State Financial Aid Review

In an era of limited financial resources, it is essential Missouri’s investment in state student financial assistance programs support students in a way that also helps achieve the state’s broad postsecondary attainment and workforce readiness goals. Missouri’s current state student assistance programs address specific issues or problems that existed when each was created. However, much has changed within the postsecondary education landscape since some of the programs were developed and it is unclear if this current mix of programs is appropriate for today’s students. It is also unclear how well these programs work as a system to support student success and state-level goals.

To address these issues, the Coordinating Board’s Blueprint for Higher Education includes strategies aimed at advancing affordability, including the convening of a state student financial aid task force to make recommendations for creating a more balanced, responsive and efficient state student financial aid system. In March of 2018, the Coordinating Board approved a three-phase plan designed to implement this strategy.

• Phase one includes a task force charged with the development of recommendations that will serve as a broad policy framework for the department’s portfolio of state student assistance programs. 

• Phase two involves a committee of student financial aid professionals that will use the new policy framework as a guide to make recommendations for changes to the portfolio of programs.

• Phase three encompasses the implementation of recommended changes, either through regulatory revisions or statutory changes.

Phase One: 

This phase began in March 2018 with the appointment of the task force membership. The task force is scheduled to make recommendations for a state student aid policy framework at the June 2018 CBHE meeting. The following items provide information about the work of this group.

Links:

• Task Force Charge

• Task Force Membership Roster

• Redesigning State Financial Aid (ECS)

• How Students Use Aid (ECS)

• How Families Pay for College (Sallie Mae)

• Trends in Student Aid 2017 (College Board)
• College Cost in Context (TICAS)

April 27, 2018 Meeting

• Meeting Agenda

• Meeting Handouts

• PowerPoint

• April 27 Meeting Notes

May 15, 2018 Meeting

• May 15 Meeting Agenda

• Meeting Handouts

• Data PowerPoint

• Meeting PowerPoint

May 29, 2018 Meeting

• May 29 Meeting Agenda
• Meeting Powerpoint
• May 29 Meeting Notes

Recommendations

• June 7 CBHE Board Book item
• Task Force Report

Phase Two: 

This phase began in May 2018 with the appointment of a work group of student aid professionals to review the state’s existing programs and make recommendations to the CBHE for changes and/or additions. These recommendations are scheduled to be part of the Coordinating Board December 2018 agenda. The following items provide information about the work of this group.

June 26, 2018 Meeting

• Meeting Agenda
• Meeting Powerpoint
• Meeting Notes
• Missouri Data Profile

July 27, 2018 Meeting

• Meeting Agenda
• Meeting Powerpoint

August 24, 2018 Meeting

• Meeting Agenda

• Meeting Powerpoint
• Meeting Notes

• Redesigning State Financial Aid

September 26, 2018

• Meeting Agenda

October 26, 2018

• Meeting Agenda

Draft Recommendations

• Email message about Draft Recommendations
• State Student Financial Aid Committee Recommendations
• Single Program Outline-Missouri First Student Assistance Program

Upcoming Meetings

• November 20, 2018

Phase Three: 

This is the implementation phase, which will include consideration of changes to the regulations governing existing programs and may include a legislative package for needed changes in statute. This phase will begin in early 2019.