Initiative 3.1.1 – Ensure affordability for all
Initiative 3.1.1 – Ensure affordability for all students (financial literacy ONLY) Briefly summarize your initiative efforts to date: Financial Aid office and related work committees have worked closely with students and parents over the past year to better educate them about financial aid opportunities and costs. Increased group meetings are impacting financial aid borrowing and better educating students before they borrow. Worked to develop a broad-based donor list for identification of key contacts for major gift planning. Foundation board has set in motion the process for strategic planning. MnSCU $1.1M grant approved October 21st for a student housing project near TRF campus. This will generate an affordable housing option for Northland students. Cultivation of leads for building scholarship capacity is ongoing. Indicate your initiative status: Not started X Initial progress made (up to 25%) Reached project mid-point (up to 50%) Identify key activities and milestones accomplished this quarter (Oct-Dec) Default rate has been reduced due to recent work from the financial aid office and work group at the college (started last year) New software was installed through the Foundation that makes online application for all grants and scholarships easier. Increases in Project near completion (up to 75%) FY 16 project tasks completed (100%) Project paused Identify key activities and milestones planned for next quarter (Jan-March) Financial Aid people will go the road to 21 regional high schools and meet with parents and students to discuss financial aid application and management Hold financial aid night for any interested people at college. The focus is on the Identify issues/concerns (if any) identified applications have already been noted for the spring 2016 semester. This will reduce financial aid borrowing. financial aid process and costs not necessarily NCTC. Annual Fund Drive Letter Follow-up with major corporate donor Visited with a Major Corporate Donor Launch housing project website, leasing applications Executive Director attend a one-day fundraising Hiring of Housing Manager workshop. Award spring scholarships Establishment of a new fully and initiate fall scholarship funded ($10,000) scholarship process. Significant addition ($10,000) Co-host alumni basketball to an existing scholarship tournament. (donor fund. cultivation) Total donations received Oct.-Dec. 2015 total $75,064. Scholarship campaign work will launch spring 2016 and will be reported on in April 2016 College recognizes foundation staff shortage and has taken steps to help solve concern - Hiring Housing Project manager ASAP Exec. Director will go full-time in the next few weeks.