By Kenneth McGhee, Director of the DC Tuition Assistance Grant Program
The recent financial aid and other higher education legislation in Congress proposes numerous cuts and changes to long-standing programs. Before this type of legislation was under consideration, some colleges with branch campuses were already closed, and private colleges going out of business were highlighted in new reports. While the potential impact of possible federal cuts to higher education is being discussed, I would like to review two critical services within the control of the higher education industry that require immediate attention.
Job Placement and Internship Assistance
College administrators should review the job market by field of study and be directly involved in networking to encourage local and national companies to consider their graduates for opportunities. Your institution must go beyond only offering students resume assistance and requiring them to find their internship for possible college credit, given the cost involved in obtaining a college degree.
Internships, both on and off campus, should be available so that students can gain job experience in their field of study. Meetings with campus officials and company executives are necessary more often to discuss the skills they are looking for in new graduates and clarify the internship and hiring process.
College staff should request that the company leadership’s stated job skills requirements be directly communicated to their hiring officials and the AI programming team. This prevents students from being advised to highlight specific skills on their resume, only to have recruiters and AI systems report a mismatch or ignore them altogether.
Institutional Scholarships and Financial Aid Awarding
Tuition should only be discounted if a budget line is available to support this effort. Hoping that the current or future class will balance out the books overall is not an effective strategy. Overall fundraising, alumni giving, corporate partnerships, and auxiliary services income are ideas to revisit.
While the offer of an institutional scholarship may prompt some students and families to consider a school, it is beneficial for the institution to identify its top three to five college competitors based on institutional research data. This can assist with the website, printed marketing materials, and emails outlining what your school has to offer for students who are a good fit. This ensures that the college's scholarship funds are given full consideration.
Outlining payment plans, including government and private loans for parents, upfront, helps manage expectations. If a family is waiting for their financial aid offer to make a final enrollment decision, and your school mainly awards most students only what they qualify for on the FAFSA, make sure this is covered on your website and in campus presentations to avoid last-minute decisions to enroll in other institutions.
Aligning on Value
It is in the best interest of all parties involved to be on the same page related to this process. A dedication to this level of support can help address the ongoing public questions about the need for attending college and whether attending college is worth the cost.