Affordability of education
Freshman studying.
BY MELISSA MARKSTROM
As GMC inches its way towards a 1,000 student body, economic barriers make it increasingly difficult to attract and retain students. According to Sandy Bartholomew, Dean of Enrollment, new student enrollment is down because “like no other year, finances were a big issue.” In a survey given to committed students who end up not attending GMC, “53% gave as a reason for not coming either financial cost or distance from home.” Bartholomew said distance from home is often seen as an economic constraint.
Stricter lending practices, difficult economic times, and new federal regulations make college aspirations less possible nationwide. “In the past year, the student private loan industry has really tightened up,” said Bartholomew, who added that it’s even more difficult for families relying on home equity loans for tuition payments.
Next fall, as a way to balance the increasing financial burden, GMC will “make [the] financial aid package a little bit more generous,” said Bartholomew. “And we’re going to be providing incoming families with a lot more information about how to gain affordable loans.”
This year, returning students found stricter lending practices in the way of continuing enrollment. As the fall semester began, one senior, who wished to remain anonymous, was unable to focus on classes, books, and her various commitments as she struggled to figure out how to pay for school.
Without credit or a co-signer, VSAC wouldn’t approve her for a loan. “I’m an average student. I don’t own a bunch of credit cards. I’ve never owned my own car. In the credit world that’s seen as bad credit.” VSAC told her, besides federal loans, her only option was to apply for a private or bank loan. Her lack of credit made her ineligible for a bank loan, too. “So, I had to take out a credit card just so that second semester I have credit to take out a federal loan.” The student sympathizes with the financial aid office who is often made to be the bearer of bad news.
Director of Financial Aid Wendy Ellis said student retention was made more possible this year due to money set aside to help returning students who could no longer cover college expenses. Ellis said this year the number of students asking for more assistance than what their original financial aid package included increased.
Bartholomew said although students have more difficulty funding college, it is less difficult at a private institution like GMC than at a state college which depends on government funding. “State budgets have to cut costs and there’s nowhere for them to go but to increase tuition,” said Bartholomew. Out of state students attending UVM pay almost $4,000 more per year than those attending GMC. Journalist Bill Moyers in his book, Moyers on Democracy, refers to decreased spending from states, increased tuition, and predatory lending as “the silent privatization of public universities.”
The effects of decreased enrollment are felt campus-wide. In a four-year program to bring GMC employee pay up to the national average, the college committed to raising salaries for staff and faculty at an average of 6% each year. This year, due to factors including increased fuel prices and decreased enrollment, Dean of Faculty Tom Mauhs-Pugh said, “We just couldn’t afford to do a 6% average.” Instead, faculty and staff saw pay increases drop to an average of 3%.
This year, a new federal guideline forced GMC to change its Satisfactory Academic Progress Guidelines, making it even more difficult for students to maintain their financial aid packages. Bartholomew said if the federal guideline isn’t enforced, GMC would be at risk for a national audit. The guideline requires that in addition to maintaining a minimum GPA, students must successfully complete at least 2/3 of the credits they attempt. Attempted credits include any class which a student either doesn’t pass or drops after the add/drop period. If a student doesn’t meet these requirements, he/she is put on academic probation. Two non-consecutive semesters on academic probation result in loss of financial aid.
For example, a freshman enrolled in 15 credits who drops a course a few weeks after the beginning of the Fall semester and then fails another class that same semester is placed on academic probation. If he found himself in the same position at any other time, even as late as their junior or senior year, he would lose his financial aid. “Students may need to adjust their thinking in terms of the course load they take, the challenging courses they elect, or the amount of time they spend on their studies,” said Bartholomew. “It’s more rigorous but it’s federal guidelines, there’s nothing we can do about it.”
Although Images professors were encouraged to inform students about the new federal guideline, the consequences of the new policy could affect sophomores and juniors, too. Official notification wasn’t sent to students until a couple of months into the fall semester. Students who have questions regarding the federal guideline should visit their advisors and the financial aid office.
The college hopes that the new academic policy will not be as much of a challenge for new students, as the college looks to attract freshman of a higher academic caliber. “The class that came in Fall of 2008 had an average SAT score that was 125 points higher than the prior year,” said Bartholomew. She adds that the freshman class seems to have “hit the ground running,” and the faculty response has been positive. “We’re really pleased and hope to continue that trend,” said Bartholomew.
Short URL: http://www.themountaineer.org/?p=231
Posted by Melissa Markstrom
on Nov 23, 2008 Filed under College.
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