Message from the Director
The Office of Financial Aid & Scholarships is excited to share our 2016-2017 Annual Report with the campus community. In this report, we present information about financial aid awards at GVSU during the 2016-2017 academic year. We also highlight ongoing and future office initiatives within each of our four primary areas: financial aid, scholarships, student employment, and financial literacy.
In the coming year, our office will focus on the University’s strategic plan as it relates to retention. Through proactive communication and outreach, we will focus on programs such as The Grand Finish scholarship and many other campus-wide initiatives. We will also continue to work with local high schools, organizations, and the campus community to bridge the gap for students that need financial assistance to make attending college a reality.
Timely persistence to a degree and success beyond college correlate directly with a student’s ability to make educated decisions regarding available financial aid, scholarships, and employment resources. We provide individualized financial aid counseling and financial literacy programming as part of our ongoing effort to help students understand their financial aid options, become financially educated, and graduate in four years.
The Office of Financial Aid & Scholarships strives to provide students with knowledge and resources that will enable them to graduate in a timely manner and enjoy success thereafter. We look forward to working with our campus partners during the upcoming academic year to educate students to shape their lives, their professions, and their societies.
Sincerely,
Michelle Rhodes,
Associate Vice President for Financial Aid
2016-2017 Annual Report Navigation
Financial Aid Overview
Financial aid is awarded in the form of grants, loans, scholarships and work study.
For the purpose of this report, we have broken down financial aid into 4 sources: federal, state, Grand Valley (general fund and private donor funds) and outside agencies. Grand Valley strongly encourages all students to file the Free Application for Federal Student Aid (FAFSA) as this is the primary application for the majority of financial aid programs.
35%
Students Graduate Without Student Loan Debt
90%
Students Received At Least One Form of Financial Aid
31%
Students Received a Federal Pell Grant
"My daughter is a third year student at GVSU and the [Office of Financial Aid & Scholarships] has always been more than helpful and a blessing!"
– Parent of a Current Student
Grants
Grants are a type of financial aid that do not need to be repaid. They are usually awarded on the basis of need and possibly combined with some skills or characteristics the student possesses. Sources for grants include the federal government, state of Michigan, and Grand Valley.
6400+
Students Received a GVSU Grant
Office Initiative: Targeted Email Outreach
In an effort to reach students based on their circumstances and needs, and to improve persistence and retention, we engaged in more specific targeted outreach efforts. This more personalized approach allows us to be more specific when requesting documents and explaining circumstances to students and families.
Loans
Student loans, like any consumer loans, must be repaid with interest. In addition to federal loans, there are alternative loan options available to students. Federal loans often have the best interest rates, deferment options, and repayment plans.
2016-2017 Total Loans
|
Federal Direct Student Loans |
$115,736,694 |
|
Federal Perkins Loans |
$852,945 |
|
Federal Nursing Loans |
$25,207 |
|
Federal Direct Parent PLUS Loans |
$43,919,095 |
|
Federal Direct Graduate PLUS Loans |
$6,515,092 |
|
Alternative Loans |
$14,024,940 |
|
Total |
$181,073,973 |
"The staff in the Financial Aid Office are so very knowledgeable and helpful. They are also so pleasant to talk to. WONDERFUL STAFF!!"
– Parent of a Current Student
Scholarships
Scholarships are made available as a resource to help students fund their educational costs. Scholarships are supported by the state, Grand Valley, and outside agency funds. Grand Valley scholarships are awarded through the general fund and/or private donors.
19,112
Scholarship Awards
31%
Students received a merit and/or donor funded scholarship
6,645
Students submitted applications on myScholarships
Office Initiative: Scholarship Success Collaboration
Our scholarships division teamed up with Laker Connections Student Success Collective (Brothers: Black Male Scholars, Laker Familia, Niara, and Queer Connections) and TRiO programs across campus. Together we’ve assisted over 100 students with applying for scholarships and writing effective essays.
Student Employment
Student Employment can help pay for indirect costs. Student Employment aids students in obtaining employment that will help finance their education and develop work skills for their future career.
7,280
Student employees on-campus
Chemistry Department - 2016 Student Employee Appreciation Days Department Decorating Champions
$2,261
Average Wages Earned by Student
Student Engagement
Students who are engaged on campus are more likely to do well academically and complete their degree. An on campus job is a great way to get involved!
MoneySmart Lakers
Become a MoneySmart Laker. MoneySmart Lakers is a financial literacy program that aims to educate current students about their personal finances. The goal is to provide students with the tools and resources to help them understand their finances and to help develop or define their money management skills.
324
Student Loan Exit Counseling Appointments
2016-2017 Student Engagement
|
Number of Individual Appointments |
394 |
|
Fall Presentation Attendees |
418 |
|
Winter Presentation Attendees |
706 |
MoneySmart Program Offerings
Individual Appointments: Students meet individually with peer mentors to discuss specific personal finance questions or issues a student might be facing. Students are able to request these appointments over by utilizing an online request form on the MoneySmart website.
Group Presentations: MoneySmart Lakers has several stock presentations created on various financial topics available for classroom or group presentations. The information in all presentations represent research and expertise from leading studies and members of the financial field. There were 50 presentations held in the fall semester, and 28 presentations held in the winter semester.
MoneySmart Academy: This series was a customized program designed to provide participants with too ls and resources to help them understand their finances and to help develop or define their money management skills. Sessions were held during the Fall and Winter semester, and had over 55 attendees! One participant from each session won a $300 Scholarship.