Aid-Leveraging-Presentation-by-Vice-President-Michael-Joseph

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 350 13% High Need 587 21% High Ability 526 17% High Need 771 24% Middle 1,805 66% Increase of 394 Middle 34 8% High Ability 176 45% High Need 184 47% Middle 1,839 59% What Families Pay All Undergraduates 40,000 Recession Effects 35,000 36,160 34,760 ↓ 33,480 32,250 31,040 29,582 30,000 28,320 26,950 25,200 22,750 21,700 +5.5% +3.8% +3.8% +3.9% +4.9% +4.5% +5.1% 24,000 25,000 +4.0% +6.9% +5.0% +4.8% 20,000 15,000 12,638 13,371 +5.8% 13,999 +4.7% 14,591 15,555 +4.2% 15,598 +6.6% +0.3% 2008 2009 16,128 +3.4% 16,682 17,087 17,233 17,196 16,866 +3.4% +2.4% +0.9% -0.2% -1.9% 2011 2012 2013 2014 10,000 2004 2005 2006 2007 Tuition/fees 2010 What Families Pay (net tuition) 2015 Admits by FAFSA Filers and Non-Filers Domestic Freshmen 64.8% 6,000 64.8% 62.0% 59.0% 5,166 61.2% 5,296 60.0% 5,000 4,651 4,216 4,000 3,919 50.0% 1,964 2,055 1,635 40.0% 1,483 3,000 1,606 30.0% 2,000 1,000 20.0% 2,313 2,733 3,016 3,202 3,241 10.0% 0.0% 2011 2012 FAFSA Filers 2013 Non-Filers 2014 % Filed 2015 Yield by non-FAFSA Filers Domestic Freshmen 2,500 2.6% 2.6% 2,000 2.0% 1.8% 1,500 1,000 1.5% 1,483 1,606 2,055 1,964 1,635 1.5% 1.0% 500 42 2011 26 2012 Non-Filers 42 2013 Enrolled 30 2014 Yield 30 2015 0.0% Yield by FAFSA Filers Domestic Freshmen 3,500 3,000 30.0% 27.5% 25.0% 26.1% 25.5% 2,500 21.0% 21.4% 20.0% 2,000 15.0% 1,500 3,016 2,733 2,313 3,241 3,202 10.0% 1,000 5.0% 500 637 697 789 674 695 0.0% 2011 2012 FAFSA Filers 2013 2014 Enrolled Yield 2015 Orientation Chart - 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 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 EFC Range Average Gross Income Average Average GPA ACT 19,000 1st 3.25 22 1st 3.57 24 2nd 3.77 26 3rd 3.97 28 4th 4.20 31 5th to 1,490 1,491 to 4,335 4,336 7,815 12,099 to to to 7,814 12,098 17,808 17,809 to 24,170 24,171 to 33,284 33,285 to 55,041 55,042 to 999,999 31,000 53,000 73,000 92,300 112,300 126,100 148,600 171,200 250,000 2nd 3rd 4th 5th 6th 7th 8th 9th 10th Yield and Discount by Cell – 2014 and 2015 Incoming Freshmen 1st 3.25 22 2nd 3.57 24 3rd 3.77 26 4th 3.97 28 5th 4.20 31 1st 2nd 3rd 4th 5th 6th 7th 8th 9th 10th $19,000 $31,000 $53,000 $73,000 64 of 285 Y 22 % D 61% 17 of 101 Y 17% D 63% 28 of 155 29 of 136 22 of 103 34 of 104 Y 18% Y 21% Y 21% Y 33% D 63% D 66% D 62% D 57% 13 of 81 Y 16% D 48% 10 of 78 Y 13% D 42% 15 of 98 Y 15% D 32% 13 of 75 Y 17% D 17% 48 of 182 Y 26 % D 61% 20 of 90 Y 22% D 62% 30 of 142 28 of 112 25 of 106 18 of 110 24 of 123 Y 21 % Y 25% Y 24% Y 16% Y 20% D 66% D 67% D 67% D 60% D 55% 16 of 95 Y 17% D 52% 15 of 97 Y 15% D 44% 16 of 75 Y 15% D 36% 41 of 164 Y 25 % D 65% 23 of 93 Y 25% D 65% 35 of 115 20 of 124 25 of 141 33 of 129 24 of 119 26 of 130 32 of 139 Y 30% Y 16% Y 18% Y 26% Y 20% Y 20% Y 23% D 67% D 69% D 67% D 62% D 59% D 56% D 50% 31 of 75 Y 25% D 45% 10 of 91 Y 11 % D 65% 16 of 74 Y 22% D 66% 23 of 130 23 of 116 25 of 124 32 of 141 24 of 135 19 of 138 27 of 144 Y 18% Y 20% Y 20% Y 23% Y 18% Y 14% Y 19% D 69% D 71% D 69% D 66% D 62% D 58% D 53% 21 of 75 Y 14% D 48% 18 of 70 Y 26% D 68% 10 of 37 Y 27% D 70% 15 of 87 Y 17% D 73% 29 of 75 Y 17% D 60% $92,300 $112,300 $126,100 $148,600 $171,200 $250,000 24 of 115 23 of 132 29 of 138 27 of 156 28 of 160 42 of 190 Y 21% Y 17% Y 21% Y 17% Y 18% Y 22% D 73% D 71% D 68% D 67% D 64% D 63% 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 12 13 10 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 Manhattan College NY 25.0 Widener University PA 22.5 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 State Schools 25 total State Roger Williams University Hampton University Belmont University RI VA TN Samford University* University of New Haven University of Scranton* VALPO Wagner College University of Evansville* Arcadia University Widener University Westminster College John Carroll University* AL CT PA IN NY IN PA PA UT OH 82% 78% 66% Manhattan College Hamline University* Pacific Lutheran University NY MN WA 29% 21% 21% 65% 61% 60% 59% 54% 46% 43% 40% 38% 31% California Lutheran University University of Redlands* Drury University Ohio Northern University St Edwards University Sage Colleges Nazareth College North Central College University of La Verne CA CA MO OH TX NY NY IL CA 19% 19% 15% 13% 12% 9% 7% 7% 4% *board-approved peer school list Data from College Scorecard, College Xpress, and Peterson's Guide Out of State NAC&U Schools – Comparison of Key Indicators (discount factors) Schools 25 total State Ethnic comments Diversity Schools 25 total Hampton University VA 96% 93% Afr Am University of New Haven CT 19% 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* 10% VALPO IN 19% *board-approved peer school list Data from College Scorecard, College Xpress, and Peterson's Guide State Ethnic Diversity IN Admission and Financial Aid Timeline Fall 2016 Enrollment Fall 2017 Enrollment July 2015 – March 2016 prospective students submit applications July 2016 – March 2017 prospective students submit applications September 2015 – April 2016 – rolling admission Students notified of admission and academic scholarship September 2016 – April 2017 – rolling admission Students notified of admission and academic scholarship January – March 2016 – families file FAFSA October 2016 to March 2017 – families file FAFSA (change in timing) February – April 2016 – financial aid award letters sent December 2016 – April 2017 – financial aid award letters sent (change in timing) May 1, 2016 – students deposit to indicate intent to enroll in the fall May 1, 2017 – students deposit to 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 1st 3.25 22 $10,000* $15,000* 2nd 3.57 24 $12,000 $11,000 $14,000 $13,000 $18,000 $17,500 3rd 3.77 26 $15,000 $14,500 $17,000 $16,500 $19,000 4th 3.97 28 $16,000 $15,500 $18,000 $17,500 $20,000 5th 4.20 31 $19,000 $18,000 $20,500 $19,500 $21,000 $20,500 *top third of quintile