Scaling Support for Financially Insecure Students
Ease the burden of help-seeking on students through centralized resources
Student affairs leaders know scaling services to support more students and in new ways needs to be a campus priority. With the rising cost of college, more and more students suffer from basic needs or other forms of financial insecurity. These individuals include students from middle-income backgrounds, international students, and students with extenuating circumstances who might not look like they’re struggling on paper.
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$9,314
average unmet need for students at four-year institutions regardless of income level
In this study, learn how student affairs leaders can expand services for students facing financial hardship by auditing existing financial security services, getting the word out about programming through marketing and awareness campaigns, easing the burden of help-seeking on students, and building sustainable funding streams for programming.
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Section One
Audit existing financial security services to identify duplicative offerings and service gaps
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Section Two
Build awareness of existing programming and ease the burden of help-seeking on students
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Section Three
Explore alternative funding streams institutions can tap to ensure sustainable programming
Understand your evolving campus context
Universities often struggle to coordinate their efforts to support financially insecure students. Different offices, from the financial aid office and dining services to student clubs and academic departments create programs to address financial insecurity. These duplicative services consume valuable time and resources, while siloed supports create confusion about where students should seek help. Conducting an audit will allow your institution to evaluate and rightsize current offerings.
"We reached out to partners to conduct an audit [of affordability initiatives] because we know solving a university-wide problem requires a university-wide perspective.
"Owen Moore, Assistant Vice President
New York University
Reduce barriers to access
Many factors may prevent financially insecure students from finding and accessing needed support: lack of knowledge of resources, stigma, eligibility concerns, tyranny of the immediate, and more. Institutions can better serve financially insecure students by deliberately building awareness of resources, rather than relying on word-of-mouth education, and by making it easier for students to connect with services.
North Carolina State University’s (NC State) “You Don’t Have to Choose” marketing campaign expands awareness of Pack Essentials, NC State’s suite of basic needs support resources. The campaign illustrates potential financial dilemmas students face, like being forced to choose between medical bills and a meal plan. By emphasizing that students don’t need to choose between their basic needs and other necessary expenses (like medical bills or car repairs), NC State empowers students to reach out for support when they need it. The web link to access support is featured prominently on the posters.
Leverage alternative funding sources to scale services
Colleges and universities traditionally rely on two sources of funding for programming that addresses financial insecurity: narrowly defined federal and state programs and one-off donations. Instead of relying on traditional funding streams, institutions must turn to new funding pathways to sustain their programs. Campuses should look to student partners, such as the student government to finance popular financial insecurity programs. Institutions can also work with vendor and corporate partners to identify ways they can provide sustainable funding for programs in contract negotiations.
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of donors say knowing their donation’s impact makes them more likely to give
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