A more competitive approach to recruitment and retention also means an increase in the number of scholarships offered, according to Keith Lamb, vice president of student affairs and enrollment management.
Funded by MSU Foundation, the scholarships would include scholarships for student housing and for students involved in campus activities.
“The reason for offering scholarships to students involved in campus activities is engagement,” Lamb said. “A student who is engaged in campus life is more likely to persist and graduate. This lends itself to retention.”
Lamb said university sponsored co-curricular programs would be considered for scholarships.
“The only new program for which we offered this type of scholarship was the all-female cheer team,” Lamb said. “We may expand this concept as we move forward.”
Students who are connected to university-sponsored, co-curricular activities persist towards a degree at a greater percentage than those who don’t, Lamb said.
“In theory, it can help with retention,” he said.
The university is also considering increasing housing scholarships.
“Students in housing tend to persist and graduate at a greater rate than students who are not in housing,” Lamb said. “There is an extensive body of literature on the importance of housing to student success.”
Lamb said it seems reasonable to offer scholarships in an area that plays a major role in student success.
New academic scholarships would be geared toward attracting high school valedictorians, salutatorians, and students who earn minimum 1150 SAT scores or 25 ACT scores, regardless of class rank.
“With out increased admission standards, our pool of potential students has declined,” Lamb said. “It is important, then, to be aggressive with the students who do met our admissions profile.”
Increase awards to the President’s Distinguished Scholars and Administrators are looking for numerous outlets to help fund student’s education including recently extended the Mustang Guarantee Program to transfer students.
The program is a financial aid package available to incoming freshmen and undergraduate transfer students who meet certain criteria.
MCP will cover the remaining balance of any tuition and mandatory fees that are not covered by other grant or scholarship money.
This program does not cover room, board, books and any miscellaneous charges a student might owe.
Lamb called this program an important benefit for low-income students.
“A number of students being at community colleges due to cost and it seems reasonable that we can attract some of these students in transfer with the Mustangs Guarantee program.”
To be eligible, a student must be a Texas resident, Pell Grant eligible and have a combined annual family adjusted gross income of $50,000 or less.
“It is fundamentally fair to offer the same program to our transfer students as we do to our beginning freshmen,” Lamb said.
MSU also mandates that these students complete a Free Application for Federal Student Aid application, enroll in at least 15 hours per semester and maintain a minimum cumulative grade point average of 2.5 in fall and spring semesters to receive the benefits.
Financial Aid Director Kathy Pennartz said 314 beginning freshmen and transfer students were flagged as candidates for MGP for Fall 2012 semester.
Of these students, 123 failed to register for classes, 82 enrolled in less than 15 hours, and 83 received other forms of financial aid which covered their tuition and mandatory fees.
Of the remaining 26 students, 19 of which transferred to MSU, received a combined $41,790 from MGP.
Pennartz said students do not have to inquire about MGP to receive the aid. The system automatically flags qualifying students.
“Students are automatically identified as MGP-eligible when/if they meet the criteria,” said Pennartz. “The student isn’t required to tell us that they want the MGP.”
Just as MSU has set up a system to identify all MGP-eligible students, the university also ensures students do not abuse the program via FAFSA verification and individual student confirmation.
“Since the student must complete the FAFSA financial aid application, all information is verified in accordance with current federal regulations to determine Pell eligibility,” Pennartz explained. “After Pell eligibility is determined, I am responsible for confirming the student MGP eligibility.”
MGP-eligible students can receive the benefits for up to four years as long as they continue to meet FAFSA application, enrollment, and cumulative GPA criteria.