Will the COVID recession usher in new progressive financial aid policies?
Reported by Education Dive, the mission of making college affordable for those who need it the most is more critical than ever. So how can we look to recent test pilots for inspiration and direction? Like University of Michigan’s recent HAIL Scholarship study, which provided free tuition for students with household incomes below $60,000. This study showed that despite being available, students who received materials explaining the program were more than twice as likely to apply and enroll.
The takeaway? More and more institutions are creating “meet full need” financial aid policies, but funding these programs may require a significant increase in higher-income students, as well as full-pay international students who look like they’ll have a much harder time staying here this fall.
May you continue to fight the good enrollment growth fight at your institution today, and we’ll see you again tomorrow.
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