As Financial Aid Administrators (FAAs), we know the importance of completing the FAFSA to qualify for federal, state, and sometimes institutional funding. However, over 33 percent of students and families did not complete the FAFSA last year. According to a survey by the National Center for Education Statistics, the top reasons why families do not complete the FAFSA include not having enough information to complete the FAFSA, not knowing they had to complete the FAFSA, believing the FAFSA took too much time to complete, not wanting to go into debt and thinking they would not qualify for financial aid.
We’ve compiled three ways institutions can assist students and families combat these concerns and complete required financial aid documents, assisting with both enrollment and retention:
- Communicate about deadlines and benefits. Fifteen percent of the students and families surveyed were not aware they could complete the FAFSA. Communicating with students is important to share which forms are required for financial aid. Research has shown that students are more likely to pay attention to “nudging” techniques if the sender is familiar, such as a school they are applying to or a staff member they may know. In addition to promoting the FAFSA, students and families need to know deadlines for their chosen institutions and potential financial aid packages available.
When developing a communication campaign, it is important to keep these four questions in mind:- Who should be sent the communication? Students, of course, should be the target of the communications. Implementing segmentation based on data or predictive analytic tools to determine which students need additional information, such as “at-risk” factors of both prospective and current students, can ensure students are receiving relavent information to help them enroll or retain. Where applicable, parents should also be included in communication plans. Developing specific communications for parents, rather than simply including them in student communications, can assist both students and families in completing required documents. Schools should use caution when developing parent communication as some may be protected by FERPA, but including parents in communication is key.
- Which content should be included in the communication? Depending on the communication medium, there may be character limits. Messages should have a clear call to action, be relavent to students, and be as specific as possible. Students want customized, not just personalized, information in their communication. Using data can help determine not only the “who,” but also the “what” in order to make communication important to the student and family.
- Which mediums are included in the communication plan? Majority of prospective students are “digital natives” and expect institutions to meet them where they are. While email is the primary medium used on campuses, communication plans should include more than just email. In today’s age, there are many platforms to communicate with students and families, including email, text messages, phone calls, social media, websites, and more. Students in high school and college communicate more through text messages and social media, but incorporating various mediums will ensure that students and families see the message. The information may be helpful, but it’s not as relevant if your delivery methods don’t fit the preferences of your audience.
- When should communications be sent and how often? Messages should be timely and sent multiple times as a reminder to complete requirements, although there is a fine line between too many and too little emails. Too much communication can lead to all institutional communication becoming noise and result in families ignoring communications altogether.
- Host FAFSA/financial aid nights or workshops. According to the survey, 23 percent of students and families did not have enough information about how to complete the FAFSA and 9 percent thought the FAFSA forms were too much work or time-consuming. With institutions hosting FAFSA and financial aid nights or workshops, students and families can ask questions as they complete the FAFSA to ensure they are entering the accurate information. Institutions can also utilize technology to allow for out-of-state families or prospective students to get answers to their questions. These events could provide a “win-win” solution for families: students can complete the FAFSA and schools can increase engagement and build relationships with current and prospective students.
- Prospective Students/Families: While hosting these events in general is important, it is also important to think about the appropriate timing. After-hours typically work best for families of prospective students, or pairing these workshops with events/visits when families are already going to be on campus. In addition to hosting these events on campus, financial aid offices can partner with local or feeder high schools to promote FAFSA completion. Many schools and counties have started hosting their own FAFSA/financial aid nights and typically look for financial aid experts to help with the difficult questions. While they typically ask not to promote a specific institution, representatives who assist with these events can use examples from their institution and promote financial literacy with students and families. Financial Aid offices can connect with other departments or the schools directly to plan these events and build relationships with families as they continue their college application journey.
- Current Students/Families: Parents typically assist their students with the FAFSA, so it is important to include parents when possible. Planning events coordinated with weekends or events that families will be on campus allows for students and families to attend and complete the required forms together, or setting up online events for families to attend from different locations. If you are not able to coordinate workshops or online events, consider hosting informational presentations, providing one-on-one sessions, or providing informational documents or videos that students and families can refer to as they complete the FAFSA.
- Promote federal, state, and institutional awards available through FAFSA. Many students and families do not know the opportunities available to them by submitting the FAFSA, even if they are already attending college. In the survey, 28 percent of students did not complete the FAFSA because they did not want to take on debt. As FAAs know, the FAFSA is used for more than just loans; federal scholarships and grants require the FAFSA to be awarded. Additionally, many states and schools require the FAFSA for their grants and scholarships. However, families may not be aware of these opportunities. Promoting the opportunities like Pell grants, federal work study, and state or institutional scholarships with families can assist families in completing the appropriate financial aid forms. Students currently enrolled at an institution may not know they can apply for financial aid each year or if an unforeseen circumstance happens throughout their college career. While some students may only qualify for loans, students won’t know what they qualify for until they apply. Knowing their options is important in helping student enroll and retain.
These recommendations are not exclusive and institutions can use one, two, or all three of these in order to continue to engage with students and families to assist with financial aid documents and student success.
Sources:
Inside Higher Ed: Why Students Don’t Fill Out the FAFSA
University Business: When does financial aid nudging work for high school seniors?
NACAC: Instant Generation