Value and Affordability

Value and Affordability Implementation April 19, 2013

Members: Mary Ann Naso, Freya Burnett, Brian Speer, Brian Ecker

Brian Speer updated the committee on a story proposal for the The New York Times on the value and affordability plan that will go on Monday. If the Times isn’t interested, we will send the release to Inside Higher Ed and The Washington Post.

A general release on value and affordability will go out the following week.

Mary Ann, Linda, and Brian Ecker met to discuss our financial aid packaging philosophy.  We have confirmed the merit award levels as well as the amount of grant aid to award, which is based on the percentage of the cost of attendance.  We have decided to not move forward with the idea of a full scholarship for valedictorians.

Mary Ann and Brian Ecker had a phone conversation with a parent and the feedback was very positive on the debt buyback narrative and concept.  From this parent’s perspective, the intent of the program was clear and the narrative was easily understood.  There was a little uncertainty by the parent on the definition of Stafford loans; subsequently, the definition for Stafford loans was added to the press release on the debt buyback program.

We are still looking for feedback on how to start a financial literacy topics course from Mary Hendrickson.

Communications will produce a piece over the summer on affordability and value for use by the admissions office.  Brian Speer will be modifying the debt buyback narrative to make it more general for all students.  The group discussed how the career services and an alumnae network could help to tie together the affordability issue.