student financial support project ams presentation january 23, 2013
TRANSCRIPT
Student Financial Support Project
AMS Presentation
January 23, 2013
Student Financial Support Project
Agenda
• High level project overview: goals, objectives, scope• Stakeholders• Benefits: students, administration• Project Timelines• What’s the bottom line• Next steps• Questions
Student Financial Support Project
Goal: Ensure outstanding students who are financially challenged can attend UBC by:
• Simplifying processes• Offering awards earlier• Offering comprehensive financial package• Recognizing cost of living in Vancouver and Kelowna• Recognizing funding is a shared responsibility between parents and students
Consolidated Financial Package for New Students
ConsolidatedAdmissionApplication
Personal Profile BBA MES/Other Awards
Financial Profile Decision making process
Entrance Awards
Student Financial Support Package
Bursary
Consolidated Financial Package for All Continuing Students
Undergraduate and graduate students apply directly on the SISC
Continuing studentsDecision making tools/adjudication15W
Applies in May on SISC using financial profile
Bursary adjudicated
University and External Awards/Scholarships and Bursaries
• Undergraduate and graduate
• Domestic and international
• Both campuses
• School/Faculty based awards will have access to new tool
Loans
• Canada Student Loans & US Student Loans
• UBC Loans
Student Financial Support ProjectProject Scope
Student Financial Support ProjectTimeline
• Feasibility study completed December 2012• Budget approved December 2012• Request for Proposals (RFP) January 15 2013• Vendor demos on campus February 26,27,28, 2013• Vendor selection March 2013• Vendor team on campus to begin design May 2013• Project completion March 2015
Student Financial Support ProjectStakeholders
• AMS• GSS• Enrolment Services• VP, Students• Science • Arts• LFS• Kinesiology• Sauder• Forestry• ApSc• ISI• Development• FoGs (UBCV)• College of Graduate Studies (UBCO)• Athletics• UBCO
1. Comprehensive financial package: earlier, complete, budgeting tools
2. Transparency in the process = better understanding for students
3. Ensure need based funding goes to the students with greatest need: access to funding, UBC experience (Place and Promise)
4. Introduce yearly cost of living review
Student Financial Support ProjectKey Benefits for Students
Student Financial Support ProjectBenefits for Administration
1. Streamlined operation2. Mitigated financial risk3. Balanced budget4. Transparent process5. Enhanced student experience: Place and Promise
Student Financial Support ProjectWhat's the bottom line?
1. Can every student apply for financial support whether or not they have a student loan? YES
2. Will every student who applies receive funding? NO
Awards will be based on need determined by responses on Financial Profile and verification of documentation
Student Financial Support ProjectWhat's the bottom line?
3. What happens to students currently receiving funding?
Awards will be based on need determined by responses on Financial Profile and verification of documentation
4. What if I have significant financial issues partway through the year?
There will always be funding to assist those students whose circumstances change!
