Wofford College In The News - Private schools see uptick in aid requests

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Private schools see uptick in aid requests

Spartanburg Herald-Journal
Published: Wednesday, June 24, 2009

Paralleling a statewide trend, local colleges are reporting a significant increase in financial aid applications for the 2009-10 academic year.

"We've been very busy since probably April," said Kendra Burnette, director of financial aid at Spartanburg Methodist College. "We've really picked up with the level of phone calls and e-mails and inquiries from parents earlier this year than last."

The number of financial-assistance packages prepared by SMC has increased 50 percent over this time last year, Burnette said.

Other local schools report similar findings.

Financial-aid applications are up 35 percent at Wofford, 16 percent at the University of South Carolina Upstate and 20 percent for freshmen at Converse College.

All agree the recession is at the root of the increase.

"I think it's the economy," said Kay Walton, Wofford's director of financial aid. "A lot of folks have taken big hits on their 529 (college savings plan) and their retirement funds, and they're just looking for other resources. The bottom line is we're trying to help as many people as we can."

"And not only the increase in applications," said Kim Jenerette, director of financial aid at USC Upstate. "We're getting a lot of families where the parents have been laid off, so we're getting a lot of inquiries on that type of situation, and we work with them to see if there is anything we can do with additional sources of funds."

A big factor in the amount of early applications at SMC, Burnette said, is that parents are more aware of deadlines, such as the June 30 date set for applying to the South Carolina Tuition Grants Program, which provides need-based assistance to full-time undergraduates at private schools like SMC. Burnette said her department has increased its reminder notification mailings this year, and families are responding quickly.

"There's a little bit of anxiousness on the part of the parents," she said. "They want to know earlier how much they're to be expected to come out of pocket with. They're leaning more on those state and federal programs this year to help bridge the gap."