About the Episode
About the Episode: Financial aid is something that’s been on the mind of many higher education and enrollment management leaders this past year, particularly with the botched roll-out of the new FAFSA; the Free Application for Federal Student Aid. In this episode I’m joined by Dan Currell, who served as Deputy Under Secretary and Senior Advisor in the U.S. Department of Education from 2018 to 2021 and now, among other things, serves on the board of Adro, a company providing U.S. banking solutions for international students coming to America. He will help us demystify the world of Federal financial aid policy and the future student aid.
Key Takeaways
- The FAFSA rollout has encountered significant issues, but the application remains free.
- A trust gap exists between federal student aid entities and higher education institutions, leading to frustration on both sides.
- Future financial aid policies will depend heavily on the outcome of the upcoming U.S. elections.
- International students face hurdles in securing financial aid, but Adro offers a streamlined banking solution.
- The ongoing regulatory landscape, including changes in Title IX and loan repayment programs, continues to challenge higher education leaders.
Episode Summary
What’s next for financial aid policy in the United States?
Dan begins by explaining the current challenges with the FAFSA rollout, emphasizing that while the application remains free, its functionality has been seriously questioned. He shares how rebuilding trust between federal student aid offices and higher education institutions is crucial moving forward, as frustration grows due to policy complexity and implementation challenges. The upcoming elections are also expected to shape the future of financial aid policies, with potential shifts depending on the administration.
How does financial aid policy impact both undergraduate and graduate students?
The episode highlights the nuanced differences in how financial aid policies affect undergraduates versus graduate students. Dan discusses how the federal SAVE program, designed to alleviate loan repayment burdens, might benefit graduate students more than undergraduates due to fewer restrictions on borrowing amounts. The conversation also touches on how the regulatory landscape—particularly Title IX and loan forgiveness policies—affects institutions differently, depending on legal interpretations and future political leadership.
What regulatory changes should higher education leaders expect?
Dan explains how the regulatory landscape is evolving and what higher ed leaders need to consider. Title IX, loan forgiveness programs, and the intricacies of administrative law create a complicated environment for university leaders to navigate. He advises institutions to follow legal guidance closely, especially regarding Title IX changes and financial aid program uncertainties.
What is Adro and how does it support international students financially?
In the latter part of the episode, Dan introduces Adro, a fintech company focused on providing U.S. banking solutions for international students. He explains how regulatory challenges, such as anti-money laundering laws, make it difficult for international students to open bank accounts in the U.S. Adro simplifies the process by allowing students to set up accounts before arriving in the country, streamlining financial transactions and easing the burden of international student life.
Dan concludes by emphasizing the importance of international students in the U.S. education system, both for their economic impact and as a potential solution to the looming "enrollment cliff." He hints that institutions should consider how they can attract and support more international students in the future.
Connect With Our Host:
About The Enrollify Podcast Network: Mastering the Next is a part of the Enrollify Podcast Network. If you like this podcast, chances are you’ll like other Enrollify shows too!
Some of our favorites include The EduData Podcast and Generation AI.
Enrollify is produced by Element451 — the next-generation AI student engagement platform helping institutions create meaningful and personalized interactions with students. Learn more at element451.com.
Element451 is hosting the AI Engage Summit on Oct 29 and 30. Register now for this free, virtual event.The future of higher ed is being redefined by the transformative power of AI. The AI Engage Summit brings together higher ed leaders, innovators, and many of your favorite Enrollify creators to explore AI’s impact on student engagement, enrollment marketing, and institutional success.
Experience firsthand how AI is improving content personalization at scale, impacting strategic decision-making, and intuitively automating the mundane tasks that consume our time. The schedule is packed with real examples and case studies, so you leave knowing how to harness AI to drive meaningful change at your institution.
Whether you’re looking to enhance student outcomes, optimize enrollment marketing, or simply stay ahead of the curve, the AI Engage Summit is your gateway to the next level of higher education innovation. Registration is free, save your spot today.
.svg)
.svg)
