Monday, February 4, 2013

Fewer Bucks, More Bangs - Kevin Kiley, Inside Higher Ed

Colorado higher education doesn’t have the money to get exactly what it wants. So it's trying to buy something else. The Colorado Commission on Higher Education approved Tuesday a new state financial aid distribution policy that will increase financial aid awards when students meet certain credit milestones and eventually decrease awards if students do not graduate in a timely manner, among other changes. The new policy reflects something of a shift in objective for the state aid program, said Matt Gianneschi, deputy executive director of the Colorado Department of Higher Education. During the past five years, the number of needy students increased, state appropriations for aid fell or held constant and the price of college increased. The commission found that its awards were not substantial enough to affect students' college choices. Rather than trying to make college affordable – the traditional aim of state aid programs – the new Colorado policy is designed to motivate students to complete credits and institutional administrators to help students get there. http://www.insidehighered.com/news/2013/01/29/colorado-shifts-focus-state-grant-affordability-completion