, Montana, South Dakota, and
West Virginia) on the other hand, the increase is less than one percent.
Civic Benefits
Some states with more highly educated populations tend to have higher levels of civic benefits, such as voting
and charitable giving.
http://measuringup.highereducation.org/2002/stateprofilenet.cfm
Measuring Up 2002
MISSOURI
COMPLETION (B-)
MISSOURI
TOP STATES
PERSISTENCE
1st year community college students returning their 2nd year
54%
63%
Freshman at 4-year colleges/univ. returning their 2nd year
75%
83%
COMPLETION
First-time, full-time students completing a bachelor’s degree
within 5 years of high school completion
48%
66%
First-time, full-time students completing a bachelor’s degree
within 6 year of college entrance
50%
61%
Certificates, degrees and diplomas awarded at all colleges and
universities per100 undergraduate students
17
21
http://measuringup.highereducation.org/2002/stateprofilenet.cfm
Measuring Up 2002
MISSOURI
BENEFITS (D+)
EDUCATIONAL ACHIEVEMENT
Population aged 25 to 65 with a bachelor’s degree or higher
MISSOURI
TOP STATES
28%
35%
ECONOMIC BENEFITS
Increase in total personal income as a result of the % of the population
holding a bachelor’s degree
6%
12%
Increase in total personal income as a result of the % of the population
with some college (including an associate’s degree), but not a bachelor’s degree
0%
4%
CIVIC BENEFITS
Residents voting in 1998 and 2000 national elections
56%
60%
Of those who itemize on federal income taxes, the % declaring
charitable gifts
85%
92%
http://measuringup.highereducation.org/2002/stateprofilenet.cfm
Measuring Up 2002
MISSOURI
STATE CONTEXT
POPULATION (2001)
MISSOURI
STATE RANK
5,629,707
17
$170,470,000,000
18
GROSS STATE PRODUCT
(1999)
http://measuringup.highereducation.org/2002/stateprofilenet.cfm
Measuring Up 2002
MISSOURI
LEADING INDICATORS
MISSOURI
U.S.
Projected % change in population 2000-2015
8.4%
12.9%
Projected % change in # of all high school graduates, 1998-2010
3.3%
9.5%
Projected budget surplus/shortfall by 2008
-1.8%
-3.8%
Avg income of poorest 20% of population (2000)
$ 12,820
$ 11,400
Children in poverty (2000)
16%
17%
% of population with less than a high school diploma
or equivalent
13.4%
15.9%
New economy index (2002)*
58.9%
60.3%
*This index, created by the Progressive Policy Institute, measures the extent to which a state is participating in knowledge-based industries. A higher score means
increased participation.
http://measuringup.highereducation.org/2002/stateprofilenet.cfm
Measuring Up 2002
MISSOURI
# INSTITUTIONS
TUITION
Public 4-year
13
$ 3,878
99,456
38%
Public 2-year
18
$ 1,482
78,817
30%
Private 4-year
63
$ 12,603
77,998
30%
Private 2-year
22
7,448
3%
FACTS & FIGURES
N/A
http://measuringup.highereducation.org/2002/stateprofilenet.cfm
ENROLLMENT (1999)
Measuring Up 2002
MISSOURI
ENROLLMENT LEVELS
COUNT
Undergraduate
263,719
83%
43,850
14%
9,911
3%
184,948
132,532
58%
42%
Graduate
Professional
Full-time
Part-time
http://measuringup.highereducation.org/2002/stateprofilenet.cfm
PERCENT
Measuring Up 2002
MISSOURI
STATE & LOCAL APPROPRIATIONS FOR HIGHER EDUCATION
Per $1,000 of personal income, FY 2001
$
Per capita, FY 2001
$ 203.00
Number of GED diplomas issued to young adults, ages 16 – 24,
per 1,000 high school graduates (2001)
http://measuringup.highereducation.org/2002/stateprofilenet.cfm
MISSOURI
137
7.00
U.S.
154
Measuring Up 2002
MISSOURI
ETHNICITY
STATE POPULATION
ENROLLED IN HIGHER ED
WHITE
86%
83%
BLACK
11%
10%
HISPANIC
2%
2%
ASIAN
1%
2%
NATIVE AMERICAN
0%
1%
http://measuringup.highereducation.org/2002/stateprofilenet.cfm
Measuring Up 2002
MISSOURI
STATE APPROPRIATIONS
K-12
1999
28%
2000
24%
HIGHER EDUCATION
9%
7%
CASH ASSISTANCE
3%
1%
MEDICADE
11%
18%
CORRECTIONS
3%
3%
TRANSPORTATION
9%
9%
ALL OTHER
38%
38%
http://measuringup.highereducation.org/2002/stateprofilenet.cfm
Measuring Up 2002
MISSOURI
Missouri's Performance Is Average in Higher Education
Many young people in Missouri graduate from high school, but only a fair percentage go on directly to college,
according to a U.S. report card on higher education.
According to the report:
Since Measuring Up 2000, Missouri has improved to become a top-performing state in the percentage of 18- to
24-year-olds with a high school credential: 93%.
The state has increased the proportion of 18- to 24-year-olds in the state who enroll in college, to 32%.
But this percentage is only fair compared to the 41% who do so in the best-performing states.
Missouri has improved and is a top performer on the share of income families must spend, after financial aid, to
attend the state's community colleges: 17%.
Even with some improvement, only 48% of Missouri's full-time college students receive their
bachelor's degree within five years, compared to 66% who do so in the top states.
http://measuringup.highereducation.org/2002/stateprofilenet.cfm
Measuring Up 2002
MISSOURI
Missouri's Performance Is Average in Higher Education
Missouri's Grades
Preparation:
Participation:
Affordability:
Completion:
Benefits:
Learning:
2000
2002
C+
CD+
BC
I
BC+
D+
BD+
I
http://measuringup.highereducation.org/2002/stateprofilenet.cfm
College graduates earned
about $41,000 in 1998
compared with the $23,000
that high school graduates
earned.
http://www.bls.gov/opub/ooq/2000/Fall/art01.pdf
1998 – 2008
35 to 44-year-old
population shrinks by about
8%
http://www.bls.gov/opub/ooq/2000/Fall/art01.pdf
1998 – 2008
18 to 24-year-old
population grows by about
16%
13.7 million graduates
http://www.bls.gov/opub/ooq/2000/Fall/art01.pdf
1988 – 1998
55 and older age group
increased by 4.3 million
http://www.bls.gov/opub/ooq/2000/Fall/art01.pdf
1998 - 2008
55 and older age group will
increased by 14 million
http://www.bls.gov/opub/ooq/2000/Fall/art01.pdf
1998 - 2008
1.37 million new graduates
each year
1.28 million new jobs
each year
http://www.bls.gov/opub/ooq/2000/Fall/art01.pdf
Although the employment outlook is
improving, an average of 90,000
college graduates will continue to
enter positions that do not require
skills learned in a bachelor’s degree
program.
http://www.bls.gov/opub/ooq/2000/Fall/art01.pdf
…expectations for high earnings and
job satisfaction… are reasonable for
students graduating with majors that
prepare them to enter fast-growing,
high demand occupations…
…competition will remain keen…
http://www.bls.gov/opub/ooq/2000/Fall/art01.pdf
…prospective employers evaluate
job applicants on…
GPA, internship/work experience,
evidence of leadership, strong
communication skills…
http://www.bls.gov/opub/ooq/2000/Fall/art01.pdf
If we want to see this….
We need lots of this…
Higher education has seen rapid change in the
past 50 years as financial aid has matured
into a profession. Increases in enrollment,
college costs, and funds administered along
with changes in the goals of financial aid,
technological advances, and intrusive federal
regulation have made it one of the most
dynamic higher education professions.
http://www.chessconsulting.org/financialaid/profession.htm
In 1971, 34% of 25–29 year old Americans
had some college education and by 2001 this
percentage increased to over 58%. College
costs increased by almost 1,000% since
1971 and that increased the pressure on aid
administrators to find funds to help students
enroll. Aid administrators now annually
award over $74 billion to enable students to
pursue their educational objectives.
http://www.chessconsulting.org/financialaid/profession.htm
At the same time that college enrollments and
college costs were exploding, the goals and
purposes of financial aid were expanded. The
goals were clear in the simple days at
Harvard in the early 1640's, to provide
funds to assist financially needy students.
The entanglement of the federal
government, however, has resulted in
multiple objectives.
http://www.chessconsulting.org/financialaid/profession.htm
The GI Bill provided funds for students to attend
college in part to address concerns about economic
reintegration of almost 16 million veterans
returning from WWII and the potential for high
unemployment if they immediately reentered the
workforce. The National Defense Act which
created the National Defense Student Loan (now
called the Federal Perkins Loan) was created in
response to the Soviet Union's launch of Sputnik
and our need to develop scientists who could help
us compete with the Russians.
http://www.chessconsulting.org/financialaid/profession.htm
Congress continues to use the aid programs
to encourage students to enter certain fields
such as teaching and law enforcement. Using
the Constitution's spending clause,
Congress has used financial aid as a
means to regulate a number of college
activities and promote public policy concerns
such as ensuring the academic integrity of
academic programs, registration for selective
service, and denying financial aid to students
with drug convictions.
http://www.chessconsulting.org/financialaid/profession.htm
To meet increased costs, student borrowing
increased dramatically and student loan default
rates skyrocketed. In the early 1990s, the national
student loan default rate soared to a high of
22.4%. Aid administrators were assigned additional
responsibilities by the U.S. Government to prevent
defaults. As a result, aid administrators provided
more intensive debt management counseling
and became more connected to career planning
and placement activities. Default rates have now
fallen below 6%.
http://www.chessconsulting.org/financialaid/profession.htm
Colleges have also begun using the funds as
leverage to encourage enrollments of the best
and brightest and special populations such as
athletes and underrepresented minority students. In
1988, academic merit was used to award
institutional aid at 58% of four-year private colleges
and universities and 14% of four-year public
institutions. By 1996, merit was used at 73% of
four-year private institutions and 28% of four-year
public colleges and universities. A recent study of
2,554 colleges shows the majority of
institutional funds at four year public
universities are awarded on a non-need basis
(merit or other factor).
http://www.chessconsulting.org/financialaid/profession.htm
In 1999, NASFAA adopted a Statement of Ethical
Principles replacing its Statement of Good
Practices and in doing so removed the
expectation that "the aid administrator should
make every effort to redirect [non need-based]
funds to assist those students with
demonstrated need." Use of funds to recruit
underrepresented minority students has also
created concerns. The current U.S. Supreme Court
case involving admissions at the University of
Michigan is expected to significantly impact
financial aid.
http://www.chessconsulting.org/financialaid/profession.htm
In the midst of these changes, regulation of the profession
has grown significantly. A project by the Office of General
Counsel at the Catholic University of America catalogued over
7,000 regulations affecting colleges and
universities. Such regulation has driven some
institutions out of the financial aid programs
(e.g., Grove City College).
http://www.wustl.edu/
"To manage the increased workloads, aid administrators have had
to become much more process-oriented than they were in 1988. Aid
administrators have become much more concerned with following
the rules and regulations of aid, rather than with making sure
students receive aid packages that meet their needs and safeguard
limited funds." As such, aid administrators have used technology
extensively to automate these processes.
http://www.wustl.edu/
In 1999, NASFAA adopted a
Statement of Ethical Principles
replacing its Statement of Good
Practices and in doing so removed
the expectation that "the aid
administrator should make every
effort to redirect [non need-based]
funds to assist those students with
demonstrated need." Use of funds to
recruit underrepresented minority
students has also created concerns.
The current U.S. Supreme Court
case involving admissions at the
University of Michigan is expected
to significantly impact financial aid.
http://www.chessconsulting.org/financialaid/profession.htm
As federal regulation and the costs for
non-compliance have grown, the
importance of the financial aid office
within colleges and universities has
been recognized. Aid administrators are
moving up the organizational ladder
and involving higher level campus
administrators in policy decisions.
http://www.chessconsulting.org/financialaid/profession.htm
The financial aid office is a high financial
risk area for the institution and a major
factor in its ability to attract and retain
qualified students. A well-run financial aid
office is essential to the health of an
institution. As the profession has grown, its
people and history have established ethical
principles to guide the future.
http://www.chessconsulting.org/financialaid/profession.htm