$100 Million Growth in Financial Aid

Over the last seven years, NOVA Financial Aid has undertaken a strategic initiative to enhance financial aid services.  The primary goals were to expand access to financial aid services, reduce processing times, and improve customer service.  So how have we done?

The amount of financial aid awarded has essentially quadrupled since a process-improvement initiative began in 2009.  Students received approximately $100 million more in grants, scholarships, loans, and work-study awards in 2014-2015 compared to 2007-2008.  The number of financial aid recipients also increased during this period from 8,777 students (13.6% of the student population) in 2007-2008 to 23,379 students (30.4% of the student population) in 2014-2015.

Customer service surveys are also now sent to all students who visit a Campus Financial Aid Office or contact the Financial Aid and Student Accounts Support Center.  Survey data from 2015 shows that approximately 92% of students have a positive perception of the services they received with 63% of survey respondents indicating they received “Excellent Overall Service”.  Processing times have also been reduced significantly with the college’s partnership with Financial Aid Services, the entity that provides web-based verification support for financial aid applicants selected to verify the information reported on the Free Application for Federal Student Aid (FAFSA).

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