Tim Copeland's Blog on College & University Marketing and Enrollment Management

New Study Shows Retention Rates Improve By Targeting Students Receiving Pell Grants for Supplemental State Aid

Strategically targeted need-based financial aid dollars could improve higher education student retention rates—increasing chances of a student graduating from college with a degree.

This according to a new study by American Institutes for Research (AIR) and Noel-Levitz. By targeting supplemental financial aid to students receiving Pell grants in Louisiana, retention rates improved by more than 14 percent.

In Targeting Financial Aid for Improved Retention Outcomes, study authors investigate financial aid policies and approaches affecting public higher education institutions in the state of Louisiana and suggests a research-based approach to leveraging declining state resources in order to enable the greatest possible number of students to complete their postsecondary education.

The study examines financial aid policies and approaches affecting four-year public institutions in the state of Louisiana. Key findings include:

• Pell Grants improve retention rates for those students who are the most at-risk.
• Pell Grants help overcome differences in retention rates across income levels among students with equivalent academic preparation.
• When Pell Grants are coupled with Louisiana’s GO Grants – which assist nontraditional and low to moderate income students in need of financial help to afford college – student retention rates improve by 14 percent compared with students receiving Pell Grants alone.
• Increasing GO Grants up to $4,000 and targeting the aid to students with weak overall financial aid awards could increase Louisiana’s retention rates (and ultimately their graduation rates), while saving the state hundreds of thousands of dollars annually.

“The study strongly suggests that raising aid levels from state programs to students receiving Pell grants would increase retention rates and save Louisiana money. This is an approach with potential application in states throughout the country,” said co-author Mark Schneider, an AIR vice president who has conducted extensive research on the cost of college dropouts to taxpayers and communities.

“What’s powerful about this report is it shows us that redirecting the scarce resources we currently receive… into increased awards for students who need it the most will result in the best return on our investment when it comes to keeping students in college,” Louisiana’s Commissioner of Higher Education Jim Purcell said in a statement released by his office.

Noel-Levitz President Kevin Crockett said the study showed that “if you’re able to target your available dollars on getting students to the 55-60 percent funding level no matter what the source, you’ve gotten the best results possible.”

The financial aid study was based on 37,251 full-time student records during the fall terms of 2006, 2007 and 2008 from Louisiana’s public statewide and regional four-year universities and was funded by the Bill and Melinda Gates Foundation

Do You Love Your Enrollment Marketing Job?

Do you love your marketing job?  If you do, you might be in the minority, according to CareerBliss, an online career community dedicated to helping find workplace happiness. I found a piece by blogger Selena Blue about the perception of marketing jobs ... and one where I was quoted.

CareerBliss determined the top 10 hated jobs by analyzing hundreds of thousands of employee-generated reviews from 2011. And, two marketing management positions landed on the list.

Director of Sales and Marketing hit at number two, with only IT Director beating it out. Ouch. And Marketing Manager slipped on the list at number 10 spot.

What makes marketers dissatisfied with their jobs? Read the following post excerpt ...

“A LACK OF DIRECTION FROM UPPER MANAGEMENT”  As Tom Fishburne, Founder & CEO, Marketoonist, depicted in this cartoon, sometimes Marketing is expected to create magic out of nothing. Marketing directors and managers noted the lack of direction from higher up the hierarchy as major factor in job dissatisfaction.

And, seeing both directors and managers feel this way, you can spot the domino effect. Executives give no direction to upper management (i.e., the director of sales and marketing); so then, upper management gives middle management (i.e., marketing managers) no further direction than they had received themselves.

Upper management is where the change needs to begin. If receiving direction is a problem, work to fix it. The job of upper management should be to establish clear goals for the rest of the marketing department. Where do those goals come from?

Additionally, upper management should work with the C-suite to completely align the company’s goals with the customer’s needs. Marketing is about listening. As Kristin Zhivago, President, Zhivago Management Partners, said at B2B Summit 2011, “Current customers will teach you how to sell to new customers.” The C-suite doesn’t always get immersed in what customers are thinking and saying. So, it’s up to marketing to listen and translate those messages.

From there, the clear goals should be relayed to middle management. Managers can then translate those overarching goals into actionable and attainable goals for employees. They should break down barriers and open a flow of ideas. An environment with idea exchange will not only be a happier one, but a more effective one as well.

But, what if you’re in middle management and you director doesn’t keep with this ideal strategy? From CareerBliss’ most hated jobs study, we see many middle managers place all t's phe blame on upper management for their lack of direction. If direction is not relayed, look differently at the situation.

Tim Copeland, CEO, DemandEngine, suggested that “you have a responsibility to fill in the blanks.” Managers are not there to simply pass off assignments. Instead, he says, they’ve been hired to fix problems.

Well, it may be a rather large problem, but no direction is still a problem. So don’t gripe about your job; do something about it.

You can read Selena Blue's original piece over at the Marketing Sherpa Blog