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Minnesota Office of Higher Education

Minnesota Office of Higher Education . Meredith Fergus 03/13/2014 Minnesota Senate Higher Education and Workforce Committee. OHE Updates. State Grant Projected Balance Getting Prepared / SLEDS Institutional Participation in State Student Aid Programs Report . State Grant.

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Minnesota Office of Higher Education

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  1. Minnesota Office of Higher Education Meredith Fergus 03/13/2014 Minnesota Senate Higher Education and Workforce Committee

  2. OHE Updates • State Grant Projected Balance • Getting Prepared / SLEDS • Institutional Participation in State Student Aid Programs Report

  3. State Grant Projected Balance November 15, 2013 $9.125 million February 15, 2014 $17.594 million March 10, 2014 $20.551 million

  4. State Grant Projections Formulated using a series of adjustments. Step 1: Base spending (Applicant Data) Step 2: Income changes (MMB) Step 3: Federal Need analysis (U.S. Dept of Ed) Step 4: Pell Grant change (U.S. Dept of Ed) Step 5: Tuition increases (Institutions) Step 6: Enrollment weighting (Institutions) Step 7: Verification & vetting (Cash Flow Reports)

  5. Current State Grant Projection

  6. Getting Prepared / SLEDS Joint project of higher education, K-12 education and MN.IT • Report planned for 2013 but delayed due to data issues • First official report from SLEDS • Significantly expands the information provided as compared to the 2010 report Target Date: March 31, 2014

  7. Getting Prepared / SLEDS

  8. Getting Prepared / SLEDS

  9. Getting Prepared / SLEDS Part of SLEDS development is to allow the use of the latest mobile analytics technology allowing students, parents and policymakers to interact with data across years, schools and colleges; Available fall 2014

  10. Institutional Participation in State Student Aid Programs 2013 Session Laws, Chapter 99, Article 2, Sec. 26. • Report on available and appropriate data to be used as statutory criteria to determine whether a higher education institution should be allowed to participate in state financial aid programs. • Among other data, the data could include: • an institution's completion/graduation rates, • student debt to income ratios, and • Employment rates related to field of study. Report is available online http://www.ohe.state.mn.us/mPg.cfm?pageID=2014

  11. Institutional Participation in State Student Aid Programs Rationale To more efficiently use state dollars to achieve state goals Identifying Priorities • Ensure access • Ensure affordability • Ensuring quality of educational programs as measured by student success

  12. Institutional Participation in State Student Aid Programs Priority 1: Access Enrollment of target groups: • Lower income students, including Pell Grant and State Grant recipients • Students of color • Students age 25 or older > suggested additions: Transfer students, Non-Metro/Rural students Priority 2: Affordability Affordability for students can be measured by the following metrics: • Average net price paid by lower-income students • Annual borrowing rate and amount borrowed • Cumulative debt of graduates

  13. Institutional Participation in State Student Aid Programs Priority 3: Student Success Student success is a key component in measuring the quality of educational programs Facilitating Student Completion • Retention / Persistence Rates • Graduation / Completion Rates Post-Enrollment Outcomes • Graduate School Enrollment Rate • Employment / Job Placement / Wage Rates Return on Investment • Loan Default Rates • Debt to Earnings Ratios

  14. Institutional Participation in State Student Aid Programs Next Steps for OHE Confirm state priorities & form a stakeholder working group • Finalize metrics; Metrics should recognize the diversity of institutions • Gather additional data • Identify high performing institutions • Engage in discovery • Develop recommendations for legislative action and investment Align with other state policies and investments

  15. Minnesota Measures 2014 • Now available online http://www.ohe.state.mn.us/mPg.cfm?pageID=1733 Interactive infographic

  16. Questions?? Meredith Fergus Minnesota Office of Higher Education meredith.fergus@state.mn.us 651-259-3963

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