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Develop Action Recommendations On Student Financial Aid

Develop Action Recommendations On Student Financial Aid. Dr. Said Khan Kalil , Vice Chancellor Agriculture University of Peshawar Nasir Kazmi , Deputy Chief of Party HEC-FAD Program. Key Observations. Unavailability of dedicated staff to run financial aid programs.

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Develop Action Recommendations On Student Financial Aid

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  1. Develop Action RecommendationsOn Student Financial Aid Dr. Said Khan Kalil, Vice Chancellor Agriculture University of Peshawar NasirKazmi, Deputy Chief of Party HEC-FAD Program

  2. Key Observations • Unavailability of dedicated staff to run financial aid programs. • Lack of capacity to manage and run financial aid programs • Absence of MIS applications • Delays in the short-listing of applications • Slow tracking of individual financial aid applicants • Integration with Finance and Results sections • Absence of mechanism to randomly verify information provided by the scholarship applicants (short-listed) • Lack of organized internal and external review process – impact studies

  3. Key Observations

  4. Financial Aid – Minimum Standards • Staffing • Manager - Financial Aid • Admin / Account Assistant • Office Space • One room (to begin with) • Furniture, Equipment and Tools • Computer(2), Printer (1), Scanner (1) and UPS (2) • Office Tables, Chairs, File Racks and other accessories • Online MIS application (customized)

  5. Financial Aid – Minimum Standards • Training and Development • Periodic Process Reviews • Internal (Management, Faculty, Administration) • External (HEC, Donors) • Impact Assessments • Case Studies • Mid and End term evaluation for each program • Interviews of beneficiary students

  6. Financial Aid Mechanisms • Existing • Scholarships • Need Based • Merit Based • Merit and Need Based • Loan Program • National Bank of Pakistan • Internal (in very few cases)

  7. Financial Aid mechanisms to explore • Work-Study Programs • Students receive aid from university or government in exchange for limited number of work hours per week on campus • Internships (Paid) • Students work for companies, non profits or government for minimum wage plus academic credit • Cooperative Education • Students work off campus for entire semester at a company / agency linked to it academic specialty (business, IT, Eng., Agri) for a good wage (no academic credits) and gain work experience

  8. Financial Aid mechanisms to explore • Student Loans (forgiven for key areas) • A percentage of the loan balance is forgiven for each year but the graduate works in a key field (teaching, medicine, IT business, agriculture) • Higher Education Saving Programs • Parents place money into a special investment account to be used to pay university fee. Government provides matching grant. Principle loans are tax free • Other ????

  9. Activation of Financial Aid Mechanisms • Is the mechanism viable (practical )? • What percentage of total students’ strength may be the beneficiary per year? • What incentive does the university have to initiate a financial aid mechanism? • Should the participation of students in a specific mechanism add to their credit? • Staffing & training required? Explain. • Additional funds to be allocated by the HEIs to activate this? Explain. • How the participation would effect students’ enrolment and performance?

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