| Overall Rating | Gold - expired |
|---|---|
| Overall Score | 66.56 |
| Liaison | David Blodgett |
| Submission Date | March 13, 2015 |
| Executive Letter | Download |
Babson College
PA-8: Affordability and Access
| Status | Score | Responsible Party |
|---|---|---|
|
3.60 / 4.00 |
Melissa
Shaak Director, Associate Dean Student Financial Service |
Does the institution have policies and programs in place to make it accessible and affordable to low-income students?:
A brief description of any policies and programs to minimize the cost of attendance for low-income students:
We award $27 million annually in undergraduate grants and scholarships, and with generous financial aid packages we are able to meet over 90% of the aggregate financial need of our undergraduate students. In the past five years we have seen a substantial increase in the number of students from lower income backgrounds, as indicated by the number of Federal Pell Grant recipients in our student body; 11.5% of undergraduate students were Pell recipients in the 2006-07 academic year; by 2010-11 that had risen to 17.8% of undergraduate students. We are pleased that our financial aid packages enable low-income students to enroll and be successful at Babson.
A brief description of any programs to equip the institution’s faculty and staff to better serve students from low-income backgrounds:
One of Babson’s core values is diversity, including socioeconomic diversity, and faculty and staff are actively encouraged to support students from a wide range of backgrounds and life circumstances. This extends throughout our curricular and co-curricular programs, and also to the residence halls through our Resident Assistant staff.
A brief description of any programs to prepare students from low-income backgrounds for higher education:
In Spring 2014 the Office of Academic Services launched FirstGen@Babson targeted to support first generation college students (who are traditionally low-income and students of color). This program provides students with resources and support to ensure their success. (I.e. School supplies, bi-monthly meetings, networking opportunities)
There is a wide array of programs and services available to students at Babson, and our close-knit community helps to prevent students from falling through any cracks. In the First Year Seminar (FYS), groups of approximately 20 students are each paired with a faculty-administrator-peer mentor team, covering a series of topics to help ensure a successful transition to college. In addition, students have access to free tutoring resources for quantitative skills, verbal skills, and written communication skills through the Mathematics Resource Center, Speech Resource Center, and Writing Center. Recently, we have instituted the Sparks Tutoring Program, where students in selected courses also can receive free tutoring.
Several scholarship programs, ranging from the Posse Program to the Global Scholars program, include mentoring components to provide support for students and to ensure success.
A brief description of the institution's scholarships for low-income students:
Blank Scholarship
Value: $7,000/year for 4 years
Criteria: Awarded to incoming students on the basis of entrepreneurial potential, academic achievement, and financial need
Apply: In addition to applying for financial aid, submit a separate 500-word essay with your admission application about your entrepreneurial experiences and dreams, entitled “Blank Scholarship Essay”
Canadian Scholarship
Value: Varies according to need
Criteria: Need based, Canadian citizens
Apply: Awards based on financial aid application (CSS PROFILE only)
Class of ’49 Scholarship
Value: Up to $3,000 per year for sophomore, junior and senior years
Criteria: Awarded to selected top GPA earners at the end of the first year who have financial need and who have demonstrated a high degree of involvement in co-curricular activities. Note: students who received merit scholarships at the point of admission are excluded from consideration for this scholarship.
Apply: No separate application is required
Enrico Dallas Scholarship
Value: Full tuition for 4 years
Criteria: Need based for Dallas residents
Apply: Awards based on financial aid application
Fund for Babson Scholarship
Value: $5,000 – $12,500/year for 4 years
Criteria: Need based with consideration for students’ accomplishments and characteristics
Notes: These scholarships are sponsored by generous alumni, foundations, corporations, and friends of Babson College
Apply: Awards based on financial aid application
Global Scholarship
Value: Full tuition for 4 years
Criteria: Need based to selected international students
Apply: Awards based on financial aid application (CSS PROFILE only)
Michael J. Conlon Award
Value: $5,000, one time
Criteria: Need based for a junior at Babson with strong academics and leadership on campus
Apply: Submit application and essay to Student Financial Services in mid-September of your junior year
NFTE Scholarship
Value: Full tuition for 4 years
Criteria: Need based for students that have participated in the Network for Teaching Entrepreneurship
Apply: In addition to applying for financial aid, submit a 500 word essay with your admission application about your experience in the NFTE program, entitled “NFTE Scholarship Essay”
Sorenson Arts Scholarship
Value: $5,000/year for 4 years
Criteria: Awarded to incoming students on the basis of artistic ability, the strength of the student's ideas about combining artistic pursuits with a business degree, academic achievement, and financial need
Apply: In addition to applying for financial aid, submit a separate 500-word essay with your admission application about your interest in combining your artistic pursuits and a management education, entitled “Sorenson Scholarship Essay." You may support your essay by also submitting a sample or representation of your artistry.
Wellesley and Needham Town Scholarships
Value: Varies based on need
Criteria: For students who are residents of Wellesley or Needham, Massachusetts
Apply: In addition to applying for financial aid, an additional application to the respective town’s Board of Selectmen is required. For the Needham Town Scholarship, complete the application found on the town website, here. For the Wellesley Town Scholarship, list the Wellesley Scholarship Foundation when filing the CSS Profile form.
A brief description of any programs to guide parents of low-income students through the higher education experience:
The counselors in Student Financial Services have extensive contact with parents, including by phone, email, and in person. We take great care to do individual outreach to students/parents who might need extra assistance completing the financial aid application requirements. More generally, the college hosts parent orientation and other programs, a parent e-newsletter, and various communications from the President’s Office to parents.
A brief description of any targeted outreach to recruit students from low-income backgrounds:
Beginning in Spring 2014, the Office of Academic Services worked closely with the Admissions Office to offer panel conversations with first generation current students for prospective students. During Babson 168 and other recruitment events we discussed navigating college as a low-income student who’s the first in your family.
A brief description of other admissions policies or programs to make the institution accessible and affordable to low-income students:
Preference in hiring for on campus jobs is given to students who applied for financial aid and qualified for Federal Work-Study.
A brief description of other financial aid policies or programs to make the institution accessible and affordable to low-income students:
A brief description of other policies and programs to make the institution accessible and affordable to low-income students not covered above:
During orientation , the Office of Academic Services hosts a session for FG college students and FG college students’ parents (separate sessions) to discuss the transition to college and college life.
Many FG college students come from collectivist communities (as opposed to individualistic). Starting in Spring 2014 and again this semester, the Office of Academic Services offers a cohort model academic success program for students who have under a 2.3 GPA. This approach models the Posse model in the format, but focuses on academics for students struggling.
Does the institution have policies and programs in place to support non-traditional students?:
A brief description of any scholarships provided specifically for part-time students:
A brief description of any onsite child care facilities, partnerships with local facilities, and/or subsidies or financial support to help meet the child care needs of students:
A brief description of other policies and programs to support non-traditional students:
The Babson Partners Program is made up of students and their spouses/partners and children who have joined them for their MBA experience. The Partners Club exists to help students, their spouses and their families get settled into your new home, meet new friends, and enjoy their time as part of the Babson Community.
Elizabeth Little Bodman Scholarship
Value: Varies according to need
Criteria: Need based for women attending Babson mid-career
Apply: Award based on financial aid application
George I. Alden Scholarship
Value: Varies according to need
Criteria: Need based for students who transfer from a Massachusetts Community College
Apply: Awards based on financial aid application
Does the institution wish to pursue Part 2 of this credit (accessibility and affordability indicators)?:
Indicators that the institution is accessible and affordable to low-income students::
| Percentage (0-100) | |
| The percentage of entering students that are low-income | 17 |
| The graduation/success rate for low-income students | 88 |
| The percentage of student financial need met, on average | 98 |
| The percentage of students graduating with no interest-bearing student loan debt | 57 |
The percentage of students that participate in or directly benefit from the institution’s policies and programs to support low-income and non-traditional students:
The website URL where information about the institution's affordability and access programs is available:
Data source(s) and notes about the submission:
The information presented here is self-reported. While AASHE staff review portions of all STARS reports and institutions are welcome to seek additional forms of review, the data in STARS reports are not verified by AASHE. If you believe any of this information is erroneous or inconsistent with credit criteria, please review the process for inquiring about the information reported by an institution or simply email your inquiry to stars@aashe.org.