We are excited to kick-off a new series where we take a deep dive into the importance of high-quality on campus supports! This series will shine a light on supports associated with college financing, academics, disability, and counseling services. In this installment, we are highlighting what strong financial supports look like at right fit colleges, and why those services are so critical for SEED graduates—and low-income, first-generation students nationally.
Right fit college matching is a cornerstone of SEED’s college success programming. Using years of feedback from our one-on-one work with SEED graduates combined with extensive data collection, we have learned definitively that low-income, first-generation students have the highest degree attainment rates when they attend colleges with a proven track record of high graduation rates for underrepresented students, generous financial aid packages, and high quality on-campus student supports.
Navigating College Affordability – SEED is Making it Possible
According to the Lumina Foundation, total college expenses including tuition, fees, and living expenses have increased 160% since 1980. Financial aid awards are not keeping pace with rising costs, leaving college students to figure out how to fill the widening gap. Considering these trends, it’s no surprise that financial difficulty is the number one reason college students leave school before earning a degree.
Despite these challenges, it is possible to pay for college without incurring significant debt when students have the right information, a great deal of persistence, and targeted support. That’s why SEED’s high school students and their families start learning about financing college early, and their college advisors help them navigate the process. Once enrolled in college, SEED graduates have to keep on top of their finances in order to persist through college completion. They build self-advocacy skills and maneuver on-campus financial resources with the support of their SEED advisors. “SEED advisors work in partnership with our graduates and families to help them better understand and move through the financial aid process. We also counsel them on the right questions to ask once enrolled in college,” says Quinton Lampkin, The SEED Foundation’s director of College Transition & Success.
SEED Identifies and Partners with Right Fit Institutions
SEED identifies partners at right fit colleges and universities who go the extra mile to help students finance their education. The teams working in the financial aid offices at these institutions are proactive in their support of SEED graduates. “Institutions we partner with and endorse as right fit go deeper and with intentionality about what they are offering students. They are meeting with students one-on-one and helping students identify additional funding sources to reduce student loan burdens,” explains Mr. Lampkin.
SEED’s right fit college matching criteria identifies specific factors that define strong on-campus financial supports. This includes examining the median amount of debt that students are graduating with when they leave an institution. Financial aid offices that meet these standards provide accessible resources and work with SEED graduates to identify opportunities to lessen their financial burden. For example, many colleges and universities have scholarships available for students of different identity groups or majors. They may include microgrants for unanticipated expenses or funding for study abroad opportunities.
Data continues to show that college degree holders are better positioned for increased earning potential, stable employment, homeownership, and many other positive health and life outcomes. At SEED, we know that the right knowledge, resources, and support network can drastically increase our graduates’ capacity to navigate financial challenges and complete college. On-campus financial aid offices play a critical role in college success, and we are proud to partner with right fit colleges and universities that share our commitment to college completion for every student.