Given the current state of the economy, I thought it would be worthwhile to understand what financial aid administrators are experiencing on the front lines today. By counseling students and families, financial aid administrators gain insights as to what matters to their "customers." The list below indicates that families are focusing on "free money" first by asking about scholarships/grants and work study/job opportunities.
Here is a summary of a recent SLA Flash Survey on Financial Aid Counseling (Download available here: Download SLA_Flash_Financial_Aid_Counseling_062209.) Results are based on responses from 178 financial aid administrators in mid-June:
- The five issues discussed most frequently in counseling sessions by financial aid administrators were:
–
- Scholarships/grants
- 94% of respondents indicated that this issue was brought up "very frequently" or "frequently" –
- Work study/job opportunities –
- Professional judgment –
- Understanding differences between Federal and Private Loans
- Impact of scholarships on financial aid –
- Scholarships/grants
- 86% of financial aid administrators indicated that the number of students and families counseled had grown in the past year
- 19% of respondents indicated that they had seen an increase of over 20%
- Respondents identified the importance of these organizations in providing resources to assist them in counseling students/families:
- Experienced, in-house staff to lead training sessions
- NASFAA national, state and local conferences and webinars
- Department of Education
- Guarantors, lenders and other state agencies
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