MASFAA Strategic Plan 2002-2007

1. MASFAA Strategic Plan2002-2007

2. Mission Statement • The Massachusetts Association of Student Financial Aid Administrators empowers its members to be educated, engaged, and effective professionals.

3. Vision Statement • To be recognized as a model for leadership in financial aid

4. 1. Goal: Make MASFAA a vital part of the professional life of its members Strategies: • Mentor, support, and retain financial aid professionals • Better understand the needs of membership • Promote membership involvement • Provide appropriate forums to engage seasoned professionals • Increase awareness of MASFAA’s power and influence • Enhance the sense of community among members • Improve communication within the membership and with external constituencies

5. 2.Goal: Insure that the Mission is known, understood, and implemented Strategies: • Publicize the Association's new mission, vision, and goals • Evaluate and align committee goals and activities, with the mission, vision, and goals • Evaluate and align the budget with the mission, vision, and goals

6. 3. Goal: Provide professional development and training opportunities that meet the needs of all MASFAA members Strategies: • Structure and fund the Professional Development and Training Committee so that it becomes the pre-eminent activity of the Association • Annually research the needs of the members • Develop new and innovative training vehicles that include new methods, means, and media • Increase the participation rate of the membership in annual professional development, training activities, and annual conference

7. 4. Goal: Strengthen MASFAA’s financial position Strategies: • Review current sponsorship program, explore diversification of revenue stream, and re-evaluate reserve requirements • Initiate grant-writing opportunities • Review all expenditures to determine appropriateness • Seek free alternatives to current expenses • Annually review all fees charged to members

8. 5. Goal: Take a strong leadership role in the legislative, regulatory, and funding process on issues related to financial aid Strategies: • Monitor federal and state legislation, regulations, and funding levels • Keep membership informed • Prepare a MASFAA response when appropriate • Encourage individual advocacy • Encourage collaboration with other agencies, to these ends

9. 6. Goal: Participate in and actively promote the efficient delivery of student financial aid Strategies: • Provide a forum to facilitate discussion with delivery partners • Monitor changes in the industry • Keep membership informed

10. Weaknesses of the Association • Lack of energy within the membership • Lack of participation among senior members • High turnover in the financial aid profession • Lack of member understanding of the Association's political power/influence • Limited time of many members to participate more fully in the Association • Lack of training opportunities in certain areas • Failure to tap the expertise of the Association's Past Presidents

11. Strengths of the Association • Part of a national network • Large pool of dynamic and enthusiastic volunteers • 32-year history • Relative financial stability for the present • Good relationships with partners • Good organizational leadership • Diversity of member institutions • Opportunities for networking • Large membership base

12. Strengths of the Association • Past successes in association activities • Level of expertise within membership • Membership of caring professionals • High level of technology • Many professional development opportunities • Good membership communication system • Strong early awareness initiatives • High level of commitment from many members

13. Threats and Opportunities Facing MASFAA • Apathy: Create programs that fit the needs of the membership • High level of turnover in the financial aid profession: Provide training and professional development opportunities for new members; examine retention strategies; provide Institute scholarships; develop career pathing; continue ED internship program support • Competition with EASFAA : Define Association roles and form a partnership • Institution and lender consolidation: Reexamine Association funding sources • Sources of funding (e.g., sponsorship, membership, etc.): Investigate grant writing; re-examine funding sources; re-evaluate fiscal policies in the Constitution and By-Laws • Technology: Provide technical training to members

14. Threats and Opportunities Facing MASFAA • Lack of member participation due to time constraints and limited institutional support: Identify the needs of members and offer training and professional development opportunities that suit these needs; limit associate member involvement in committees if necessary to balance participation. • Image of the Association as perceived by its members: Launch a public relations campaign to highlight the successes of the Association • Financial planners: Educate members on how financial planners mislead families applying for financial aid

15. Threats and Opportunities Facing MASFAA • Information overload: Examine ways in which to share only the most pertinent information with the membership • Technology overload: Provide workshops on technology, providing a human connection to learning new processes • Constant change in the financial aid field: Provide members with coping skills and appropriate training opportunities; diversify the membership • Lack of personal contact: Provide mentoring to new financial aid professionals

16. Critical Issues Facing MASFAA • Creating a more engaged membership and a more positive image of the Association • Increasing membership’s perception of MASFAA’s power and influence • Funding and financial resources for MASFAA • Aligning all committee work with MASFAA’s Mission • Highlighting and supporting Professional Development and Training’s focus on strong outreach to both new and seasoned aid administrators, and the level of resources available to accomplish strategic goals as articulated by Executive Council through the Strategic Planning process • Having a positive impact on Reauthorization

17. Critical Issues Facing MASFAA • Focusing on issues before they become laws and regulations, and working to repeal “bad” laws at both the state and federal levels • Recruiting minorities into the profession to reflect racial makeup of our student bodies • Continuing to explore and improve communication with members, including the use of new technologies • Placing MASFAA as a vital part of our members’ professional lives • Encouraging MASFAA’s leadership to extend into the NASFAA leadership structure