Minority Serving Institutions Measuring College Value Grant

Minority Serving Institutions Measuring College Value Grant

Overview of Discussion Describe USA Funds Mission, History Introduce the MSI College Value Grant Dream Team Describe College Value Provide an overview of the scope of the MSI College Value Grant Frame the Goals and Objectives of this convening 2

USA Funds Mission, History Mission: To enhance postsecondary education preparedness, access and success. Since 1960: Supported more than $250 billion in financing for college. Helped more than 22 million students and parents pay for college. Worked with thousands of postsecondary institutions. Since 2013: Completion with A Purpose has been our strategic focus. 3

What are People Saying? Just graduated and fumbling through a first job. Why millennials have a tough time landing a job What s an American degree worth? America s Youngest Workers Destined for Failure. To Reach the New Market for Education, Colleges have Some Learning to Do. 4

Key Insight There is a disconnect between higher education and the public/employers on how well college graduates are prepared for the workforce. Question: How many of you would agree that higher education institutions in the U.S. are graduating students with the skills and competencies that employers need? 6

College, Employer Disconnect Making the Case for College Value

What is College Value and Why Focus on It? For the purpose of the MSI Measuring College Value Grant Competition College Value is defined as The return college graduates derive from their ever-rising tuition bills and other higher education expenses. Traditional measures include quantitative metrics such as cost, employment and wages and qualitative measures such as well-being. Colleges are under mounting pressure to improve student outcomes; several states have implemented higher education funding formulas tied to student success. Employers continue to express disappointment in the job-readiness of recent college graduates.

Grant Overview Investment: $2.3 million over a three-year period from USA Funds. Objectives: Plans developed under this grant program must address two objectives. Objective #1: Support the development of tools and practices that will help students stay on track to college completion. Objective #2: Support the development of tools and practices that will help students to more successfully navigate rewarding careers.

Grant Overview Eligibility: Open to MSIs that had institutional representatives present at the USA Funds MSI Innovation Symposium held February 22 and 23, 2016. Invitees who did NOT attend are ineligible to apply. Amount: USA Funds made seven awards of $325,000 each over a three-year period, to be awarded in three phases: Phase 1, Planning: (August 2016 through July 2017) Phase 2, Implementation: (August 2017 through July 2018) Phase 3, Assessment: (August 2018 through July 2019)

Understanding the Three Phases of the Grant The grant, up to $325,000 per institution, will be funded in three phases: Planning Year 1 Implementation Years 2&3 Assessment Year 3 Planning ($50,000) Grantee will work with Data Coach to: Create user-friendly data tools Grantee must develop two or more of the data tools listed as A E on pages 3-4 of the RFP. Applicants are encouraged to choose as many as possible. All grantees must develop item F, Workforce Outcomes Index. Implementation ($275,000) Grantee will work with Data Coach to: Identify practices and processes for using data tools One outcome of Year 2 shall be the measurement of a Return on Investment for Alumni and a survey of well-being of graduates Assessment Grantee will develop a comprehensive set of recommendations and a plan for implementation at the institution in the areas of course redesign, strategic planning, career advising, etc.

Learnings and Outcomes The following elements are required in an effort to learn from this grant program. Innovation Group: All awardees must create an Innovation Group, including the Chief Academic Officer, Institutional Research Designee, One External Partner, and a Faculty Representative. Data and Implementation Coach: All awardees must work with the data and implementation coach during the three-year term of the grant. External Evaluator: An external evaluator will be hired by USA Funds to examine the extent to which grant-initiated activities achieved project goals and document MSIs progress.

Objectives for the Convening 1. To orient each Innovation Group member to the purpose, objectives, goals, and schedule of activities for the MSI Measuring College Value Grant 2. To orient each Innovation Group member on the scope and role of the Data Coach, Implementation Coach, and Evaluator for the grant 3. To orient each Innovation Group member on how to begin developing/revising the action plan for Year 1 of the grant 4. Provide technical examples of how to engage faculty and the business community in the development of the action plan for Year 1 of the grant

A nonprofit corporation, USA Funds works to enhance postsecondary education preparedness, access and success by providing and supporting financial and other valued services.