Policy Planning Session 2 24 051

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Information about Policy Planning Session 2 24 051
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Published on July 9, 2007

Author: FordeS

Source: authorstream.com

Integrating Postsecondary Education Financial Aid and Finance Policy:Changing Louisiana’s Future:  Integrating Postsecondary Education Financial Aid and Finance Policy: Changing Louisiana’s Future Policy Planning Session February 24, 2005 Slide2:  Project sponsored by the Western Interstate Commission for Higher Education (WICHE), American Council for Education (ACE), National Conference of State Legislatures (NCSL), and State Higher Education Executive Officers (SHEEO) Funded by the Lumina Foundation for Education Louisiana was selected to participate in the second cohort of the project along with Hawaii, Idaho, Oklahoma, and Tennessee Purpose is to examine ways to structure finance and financial aid policies to maximize participation, access, and success for all students Louisiana Changing Direction Project:  Louisiana Changing Direction Project Review state policies within the following areas: Appropriations Tuition Financial Aid The 'ATFA' approach seeks to integrate policy analysis and development Louisiana Changing Direction Project:  Louisiana Constitution requires Board of Regents to formulate a funding formula for an equitable distribution of funds Act 1105 of the 2003 Regular Session requires Board of Regents to formulate for legislative consideration a state tuition and fee policy Act 695 of the 2004 Regular Session requires Board of Regents to develop a comprehensive state student financial aid plan that supports the Master Plan for Public Postsecondary Education Louisiana Changing Direction Project Context for Consideration of Financial Aid and Finance Policyin Louisiana:  Context for Consideration of Financial Aid and Finance Policy in Louisiana Higher Learning = Higher Earning:  Source: Postsecondary Education OPPORTUNITY PROFESSIONAL DEGREE DOCTORATE MASTER’S DEGREE BACHELOR’S DEGREE ASSOCIATE DEGREE SOME COLLEGE NO DEGREE HIGH SCHOOL GRADUATE LESS THAN HIGH SCHOOL Higher Learning = Higher Earning MEDIAN EARNINGS IN 2000 Educational Attainment and Rank Among States - Louisiana, 2000 (Percent):  Educational Attainment and Rank Among States - Louisiana, 2000 (Percent) Source: U.S. Census Bureau Per Capita Personal Income:  Per Capita Personal Income Source: U.S. Census Bureau Projected Change* in Personal Income Per Capita, 2000-2020 (In 2000 $):  Projected Change* in Personal Income Per Capita, 2000-2020 (In 2000 $) *Projected change in personal income is based on the annual personal income by age group (15 years and older) and race/ethnicity in 2000 and the population projections by age group and race/ethnicity in 2020. Source: U.S. Census 2000, U.S. Census Bureau’s 1995 population projections Changing DirectionGoals & Strategies:  Changing Direction Goals andamp; Strategies Formula Revision Tuition Policy Financial Aid Policy Postsecondary Education Financial Flows:  Postsecondary Education Financial Flows Formula Revision Goals:  Formula Revision Goals More precise targeting of each institution’s mix of students and programs Financial incentives to encourage: Improved student access and success Appropriate institutional enrollment profile (consistent with mission) ATFA: Appropriations Formula Revisions:  Use cost study analysis to establish core formula funding values Adjust values to encourage desired enrollment profiles Provide 'bonus' values for targeted populations No funding of enrollment not in compliance with admissions criteria framework Fund students upon course completion Formula Revisions ATFA: Appropriations Tuition Policy Goals:  Tuition Policy Goals Maintain affordable resident undergraduate tuition Provide consumers (students/families) with predictable levels of tuition costs Provide institutions adequate tuition revenue Achieve similar tuition rates for similar types of schools ATFA: Tuition Tuition Policy Development:  Tuition Policy Development Limited overall by peer* tuition levels Multi-year implementation schedule Limited annual increases Authority to increase tuition dependent upon progress toward/attainment of desired enrollment profile ATFA: Tuition * SREB and national flagship rates Tuition Policy Development:  Tuition Policy Development Require portion of new tuition revenue to be dedicated to need-based financial aid Reassess current policies for nonresident tuition Allow flexibility in setting graduate and professional school tuition rates based upon factors and conditions associated with the programs Clarify distinctions between tuition and fees ATFA: Tuition Slide17:  Slide18:  Slide19:  Context for Consideration of Financial Aid Policy:  Context for Consideration of Financial Aid Policy ATFA: Financial Aid Slide21:  0% 10% 20% 30% 40% 50% 60% 70% 1972-73 1975-76 1978-79 1981-82 1984-85 1987-88 1990-91 1993-94 1996-97 1999-00* Low Income Middle Income High Income AVERAGE COST OF ATTENDANCE AT A FOUR-YEAR PUBLIC COLLEGE AS A SHARE OF FAMILY INCOME Source: Advisory Committee on Student Financial Assistance Slide22:  Slide23:  Total State Student Grant Aid Dollars Per FTE, 2002-03 SHEEO State Higher Education Finance Report FY2003 Leveraging Educational Assistance Partnership (LEAP - formerly the State Student Incentive Grant or SSIG):  Leveraging Educational Assistance Partnership (LEAP - formerly the State Student Incentive Grant or SSIG) STATE COMBINED STATE NUMBER AVERAGE EXPENDITURES AND FEDERAL RECIPIENTS AWARD FY 1998-99 $1,024,687 $1,388,342 2,357 $589 FY 1999-00 $1,024,687 $1,390,066 2,537 $548 FY 2000-01 $1,024,687 $1,463,024 3,983 $367 FY 2001-02 $1,024,687 $1,451,570 2,900 $501 FY 2002-03 $1,024,687 $1,451,570 4,217 $344 Federal funds matched by the state Awards based upon students’ financial need Only need-based student aid program funded by the state Financial Aid Policy Goals:  Financial Aid Policy Goals Remove financial barriers to access Maximize federal student financial aid Align state and institutional financial aid policies ATFA: Financial Aid Financial Aid Policy Development:  Financial Aid Policy Development Leverage the federal LEAP program/maximize Pell grant awards Condition tuition authority on institution allocations to need-based aid Provide incentives for enhanced institution allocations to need-based aid ATFA: Financial Aid Financial Aid Policy Development:  Financial Aid Policy Development Establish endowed scholarship program for needy students Establish financial aid program for adult learners ATFA: Financial Aid ATFA Project Desired Results:  ATFA Project Desired Results Provide adequate funding to the institutions -- the combination of state appropriations and tuition revenues must yield sufficient revenues to fulfill their differing missions Ensure tuition levels do not result in Louisiana colleges and universities being unaffordable for the citizens of the state ATFA Project Desired Results:  Provide need-based aid opportunities to students and maximize use of federal aid programs Recognize the fiscal realities/limitations of the state -- and ensure that state resources available are utilized in the most effective way ATFA Project Desired Results

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