Inceptia continues to examine student financial behaviors with the newly released “State of Student Finances 2021: Multiyear Comparisons and Pandemic Effects.”

Expanding on our original research from 2018, this new data is based on over 65,000 student surveys from across the country over an almost three-year period. Not only does this snapshot allow for a year-over-year comparison, but the data also reveals the real-time effects of the pandemic on behavioral shifts:

• A 10% increase in those with fully-funded emergency savings
• A 12% jump in obtaining credit reports
• A six percent increase in calculating retirement needs

For more findings and recommendations on how to interpret the research, click here for the research brief. You may also watch our webinar recording.

Students are responding to the pandemic’s financial uncertainty by seeking out information – meet their needs with Financial Avenue, Inceptia’s online financial education program. With courses like Foundations of Money, Credit and Protecting Your Money, and Spending and Borrowing (and more!), we are a one-stop resource for student financial empowerment. Request more information here.

NEFE recently announced that their financial literacy program, CashCourse, will be retired at the end of the current academic year. For the colleges and universities relying on this program to fulfill their financial education goals, Inceptia invites you to explore our program, Financial Avenue, as your new financial education curriculum.

Learn more about Financial Avenue:

• Review our Learning Objectives
• Request a demo account
• Register for our virtual demo on Tuesday, June 8 @ 12:00 p.m. CT
• Hear what students and staff at the University of at Nebraska Kearney enjoy most about using Financial Avenue

Special pricing will be available to those who purchase Financial Avenue by July 31, so please contact us today to make the switch. We look forward to working with you in finding a new solution to meet your financial education needs.

We know summer melt is a reality – that time between high school graduation and the fall semester, or the spring and fall semesters when students who have otherwise completed most major hurdles to get or return to college mysteriously fall off the radar. It could be just one incomplete task that throws a student off course.

According to NCAN research, the first roadblock is that many of these students may not even know that the FAFSA is an option, usually because they:

• Are first-gen college-goers and/or may go to a school that lacks resources to provide this information.
• Have the misconception they are not eligible for aid because of their credit.
• Think aid only consists of loans and they are averse to taking on debt.
• Think the FAFSA is too complicated.

What it really comes down to for most of the 45% of non-filers is that they are lacking FAFSA education. For the 2021 high school class, FAFSA completion is still down 8.2% from last year.

Promoting the benefits of early FAFSA completion is a purposeful connection to make with your students so they know it’s an option. Completion then leads to awarding financial aid, answering more in-depth questions, allowing time for school decisions and planning, and verification if they should be chosen. Learn more about FAFSA Completion Outreach.

Connecting with students during critical decision-making times can be the difference between if, when, and how they take their next steps in their educational career. Proactive outreach solutions can help you reduce melt and student anxiety while promoting school connections and enrollment. To give you a head start, we’ve developed targeted outreach plans to help you deliver specific messages to your students and prospective students depending on where they are in their college career.

• New & Returning Students – Communicate reminders of important next steps and deadlines.
• Withdrawn Students – Encourage return, determine intent and gather data.
• Verification Completion – Emphasize the importance of verification completion and answer questions.
• Summer School Attendance – Promote benefits of summer school attendance.
• FAFSA Completion – Nudge for earlier completion, answer questions and provide tools.

Help your students make smart money moves with these free resources.

Though some conferences* have moved to in-person this season, many remain virtual and despite the setting, we want to talk with you! Check out the shows our Business Development Team will be by clicking their name for show dates, details, and resources.

The return on investment in verification services comes in multiple layers from increased customer service to saving money, time and increasing enrollment. Steve McDowell, the Associate Vice President for Financial Aid Services and Title IV Compliance for the Connecticut State Colleges and Universities (CSCU) joined us for a NASFAA FABS webinar and explained how he made the decision to incorporate verification services and the impact it has had on reducing melt, working through staffing challenges, managing expenses and increasing verification completion for CSCU. Listen now.

FAFSA completion signals the intent of students to attend college, and can help you predict enrollment. Even though the rates of completion among the high school class of 2021 have increased in the last few months, recent stats from NCAN’s Form Your Future show FAFSA completions are still down 10.1%, from 2020.

Without the ability to see students face-to-face, pop into a classroom, or post a sign, FAFSA completion suffers unless we adopt new outreach strategies. Replacing gentle reminders with personalized, specific communication promotes completion and provides connection; Inceptia’s FAFSA Completion Outreach program does just that. Through a variety of methods, our student advocates will reach out to students to help them see the value in completing the FAFSA and answer questions along the way.

The longer breaks that students have been experiencing can cause “melt” for prospective, current and withdrawn students. The FAFSA Outreach and Student Outreach Programs can help you connect and even re-engage with students to provide supportive options to encourage FAFSA completion to help you reach your enrollment goals.

Extra communication requires extra tools and tactics. Check out our free FAFSA Toolkit containing checklists, letters and emails, posters, and videos ready for you to share with students and families.

For additional details, contact our Client Support team or your Inceptia Business Development representative today.

Phew! You made it through 2020 and now you’re on to the first semester of 2021. As you look ahead and continue to adjust your processes this year, preparing for the potential increase in professional judgment and SAP appeals is essential – are you ready?

Developed with the student and administrator in mind, Inceptia’s PJ Advisor and SAP Advisor solutions are easy to use with intuitive questions and step-by-step instructions to capture each specific situation. Both solutions fit today’s environment and are available on any device, wherever and whenever, for the student and for your team to review and approve.

To learn more about streamlining your appeal processes visit the PJ Advisor and SAP Advisor pages for further information. You can also contact a Business Development representative in your area to schedule a meeting today!

Many conferences remain virtual this season and despite not seeing you face-to-face, we hope to talk with you!*

FAFSA completion serves two key functions: it signals the intent of students to attend college, and helps schools predict enrollment. It is alarming, then, that at two months into the new FAFSA cycle, completion rates are being noted as a "slow-motion train wreck for college enrollment and students’ futures". Most recent stats from NCAN’s Form Your Future show FAFSA completions are down 15.5% for the high school class of 2021, from the last academic year – a slight improvement within the last month.

Without the ability to see students face-to-face, pop into a classroom, or post a sign, FAFSA completion suffers unless we adopt new outreach strategies. Replacing gentle reminders with personalized, specific communication promotes completion and provides connection; Inceptia’s FAFSA Completion Outreach program does just that. Through a variety of methods, our student advocates will reach out to students to help them see the value in completing the FAFSA and answer questions along the way.

Because students may need multiple reminders to make the message “stick,” we also offer our free FAFSA Toolkit containing checklists, letters and emails, posters, and videos ready for you to share with students and families.

Finally, a longer-than-usual holiday break can cause “melt” for prospective, current and withdrawn students. The FAFSA Outreach and Student Outreach Programs can help you connect and even re-engage with students to provide supportive options to encourage FAFSA completion and also re-enrollment with your institution.

For additional details, contact our Client Support team or your Inceptia Business Development representative today.

With a population of roughly 40,000 students, the Connecticut State Colleges and Universities (CSCU) financial aid team needed a verification platform that could handle a high volume of verifications, was efficient for students and families and provide workload relief for staff.

CSCU implemented Verification Gateway to streamline the federal verification process for their students. The interview-style questions, virtual document collection, complete reporting and personal interaction when needed, offered CSCU the help they wanted.

• Two-day turnaround of verified records
• 50% average decrease in time from first ISIR to verified
• 28% average increase in completed verifications
• 29% average decrease in verifications completed 14 days prior to semester
• 38% average decrease in verifications completed 7 days prior to semester
• 15% average increase in packaging rate by first day of classes

“It was a welcomed relief for Inceptia to take over verifications so our teams could provide both a greater focus on community outreach and training activities for staff,” said Steve McDowell, Associate Vice President for Financial Aid Services and Title IV Compliance. Read more.

NEFE recently announced their financial literacy program, CashCourse, will be retired at the end of the current academic year. For the colleges and universities relying on this program to fulfill their financial education goals, Inceptia invites you to explore our program, Financial Avenue, as your new financial education curriculum.

Learn More About Financial Avenue

• Review our Learning Objectives
• Request a demo account
• Register for our virtual demo on Tuesday, December 8 at 1:00 p.m. CT
• Hear what students and staff at the University of Nebraska Kearney enjoy most about using Financial Avenue

We know that budgets may be limited, so please contact us to discuss pricing. We look forward to working with you in finding a new solution to meet your financial education needs.

The CARES Act student loan repayment suspension is set to expire December 31, 2020, and there are still many questions. Without thoughtful planning, it’s going to be a challenging return for students and schools, but there are ways to ease the stress.

There are still opportunities to connect with your students to re-prepare them for repayment; and to adjust your office strategy for consultation and future goals.

Visit the Return to Repayment Outreach page to gain insights, find a solution and prepare:

• Review articles on the key impacts of CARES Act expiration
• View on-demand webinars on preparing for repayment
• Listen to Q&A sessions with your peers on the CARES Act ramifications

Learn more to get help connecting with your students.

As you've adjusted to the time of student loan suspension, other priorities may have overcome student loan repayment. And, it's likely your students have adjusted their saving and spending habits. New habits and new challenges offer opportunity, if you’re ready. Opportunities to connect with your students and reprepare them for repayment; and to adjust your office strategy for consultation and future goals.

Understanding the ramifications of a mass resume date on student loan repayment can help you understand the impact it may have on your student borrowers and your school. Read more about The Five Key Impacts of CARES Act Expiration.

Register for the Return to Repayment webinar to hear more about the challenges this presents for students and schools along with recommendations on steps to take to ease the strain. We will save time for questions too.

Use these free resources.
Check out the Exit Counseling & Repayment Toolkit to download free resources to understand the impacts of repayment resuming, help promote repayment readiness, and tips for planning.

Get help with student outreach.
We can help with Return to Repayment Outreach. Strategic student outreach to remind borrowers about resuming repayments and determining the best avenue if there are additional challenges that could hinder their progress. It’s one more connection between you and your students that could reduce the number of delinquent and defaulted borrowers, and keep your CDR in check.

Higher education is facing monumental change due to COVID-19. State budgets are being reduced, enrollment is down and schools face the daunting task of layoffs. At many schools, the financial aid office is also being impacted. You’re being challenged to do more with fewer resources and find virtual solutions to service students and your team. Plus, your office also serves as the gateway to enrollment. Being able to award aid in an efficient and timely manner is good for your students and vital to your school.

Verification Gateway can help you process verifications with an intuitive, automated platform to gather information and documentation required to verify students quickly and efficiently. Developed with the student and administrator in mind, Verification Gateway is easy to use, streamlines the entire process, and is available on any device, wherever and whenever it is needed. In fact, current school clients have reported a 20-35% lift in completed verifications and a 23% reduction in verification melt resulting in more students and increased revenue for your institution.

Find out how other schools have improved their results and reduced expenses with Verification Gateway by reading our current case studies or request a customized ROI by contacting your Business Development partner.

The pandemic has affected the finances of many students and their families, making early FAFSA completion more important than ever. Having more time to process professional judgements or verification is a win-win for both students and the financial aid office.

Inceptia has created a free tool to help you promote early FAFSA completion: our FAFSA Toolkit.

Here, you’ll find checklists, letters and emails, posters, videos and more, ready for you to share with students and families. From gathering FAFSA information to completion to understanding verification, we’ve got everything you need to help your students get a jump start on a busy FAFSA season!

New Look
If you have logged into your Administrator Portal lately, you may have noticed a big change! We have redesigned the site with drop-down menus, and a new option that allows you to view all resources available by course. We hope this new design simplifies how you explore and access the many great tools available to you in the Portal.

New Lesson Plan
Our newest lesson plan is ready to use! “The Racial Wealth Divide” explores the systemic policies and practices that have created a long history of wealth inequality for people of color. Use this thought-provoking lesson and the corresponding activities to foster an open dialogue with your students. It is available now in the Educator Toolkit within your Administrator Portal.

What do you think?
Tell us your thoughts so we can continue to provide valuable information and resources for Financial Avenue. Take our quick 5-question survey here.

We know that the pandemic has given students and families much to think about beyond the usual discussions of where to go and how to complete the FAFSA. Through our partnership with NerdWallet, Great Advice for Parents 2020 includes coverage of current COVID-19 considerations.

Send the link directly or use this downloadable flyer to share Great Advice for Parents with the students, families, educators and other organizations with whom you work. We hope this information allows families to keep moving forward in making informed college planning decisions for the 2021-22 school year.

Join us for these upcoming webinars and stay tuned to our resources page for additional sessions that may be added.

We look forward to speaking with you at these virtual conferences. If you are unable to attend, or do not see one in your region, we have a dedicated business development team in your area who will be happy to answer questions.