With funding from the Bill & Melinda Gates Foundation, Noel-Levitz conducted a study for the Louisiana Board or Regents to determine how Louisiana could most effectively utilize limited state financial aid dollars to improve retention levels and degree completion. Relying on data from the state student-level database, the study found that the most positive impact of increased aid occurs when meeting 55-60% of a student’s need, and declines after that point. By redirecting state aid dollars to students in order to get them to the 55-60% of need-met benchmark, Louisiana could improve retention rates while saving almost $400,000 per year.
Similar studies were recently completed for the Louisiana community colleges and the Oklahoma Board of Regents. Findings from these studies as well as how these findings may lead to more strategic state financial aid allocations in the future will also be discussed during this session.