Financial Aid Packaging and Undergraduate Enrollment at a Women's College

This study examined financial aid and enrollment at a women's college. A historical review of literature coupled with the examination of previous studies provided background information on the topic. Two student groups were used in the analysis, which included individuals who were awarded financial aid and did not enroll, as well as, individuals who were awarded financial aid and did enroll. Only students who initially applied to the College during the 2002-03 and 2004-05 academic years were included in the analysis.Data were analyzed to determine: (1) financial aid and its affect on enrollment (2) ranking of the six college choices on the FAFSA (3) financial aid applicants and income levels (4) relationship between income and scholarship recipients (5) restructuring of financial aid packaging policies. The results found that financial aid does influence enrollment for both student groups. Financial aid was the primary reason for attendance for the students who enrolled, but influenced the other group not to enroll. Students indicated majors and cost as factors that influenced them to enroll at other colleges. Eighty percent of enrolled students listed the College on the FAFSA as their first choice, while 30% of the students who did not enroll had the College listed first. College ranking on the FAFSA provides a good indication as whether the student might enroll. Family incomes of students who did not enroll were greater than $50,001 per year. For the students who did enroll their annual family income was less than $50,000. Income was also compared to scholarship recipients and it was determined the majority of the enrolled students who were awarded a scholarship had family incomes of $50,000, or less per year. The majority of scholarship recipients for the students who did not enroll had family incomes greater than $50,001. It was recommended based on the analysis for the College to increase the two top scholarship awards, because these awards are given to the most academically capable students. The majority of scholarship awards now being offered are at the lowest academic interval, which indicates more of the brightest students need to be encouraged to enroll