Financial Aid

What is the program’s mission statement or statement of purpose? Why does the program exist?

The Office of Financial Aid at Eastern Illinois University is comprised of a team of dedicated professionals committed to serving students by providing them information to secure the necessary financial resources to meet their educational goals and financial obligations to the university. We provide quality customer service in delivering information on federal, state, institutional, and private sources of financial aid.

In pursuing our mission we strive to uphold the highest degree of professionalism, confidentiality, honesty, and integrity; embrace emerging technologies; and work collaboratively with all areas of the college, recognizing that only together can we achieve our common goal to enhance enrollment, retention, and academic success of our students.

How does the program mission align with the university mission?

The Office of Financial Aid serves the entire student population at Eastern by helping students receive the financial resources needed to help them meet their educational goals.

Whom does the program serve?

The program serves all students who need assistance with applying and receiving financial aid at Eastern.

What are the services provided? How do these services align with the university mission and program mission?

Program services include information about and awarding of federal, state, institutional, and outside sources of financial aid.

These services help to provide access to undergraduate and graduate education.

Describe the program’s origins (e.g. year established, purpose, expectations).

How has the unit changed or adapted over time?

The Office of Financial Aid has grown and adapted to include all forms of federal, state, institutional, and outside financial aid, in order to provide comprehensive resources for students.

If needed, provide supplemental comments to help the reader understand the program’s history and relevance to university mission.

Provide data, if available, on the numbers of students, faculty, staff, or others served by the program during the past four years. If no data are available, please estimate the numbers served annually.

Does the program offer any co-curricular opportunities for students (e.g., internships, RSO support, service-learning activities)? Please describe.

We currently have a Graduate Assistant and we have had internship opportunities in the past.

Does the program contribute to the delivery of academic programs (e.g., providing professional expertise, serving as adjunct faculty)? Please describe.

The Director of Financial Aid is frequently asked to provide financial and financial aid information to various classes (e.g. University Foundations and Math).

If needed, provide supplemental comments to help the reader understand the internal demand for the program. Note any clarifications or special circumstances (e.g., curriculum changes made by another program) that should be considered when reviewing the above data.

Is the program accredited or approved by a recognized external agency or otherwise certified to meet established professional standards? Provide an executive summary of and link to the program’s most recent accreditation or certification report, if available.

U.S.D.O.E. Eligibility and Certification Approval Report (ECAR)  

U.S.D.O.E. Program Participation Agreement (PPA)  

Please refer to the following links:

http://www.eligcert.ed.gov/ows-doc/eapp.htm

http://www.eligcert.ed.gov/eapp/ecar?ope=001674 (secure login required)

http://www.eligcert.ed.gov/eapp/ppa_doc?ope=001674&id=29424 (secure login required)

Is the program required to meet any regulatory or legal requirements? Is the program subject to any special auditing requirements?

The Office of Financial Aid is bound by the regulatory requirements of federal, state, institutional, and outside agency financial aid programs. We are audited each year by an external accounting firm and the programs/processes are constantly under review by EIU Internal Auditors. In addition, the Illinois Student Assistance Commission (ISAC), conducts an audit of our processing for state programs, every three years.

What are the most important outreach or public service activities supported by the program?

• Financial aid nights at local high schools
• Financial literacy information outreach (e.g. University Foundations and Math)
• Free Application for Federal Student Aid (FAFSA) filing information outreach (e.g. Gateway and TRiO)
• Debut and Orientation financial aid information
• Charity events sponsored through our professional associations (e.g. Illinois Association of Student Financial Aid Administrators, Midwest Association of Student Financial Aid Administrators, and National Association of Student Financial Aid Administrators)

How do the local community and the region benefit from the program?

The community/region benefits from having local experts provide comprehensive financial aid information and contribute to local/regional charity events.

If needed, provide supplemental comments or data sources to help the reader understand the external demand for the program.

What are the two or three more important measureable outcomes tracked to assess program quality? Does the program conduct an outcomes assessment, and if so, what has been the impact?

(see 2013 Major Assessment Profile)

What are the two or three most effective best practices that the program has implemented? What benefits have been gained from implementing these best practices?

Leveraged packaging: Students are packaged with the appropriate amount of gift aid (grants and scholarships) based on a combination of expected family contribution (EFC) and academic index (high school GPA and ACT composite score). The packaging matrix is developed in conjunction with Noel Levitz and it is based on historical enrollment activity and established enrollment goals.

Coordination of scholarships: A Scholarship Coordinator was hired to help streamline the processing of scholarships on a campus-wide basis. The coordinator has been successful in developing helpful communications and processes to consolidate scholarship operations. Another key benefit is that the coordinator provides a bridge to help students, faculty, and staff with all scholarship activities.

Merit scholarships: Merit scholarships were recommended by Noel Levitz and embraced by Eastern’s administration. These scholarships help to attract bright students to EIU, with the potential to raise the academic profile of the student population over time.

What external recognitions (e.g., awards, accommodations, professional certifications, references in trade publications) have the program and its staff received in the past three years?

Is the program active with any regional, national, or international professional organizations?

ILASFAA – Illinois Association of Student Financial Aid Administrators

- Jerry Alan Donna – V.P. of Senior Public Institutions and Member, Executive Board

- Jenny Stout – Program Committee and Chair, Event Registration

- Teresa Jones – Program Committee, Event Registration

MASFAA – Midwest Association of Student Financial Aid Administrators

- Carol Waldmann, Program Committee

NASFAA – National Association of Student Financial Aid Administrators

COSUAA – Coalition of State University Aid Administrators

AVECO - Association of Veterans Education Certifying Officials

Note any presentations, publications, or offices held in the last three years.

(see above)

If needed, provide supplemental comments or data sources to help the reader understand the quality of program outcomes.

Note any special benefits (e.g., personnel support, equipment, permanent improvements) that the program has received in the past three years from its grants and other sponsored programs.

The Office of Financial Aid receives funds from participating in Federal grant programs. The funds are entered into org. 22B340 ‘Indirect Costs-Financial Aid’ and used for help fund non-personnel activities. For example, replacement computer equipment and office renovations are possible because of these funds.

How does the program benefit from donor gifts (e.g., scholarships, endowed chairs)? Does donor support provide a significant percentage of the program’s overall funding?

Donor gifts provide great benefits to students. For the last IBHE reporting year (2011-2012) financial aid totaled over $132 M, with roughly $5.5 M of the awards coming through donor gifts. That is 4.1% of the total financial aid disbursed.

List two or three key relationships that the program maintains with external constituencies (e.g., community colleges, other universities, government bodies). How do these relationships advance the university mission or otherwise benefit the university?

• Directors of Financial Aid in Illinois meet two times each year to discuss issues of common concern. These meetings help to build the knowledge base of all directors and they also move our individual operations forward. We also strategize about how to best work with the State of Illinois to continue to emphasize the need for financial aid appropriations (MAP Grant).
• The state, regional, and national financial aid associations provide training, development, and advocacy.

If needed, provide supplemental comments to help the reader understand the resources generated by the program. Note any clarifications or special circumstances (e.g., revenue pass-throughs) that should be considered when reviewing the above data.

Provide an executive summary of and link to any metrics or benchmarks that the program tracks to measure productivity.

FINANCIAL AID AWARDED (prior year)

Seventy-eight percent of Eastern’s student body received some type of financial assistance in FY 2012 in the form of scholarships, grants, loans, tuition waivers and/or employment, from various federal, state, university, and other programs. Financial aid in FY 2012 totaled $132,984,371 at Eastern, an increase of $6,648,005 or 5% over FY 2011. The percentage breakdown of financial aid sources is as follows: 68% federal, 11% state, 14% institutional, and 7% other.

FAFSA’S PROCESSED (current year)

DISBURSEMENTS (current year)

OTHER (current year and next year)

Produced Estimated Award Letters for newly admitted student who were in verification in the 13-14 academic year. On May 14, 2013, 932 letters had been produced, 168 packaged, 65 students canceled (decided not to attend), and 44% deposited (roughly 74 students).

The latest draft Cohort Default Rate (CDR) is 5.2%. This is based on students who attended EIU for a defined period of time and then defaulted on their loans while in repayment.

Actively participated in Noel Levitz (NL) Consulting for retention, recruitment and marketing, and the Enrollment and Revenue Management System (ERMS).

Packaged financial aid using the Noel Levitz leveraged packaging system for a second year in a row.

Implemented and incorporated the following new awards into the awarding/packaging processes: Commitment to Excellence I, II, III, Transfer Academic Excellence I, II, and the Panther Promise Tuition Waiver.

Assisted in restructuring the Presidential Scholars Award and the Honors Award to be more effective for the Honors College.

Developed a plan and process for communicating about available Grant-In-Aid resources to the awarding departments, to help with them with recruitment efforts.

Scholarship Activities:

• Consolidation/coordination of campus-wide scholarship activities.
• Redesigned, refreshed, and enhanced the functionality of the EIU Scholarship Search Engine. The website now includes 579 scholarships, featured scholarships, scholarship stories, donor stories, scholarship history, merit scholarship calculator, scholarship tips, outside scholarship resource information and more.  
• Developed and trained faculty/staff on the electronic Scholarship Verification Form (SVF) system. The SVF system was recognized at the Ellucian Conference for an honorable mention for effective use of Banner Workflow.
• Provided 2200 merit scholarships certificates to roughly 530 high schools. President Perry, along with staff from Admissions, Financial Aid, Honors College, and the VPAA Office presented the awards in local high schools.

Successfully transition the Satisfactory Academic Progress processes from the VPSA Office to the Office of Financial Aid. This included changing the processes and related materials to include a new federally required component, where students filing a SAP Appeal must meet with an Academic Advisor.

Produced a series of printed-based materials to aid in recruitment: Merit Scholarship Flyer, Financial Aid Information Brochure, Scholarships for Freshmen Booklet, and Scholarships for Transfer Students Booklet.

What initiatives has the program implemented to enhance staff productivity (e.g., access to training, workflow improvements)? Briefly describe the costs and benefits of these initiatives.

(see above)

If needed, provide supplemental comments to help the reader understand the productivity of the program. Note any clarifications or special circumstances (e.g., accreditation requirements, curricular changes, program restructuring) that should be considered when reviewing the above data.

If needed, provide supplemental comments to help the reader understand the costs associated with the program. Note any clarifications or special circumstances (e.g., expenditures made centrally or externally, expenditures made on behalf of other units) that should be considered when reviewing the above data.

How does the program seek to distinguish itself from similar programs at other institutions?

We are distinguished from others programs at other institutions by our merit scholarship structure for both new freshman and new transfer students. We also offer the Panther Promise Tuition Waiver to new incoming students who fall into a specific household income range.  We offer personalized attention to the various needs of students and families.

Note any unique and/or essential contributions that the program makes to the university.

The essential contribution that the Office of Financial Aid makes to the university is to help students with access and affordability.

Provide any program-specific metrics that help to document program contributions or program quality. Examples of some commonly used program-specific metrics may be found here.

If needed, provide supplemental comments to help the reader understand the program impact on the university mission.

Provide a link to or listing of the program’s goals and/or strategic plan.

PROPOSED FY14 GOALS (aligning with the Presidential Priorities below)

1-Academic Excellence

2-Global Competition and Changing Demographics

3-Emerging Technologies

4-Campus and Community Life

5-Financial Sustainability

6-Marketing and Communication

Work with ITS and other campus partners to develop and utilize an EIU designed enrollment and revenue management system to help increase enrollment and retention. (1) (5)

Increase the resources available for students. (2) (5)

Continue to provide input and resources for financial literacy efforts on campus. (2) (4) (5)

Continue to update the look and feel of the Office of Financial Aid. (4)

Continue to work toward automation of summer financial aid processing. (2) (3)

Expand office space to reduce the staff to square footage ratio. (It is likely that Student Health Insurance will be moving within the next year, freeing up critical space.) (4)

What role will the program have in the implementation of the university’s strategic plan (provide link to strategic plan)?

(see above)

In the next two or three years, what best practices, improvements in operations, or other opportunities to advance the university’s mission are likely to be implemented?

• The procurement of the Banner Document Management System (BDMS) will continue to help streamline financial aid operations and enhance customer service.
• Continue to work with ITS and other campus partners to develop and utilize an EIU-designed enrollment and revenue management system, to help increase enrollment and retention.
• Increase the financial aid resources available to students.
• Continue to provide input and resources for financial literacy efforts on campus.
• Continue to update the look and feel of the Office of Financial Aid.
• Continue to provide training and development for optimum student service. 

If needed, provide supplemental comments to help the reader understand future opportunities for the program.