SMWC designates $250,000 to assist students affected by cuts in state grants
Posted on: 08/17
Saint Mary-of-the-Woods College (SMWC) has announced that it will provide $250,000 in institutional aid to assist students affected by recent cuts in state grants.
The College’s announcement is in response to the July 17 decision by the State Student Assistance Commission of Indiana (SSACI) to reduce the maximum SSACI grant by 31 percent, creating a shortfall in students’ financial aid for the 2009-2010 year.
“Families are already feeling stretched due to the current economic conditions, so when we learned of SSACI’s decision, the President’s Cabinet immediately began discussing ways to help shoulder the burden,” said SMWC President David G. Behrs, Ph.D. “We want every student to have the chance to complete their college education, so we are committed to finding additional institutional funds, and we will work with each student and family to help them through this."
The College estimates that 150 students in the campus-based program and 250 students in the Woods External Degree (WED) program are affected by the cuts in SSACI grants.
Gordon Afdahl, Vice President for Finance and Administration, said that he expects the cut in grants will mean an average shortfall of approximately $1,500 per student, and the College will be looking at all options to help students and families make up the difference.
“Due to its size, SMWC is able to work with individual students and their families on a case-by-case basis,” Afdahl said. “This will mean looking at several options to help them meet the expected shortfall. Options include work-study opportunities, alternative loans and limited institutional grants.”
Afdahl indicated that the $250,000 in institutional aid will come from special gifts and cost-cutting measures. SMWC will use these funds to help cover the shortfall in SSACI grants for all new and returning students, including students who have not yet applied for admission.
SMWC students affected by the shortfall will receive email and mail notifications that will indicate their shortfall and explain the College’s process to help them make up the difference. Students will then receive an updated financial award letter and an updated billing statement.
