West Virginia`s PROMISE Scholarship (ppt)

Report
Innovative Student Aid Programs: West Virginia’s
PROMISE Scholarship
2012 SHEEO Higher Education Policy Conference
Chicago, Illinois
Rob Anderson
PROMISE Scholarship
Eligibility Requirements
• 3.0 GPA in the core and
overall coursework
• 22 on the ACT (minimum of
a 20 in each of the subject
areas) or 1020 on
the SAT (490 verbal, 480
Math)
• FAFSA filed by March 1st
• Completed Promise
Application by March 1
• WV Residency
West Virginia Higher Education Policy Commission
Core Requirements
•
•
•
•
English – 4 credits
Mathematics – 4 credits
Social Sciences – 3 credits
Natural Sciences – 3
credits
The core grade point
average includes all core
classes
2
PROMISE Scholarship
Eligibility Criteria
ACT Score
ACT Subscore
GPA
2002-03
21
N/A
3.00
2003-04
21
N/A
3.00
2004-05
21
19
3.00
2005-06
21
20
3.00
2006-07
21
20
3.00
2007-08
22
20
3.00
2008-09
22
20
3.00
2009-10
22
20
3.00
2010-11
22
20
3.00
2011-12
22
20
3.00
2012-13
22
20
3.00
West Virginia Higher Education Policy Commission
PROMISE Scholarship
• Tuition and mandatory fees at any West Virginia
public college up to $4,750
• Scholarships can be used at in-state public and
private non-profit regionally accredited colleges
• PROMISE is renewable (for up to 8 semesters) as long
as the student maintains a 3.0 in college and
completes 30 credit hours in a 12 month period.
West Virginia Higher Education Policy Commission
4
2012 Eligibility Criteria and Deadlines
For the PROMISE Scholarship
• The last date a student can take the ACT to obtain a
qualifying score is June 9, 2012
• The final SAT test a student may take in order to
receive a qualifying score is June 2, 2012
• Complete the Promise Application by March 1, 2012
at www.cfwv.com
• Submit the FAFSA by March 1, 2012
• WV Residency
West Virginia Higher Education Policy Commission
5
PROMISE Scholarship
• Can attend out-of-state for up to 1 year and
come back and regain PROMISE if meets
eligibility requirements.
• Cannot be used outside WV.
• Community service is highly encouraged.
• College courses taken in high school do not
count toward renewal; but all credits earned
starting with the Fall Semester after high
school graduation do count.
West Virginia Higher Education Policy Commission
PROMISE Scholarship
Total PROMISE Recipients, Awards, and Average Award
2005-06
2006-07
2007-08
2008-09
2009-10
Recipients
10,303
9,823
9,526
9,334
9,456
Awards
$38,258,487
$39,547,724
$40,264,423
$42,498,633
$45,706,663
Average
Award
$3,713
$4,026
$4,227
$4,553
$4,834
West Virginia Higher Education Policy Commission
PROMISE Scholarship
Qualification and Yield Rate of High School Seniors
High
School
Seniors
Qualified for PROMISE
Accepted Award and
Enrolled
Number
Percent
Number
Percent
2005-06
17,963
3,317
17.7%
3,002
86.8%
2006-07
18,454
3,522
19.1%
2,867
86.4%
2007-08
18,553
3,435
18.5%
3,082
87.5%
2008-09
18,855
3,496
18.5%
3,030
88.2%
2009-10
18,596
3,681
19.8%
3,084
88.2%
West Virginia Higher Education Policy Commission
PROMISE Scholarship
PROMISE Scholars Retaining Scholarship
First-Year
Cohort
Received
Award 2nd Fall
Received
Award 3rd Fall
Received
Award 4th Fall
2004-05
3,528
79.6%
63.4%
54.3%
2005-06
2,929
78.5%
65.1%
56.5%
2006-07
2,867
78.3%
64.8%
56.7%
2007-08
3,009
79.3%
64.9%
55.2%
2008-09
2,968
80.9%
65.9%
NA
2009-10
3,034
80.8%
NA
NA
West Virginia Higher Education Policy Commission
PROMISE Scholarship
PROMISE Scholars Graduation Rate
Initial Cohort
Within Four
Years
Within Five
Years
Within Six Years
All
Students
PROMISE
Recipients
All
Students
PROMISE
Recipients
All
Students
PROMISE
Recipients
All
Students
PROMISE
Recipients
2003
9,895
3,069
23.6%
40.7%
42.2%
61.5%
48.3%
67.7%
2004
9,573
2,864
24.8%
40.8%
43.1%
63.4%
49.0%
69.7%
2005
9,643
2,438
25.0%
44.3%
42.9%
64.8%
48.4%
70.2%
2006
9,800
2,326
25.1%
44.5%
40.9%
64.0%
NA
NA
2007
9,925
2,380
22.4%
41.0%
NA
NA
NA
NA
West Virginia Higher Education Policy Commission
Graduation Rates
HEGP vs PROMISE Graduation Rate at 4-year Institutions
Initial Cohort
Within Four
Years
Within Five
Years
Within Six
Years
HEGP
Students
PROMISE
Students
HEGP
PROMISE
HEGP
PROMISE
HEGP
PROMISE
2003
1,570
3,069
20.7%
40.7%
37.9%
61.5%
46.1%
67.7%
2004
1,419
2,864
21.5%
40.8%
40.3%
63.4%
47.4%
69.7%
2005
1,182
2,438
23.7%
44.3%
44.2%
64.8%
51.1%
70.2%
2006
1,281
2,326
16.8%
44.5%
34.7%
64.0%
NA
NA
2007
1,408
2,380
18.3%
41.0%
NA
NA
NA
NA
West Virginia Higher Education Policy Commission
Graduation Rates
HEGP vs PROMISE Graduation Rate at 2-year Institutions
Initial Cohort
Within Two
Years
Within Three
Years
Within Four
Years
HEGP
Students
PROMISE
Students
HEGP
PROMISE
HEGP
PROMISE
HEGP
PROMISE
2004
387
291
7.0%
21.0%
11.4%
33.7%
15.3%
40.2%
2005
363
216
9.6%
19.4%
12.6%
30.6%
17.4%
40.7%
2006
416
205
7.2%
23.4%
11.5%
35.1%
16.4%
42.0%
2007
515
232
6.6%
14.7%
9.9%
30.2%
14.6%
40.9%
2008
818
201
6.5%
24.9%
11.3%
35.8%
NA
NA
West Virginia Higher Education Policy Commission
PROMISE Scholarship
Factors Shown to Increase PROMISE Loss
at 4-Year Public Institutions
• Lower ACT and HS GPA
• Low SES
• Attending institution with more racial minority and
Pell students, lower tuition
• Transferring institutions
• Larger loan amounts
• Higher net cost (from 2nd year on)
West Virginia Higher Education Policy Commission
Contact Information
•HEPC website: http://wvhepcnew.wvnet.edu
•Rob Anderson, [email protected]
West Virginia Higher Education Policy Commission

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