Great approach, Angel. It's great to hear that you work to gain a clear understanding of the student's situation when it comes to this challenge. I'm guessing that you share that information with the financial advisor as well. Also, love to hear that you have the financial "expert" handle the specifics when it comes to dealing with tuition challenges.
I often have them schedule some time with a financial advisor, and also ask questions,a nd get to know their scenario first.
Thank you for sharing, Diana. It sounds like it is common practice at your institution to offer students the information they want regarding financial aid in a variety of ways. This is an excellent approach because it allows you to serve up the information in the way the student might be most likely to remember it.
Our admissions personnel do acknowledge a prospective student's question if it is presented prior to them covering the tuition and fees; they demonstrate value throughout the interview process; address questions; provide access to our financial aid personnel if the prospective student requests more detailed information and assists them in resolving all outstanding concerns prior to the prospective student enrolling in one of our institutions.
Thanks for sharing, Luc. What other financial options might you discuss besides the no interest loan?
Offer a no interest loan with small payment monthly
that the student can cope with and will continue payment after graduation when they are not qualify for available financing.
Using the resources made readily available through your financing department is a great place to start. It also sounds like in addition to using available resources, you also believe it's important to let students know that you are also a resource for questions they may have. What are some additional tools that you'd like to have to help you address this challenge?
Use every tools that are available in the financing areas and help students to find them.
Excellent awareness, Jason! I get the sense that you recognize how important this decision/investment is to your students and are willing to take the time to allow them to process the decision and ultimately decide what's best for them. Keep up the good work!
They usually respond well...though it can be hard for them to see this as an investment in their future.
That process of understanding this investment will pay off in the end can take months. One has to be patient during this process.
It sounds like you work to highlight the value of the student's investment in addition to offering general financial options, Jason. How do you find your students respond to your approach?
I really like to show students how a degree from my school can really change their lives.
-Money
-Confidence
-Support Family
-First from family to go to college
-Potential Earnings
I might try going over all of the general financial options listed in the module. I believe it shows the student that there are a number of financial options avaliable.
The current total cost of the programs is 9750.00
FA is available through the Federal Gov't. The training transfers to the local junior college(30 semester hours). We have a 900 hour course. I also tell students there are tax credits available if they pay Federal Income Tax.
Lastly, the largest employer in NE Ohio is the Cleveland Clinic with University Hosiptals second and if they apply themselves in a meaningful way career opportunities exist that will dwarf the cost of CIDMA.
You have to plan for your education and put money aside. There is federal financial assistance always available to assist you with the cost of your education.
When a prospective student has a concern about the cost of the program, I try to make them see it as an investment and not just as a cost factor. I also advise that if they are eligible they may qualify for Financial assistance.
Still in training, I'm seeing that our school goes over grants and scholarships first in explaining financial aid. I want to make the suggestion that we first address monthly payments and students loans so we're not giving students a false sense of availability for the free money options.
It sounds like you try to help your students understand the financial investment in school, Claudia. How do your students typically respond to questions regarding how they currently spend their money?
It is important to ask the student to do a financial inventory on how they spend thier money. Usually, they notice a pattern and some become proactive to start improving their financial habits.
Great Stacey! I am glad that you found a new, helpful tool. Keep us posted how it goes. It sounds like you like to address the student's questions and concerns too, which is also wonderful.
Usually I would just go over the tuition and fees with them. Or if it was an issue in the beginning I would just address it in the beginning of the appoint.
However, I really like how you take the steps to acknowledge the question and say that will cover financial aid soon. I think that gives you the opportunity to find out more about the person and what other issues/road blocks that they may have. You get to know them a little more.
I am definitely going to try that and that is a nice way to lead into introducing them to the financial aid department.
