tyler keys HOD 2700 final project

1. HOD 2700 Policy Proposal
Tyler Keys

2. Vanderbilt Financial Aid
- Vanderbilt has a well-known financial aid package, in which they meet 100% of
demonstrated financial need, without loans offered
- They are need-blind in admissions, and do not have income brackets in place,
allowing students of all SES to be eligible for aid.
- However, extracurricular activities, vital to the Vanderbilt Experience, have a
barrier to entry because of high costs
$49,242Average financial aid package

3. Where are extracurriculars
considered?

4. Experience Vanderbilt
62.0% EV recipients that have not
participated in an extracurricular due to
costs
73.1% EV recipients that agree or
strongly agree that the $500 cap should
be expanded
98.5% EV recipients that believe EV
positively impacts Vanderbilt’s campus
Privately Funded/Donation Based
Lottery System → Not Guaranteed
$500 maximum for 1 experience
A student-led initiative that provides
extracurricular scholarships for students
who qualify for need based financial aid

5. Vanderbilt should use a
portion of each
student’s tuition to
cover extracurricular
fees.
- 2% of tuition should be
designated for a students
extracurriculars
- Acts as a student’s investment in
their involvement on campus
- Marketplace implementation plan
makes for smooth transition

6. Evidence & Long-Term Impact
- Lessens students’ financial burden on campus
- Better quality of life
- May make students more involved in campus life
- May maintain or even improve retention rates
- As a residential college, it makes sense to invest in full Vanderbilt Experience
- Encourages inclusivity
- People from all backgrounds get funding
- Recruits students from diverse SES
- Makes Vanderbilt more competitive with peer schools
- May improve rankings and prestige

7. Key Takeaways From Meeting
- Oversees Provost Central finances
and supports personnel for all of the
Vice Provost areas
- “Where will the money come from?”
- Tuition dollars go toward each school
and maintaining the buildings
- Deans would need to let go of some
of their (already tight) budgets
- Another route may be more feasible

8. Next Steps
- New Goal: Get Experience Vanderbilt more funding
- Can fund more students for more extracurriculars
- Plan to work with Clayton Arrington to present EV funding push to key decision
makers
- Try to get EV funded further through the Board of Trust or other areas of campus

9. What I Learned About the Policy Process
- Hard to find right person that has all of the information
- The logistics of policy are harder to figure out, even if underlying need is
promising
- Money is important!

10. Appendix
Original Presentation

11. Financial Aid: Extracurriculars
Tyler Keys

12. Vanderbilt Financial Aid
- Vanderbilt has a well-known financial aid package, in which they meet 100% of
demonstrated financial need, without loans offered
- They are need-blind in admissions, and do not have income brackets in place,
allowing students of all SES to be eligible for aid.
- However, extracurricular activities, vital to the Vanderbilt Experience, have a
barrier to entry because of high costs

13. #7 Best Value- US News #2 Great Financial Aid- Princeton Review
#6 Best Financial Aid- Princeton Review #4 Best Value Among Private Universities- Kiplinger
$49,242Average financial aid package

14. But where are
extracurriculars
considered?

15. Experience
Vanderbilt
Privately Funded/Donation Based
Lottery System → Not Guaranteed
$500 maximum for 1 experience

16. “EV is an incredible org that only takes a small step in
making Vanderbilt less financially exclusive. Changing
EV so that it can give out grants bigger than $500
would be amazing...expanding it to more students can
only help, as there currently is an incredibly high
amount of exclusivity at Vanderbilt.”
- Anonymous student quote

17. 73.1%EV recipients that agree or strongly agree that the $500 cap should be
expanded
98.5%
EV recipients that believe EV positively impacts Vanderbilt’s campus
62.0%EV recipients that have not participated in an extracurricular due to costs

18. Vanderbilt should use a
portion of each student’s
tuition to cover
extracurricular fees.

19. Implementation
- 2% of tuition should be designated for a students extracurriculars
- Acts as a student’s investment in their involvement on campus
- Marketplace implementation plan makes for smooth transition

20. Evidence & Long-Term Impact
- Lessens students’ financial burden on campus
- Better quality of life
- May make students more involved in campus life
- May maintain or even improve retention rates
- As a residential college, it makes sense to invest in full Vanderbilt Experience
- Encourages inclusivity
- People from all backgrounds get funding
- Recruits students from diverse SES
- Makes Vanderbilt more competitive with peer schools
- May improve rankings and prestige