closing the information gap between advising and financial aid/tops
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Closing the Information Gap between Advising and Financial Aid/TOPS. March 4, 2013 Cindy Perez, Director Financial Aid Bette Harris, Director Academic Success Center. Students. Academic Advising. Retention Progression Graduation. Financial Aid & TOPS. Other. - PowerPoint PPT PresentationTRANSCRIPT
Closing the Information Gap between Advising and Financial Aid/TOPS
March 4, 2013
Cindy Perez, Director
Financial Aid
Bette Harris, Director
Academic Success Center
Students
Academic Advising
Other
Financial Aid & TOPS
RetentionProgression Graduation
UL Lafayette Retention Rate
• 2nd year – 74%• 3rd year – 61%• 4th year – 56%• Graduate in 4 years -15%• Graduate in 5 years – 36%• Graduate in 6 years – 44%
UL Lafayette Latest TOPS Continuation Rates
• FTF with TOPS – 65%
• 2nd year with TOPS – 65%• 3rd year with TOPS – 50%• 4th year with TOPS – 46%• Grad in 4 years with TOPS – 17%
What should advisors know aboutFinancial Aid (FA)?
• Passing grades are required
• Academic progress affects availability
• Max number of credit hours
• Received for courses required in major
What should advisors know aboutFinancial Aid (cont.)?
• Part-time students receive reduced award
• Is limited
Pell - 12 semesters Loans – Aggregate loan limit is $31,000 TOPS – 8 semesters
FA Requires Satisfactory Academic Progress (SAP)
• Undergraduate SAP 2.0 GPA Complete 67% of enrolled classes Take courses required in major Max time – 180 hours
SAP-Warning/Probation
Good standing Met SAP & is eligible for aid the next semester
Warning Fails to make SAP Can receive FA while on warning
Probation Failed SAP, but was approved FA appeal Eligible for FA one semester with specific requirements
SAP Appeal Process
Must be enrolled to appeal Reasons – death, illness or injury, military service, etc. Documentation – death certificate, physician’s statement,
military orders, etc. Must email student statement with their Academic Plan
Earning Financial Aid Back
Greater than 180: Can not earn FA back
Less than 180: Pay for at least half time and earn a
2.00 GPA with 67% completion
I’m going to get it back!
Access websites
www.studentaid.ed.gov -- Information
www.fafsa.ed.gov -- Application
www.osfa.la.gov -- TOPS
www.studentloans.gov -- Federal Loans
www.irs.gov -- Retrieve Tax Transcript
www.finaid.org -- Information
TOPS Opportunity Award
• $1,963 per semester
• $3,926 per year
• $15,704 over 4 years
TOPS Requirements
Cont full-time enrollment (14th class day) Min 2.0 cumulative GPA to receive TOPS in
spring semester 24 credits per academic year
Aug–July (includes intersession & summer) Opportunity Award – Min 2.3 GPA 1st year,
2.5 every other year Performance & Honors Awards – Min 3.0 GPA
Problem Areas for Students
Inability to differentiate between academic status
& FA status
Not progressing in major
1,700 students with 45+ hours and not in
Upper Division
325 with 90+ hours and not in Upper Division
Discussions between Advisors and Students
Drops & resignations
Repeat courses
Transfer credits
Incompletes
Major changes
Where do I
start?
Advising Sessions
Academic performance
Scheduling/sequencing of courses
Program requirements & progression
Advising students out of major if necessary
Refer to Career Center, Learning Center, Writing
Center, etc.
Any Questions?
TestTo receive Advisor Training credit (for
advising awards) please right click here and select “Open Hyperlink”. After
completion, save the file as your name; then attach the file in an email to
[email protected] or print and send your answers through campus mail to Kimberly
Benoit c/o Academic Success Center