Closing the Information Gap between Advising and Financial Aid/TOPS

1. Closing the Information Gap between Advising and Financial Aid/TOPS March 4, 2013 Cindy Perez, Director Financial Aid Bette Harris, Director Academic Success Center

2. Students Academic Advising Retention Progression Graduation Financial Aid & TOPS Other

3. 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%

4. 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%

5. What should advisors know about Financial Aid (FA)? • Passing grades are required • Academic progress affects availability • Max number of credit hours • Received for courses required in major

6. What should advisors know about Financial Aid (cont.)? • Part-time students receive reduced award • Is limited • Pell - 12 semesters • Loans – Aggregate loan limit is $31,000 • TOPS – 8 semesters

7. 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

8. 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

9. 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

10. 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!

11. 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

12. TOPS Opportunity Award • $1,963 per semester • $3,926 per year • $15,704 over 4 years

13. 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

14. 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

15. Discussions between Advisors and Students • Drops & resignations • Repeat courses • Transfer credits • Incompletes • Major changes Where do I start?

16. 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.

17. Any Questions?

18. Test To 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 asc@louisiana.edu or print and send your answers through campus mail to Kimberly Benoit c/o Academic Success Center