NASFAA Under-Resourced Schools Scholarship
Without adequate support, aid administrators can't succeed — and our students will suffer the consequences. NASFAA members have access to the training and professional development needed to upskill their teams and help every person on staff confidently navigate the complexities of their role, but some schools simply don't have the resources to join NASFAA and take advantage of the many benefits offered.
As part of NASFAA Gives Back, NASFAA is developing a scholarship fund to provide a temporary bridge for under-resourced schools that may be facing financial hardship or distress, and give them an opportunity to access NASFAA membership, tools, and resources.
In 2021, NASFAA convened a group of members to explore ways to support under-resourced institutions, who over time have reported that they find the cost of NASFAA membership, or particular NASFAA services, to be unaffordable. The work of that task force and feedback from NASFAA's Financial Affairs Committee and Board of Directors was the impetus for the creation of this institutional scholarship.
Institutional Eligibility Criteria
To qualify to apply for the scholarship, an institution's total core expenses per full-time equivalent (FTE) must exceed its total core revenues per FTE for three consecutive years; the data to calculate this information is available from the Integrated Postsecondary Education Data System (IPEDS).
Selection Committee
A selection committee charter will be developed under the direction of the NASFAA national chair, and members will be appointed annually to solicit and review applications from qualified non-member institutions. It is expected that the bulk of the committee's work will take place from January to May each year. Keep an eye on our volunteer opportunities page for announcements.
Scholarship
The selection committee will select up to six institutions annually, one per region, to receive the scholarship. Each institutional recipient would receive the following package of benefits:
Scholarship Benefit |
Cost Savings Per School |
|
One year of NASFAA Dues + Value Plus membership package |
$893*+ $1,495 = $2,388 |
|
Virtual Conference |
$300 |
|
In-person National Conference |
$649 |
|
In-person Leadership Conference |
$685 |
|
Specialized Mentorship |
For example: A staff-presented demo of NASFAA's Compliance Engine and P&P Builder |
*The number above is an estimate of average membership dues. NASFAA standard dues are calculated as follows: Dues Calculation for all Institutions is an $840 base fee plus the Institutional FTE from IPEDS multiplied by 9.5%.
Timeline
The application window is now closed and selected scholarship recipients were announced at the NASFAA 2023 National Conference in San Diego, CA in June 2023.
