AFI Virtual Coffee Webinar Series – Partnering with Post-Secondary Educational Institutions

AFI Virtual Coffee Webinar Series – Partnering with Post-Secondary Educational Institutions

September 12, 2019 0 By Kody Olson


>>Megan: Welcome to the second in our AFI
Series this summer partnering with Post-Secondary Educational Institutions. This is the second of four of our AFI Virtual
Coffee Webinar Series. Thanks so much for joining us today. My name is Megan Bolado. I am one of the program managers from the
Savings and Financial Capability team here at CFED. In this webinar you’re going to be learning
about partnering with post-secondary educational institutions, how to build and maintain those
strong partnerships to support your AFI grant. These webinars are intended to be interactive
and engaging. We really want to provide the platform for
grantees to connect and learn from each other. Throughout this and the future webinars in
this series, you’ll hear from AFI grantees and their partners and have the opportunity
to discuss tips, tools and generate ideas for successfully maintaining your grant. So today, this webinar will be led by myself,
but our guests include Rodolfo Acosta-Perez of the Community Action Agency of Southern
New Mexico, Maggie Sanborn of Earn to Learn, and Brent Wilder of the Oregon Alliance of
Independent Colleges & Universities. You’ll hear from our speakers shortly but
first just a few housekeeping items. You have the choice of dialing in with your
phone or listening to the webinars through your computer. Listen to this webinar through your computer,
just connect your speakers or a headset for best sound quality and set the audio accordingly
at the webinar control panel on the right side of your screen. If you’re watching this live and you experience
any technical difficulties, please use the menu on the right hand side of your screen
to type in a question. On your screen is a snapchat of the interface. Also use this box to enter questions for the
presenters and we will ask them intermittently throughout the presentation and at the end
of the presentation. Please send an email to [email protected] if
you have any technical problems. Please keep in mind that this webinar is being
recorded. We’ve muted all attendees to ensure sound
quality. So if you have any questions or issues, please
type it in to the query box. We will
make a recording and transcript of this presentation available on the IDA resources’ website. The address is on your screen, at a later
date. This webinar will last approximately 90 minutes. We have plenty of time for questions and answers
throughout as I mentioned earlier. Please again feel free to type any questions
or even comments using the box at any time. So just to overview our objectives here, participants
will hear about tips and tools for developing strong partnerships with post-secondary educational
institutions to support your AFI program. You’ll hear from fellow AFI grantees about
their partnership stories and you’ll have the opportunity to ask questions, share ideas
for developing partnership to post-secondary educational institutions. In keeping with that theme, as I’ve mentioned,
please use the box to share thoughts, comments, questions, and more throughout today’s chat. All right, now we have a few questions for
you so everybody get ready to participate. We’re going to have some polls are about
to pop up onto your screen and we’d love to hear what you all have to say. First question, do you currently partner with
post-secondary educational institutions? All right, again this is actually a pretty
interesting mix that we have on this call here. It looks like about 41% of you currently partner
with post-secondary educational institutions and about 33% of you don’t but you’re
hoping to establish partnerships soon. We’ve got four of you who have in the past
but you aren’t currently. And we’ve got 22% of you who are not currently
partnering with post-secondary educational institutions and possibly are not interested
in doing that in the future. So that was great. Thanks so much. All right, so the next poll question that
we’d love for you all to answer are what types of partnerships with post-secondary
educational institutions have been most effective in supporting the delivery of your grant? So go ahead and click the answer that most
applies to you. We’ll give you just a moment to do that. All right, thanks so much for participating
everybody. So it looks like as you can see on our screen,
we’ve got about 10% of you say that you use those educational institutional partnerships
for funding. We’ve got 31% of you say that your partnership
will support recruitment and referrals. Only 3% say that your partner, your post-secondary
educational partner provides financial education. And it looks like almost half of you don’t
currently have partners or you can’t necessarily explain in what way the partnership has been
most effective, hopefully this webinar will help you sort that out. And then 7% of you, there is an other, whatever
that might be. That’s really great feedback. Thanks so much for participating there. We’ve got one more question for you all. All right and in what ways the partnerships
with post-secondary educational institutions help? So, you know, this could be what is currently
you find most helpful or what you think might be helpful in the future as you start to build
this relationships out or adjust the way that you have them setup. So just take a moment and answer that question
current, past, or aspirational. All right, great, thank you so much. So looks like a lot of good answers here. 68% are saying funding, partnering with post-secondary
educational institutions support funding. Almost 80% of you said recruitment. About half of you said strengthening the effectiveness
of your AFI IDA program. And again about half of you said it helps
for improved outcomes for your savers. 40% did say or 39% rather, increased capacity
for administration of your grant or project. As we all know in the phone that administrative
piece of this grant can be sometimes a little constraining. So it’s great to
see that 40% of you have increased capacity for that through these partnerships. All right so thanks so much. It was really great to get kind of a vision
of who’s in the room and who’s participating. I think that’ll be really helpful for our
speakers who are about to start and kind of help them understand kind of who they’re
talking to and what your experience has been in the past. With that, I’d like to turn it over to Rodolfo
Acosta-Perez of Community Action Agency of Southern New Mexico. Rodolfo, are you on the phone?>>Rodolfo: Yeah, hi. Can you hear me fine?>>Megan: We can hear you great. Go right ahead and just let me know when you
like me to advance your slides.>>Rodolfo: Okay, thank you. So hello, hello everyone. My name is Rodolfo and I work at Community
Action Agency of Southern New Mexico. And I am the Family Empowerment Director. And before I start my presentation, I just
want to thank Stephanie, Megan for giving me the opportunity to talk about our IDA program.>>Megan: Absolutely. We’re glad to have you.>>Rodolfo: Thank you. Okay having that said, Community Action Agency
is a nonprofit that was created in 1965. We are located in Las Cruces, New Mexico and
some of the services we provide are obviously IDAs, Children Savings Account, free Tax Preparation,
computer training, consulting to small businesses, Financial Education, and so on. And we served about 17,000 people last year. So as you can see right here, some, these
are some of the programs that we actually offer and everyone of our programs is tied
to an educational component and IDAs are no exception. So let me tell you a little bit about my experience
working with the IDA program. I started working at CAA about five years
ago. And to be honest, at the time, I didn’t
have any experience working with the IDAs. Most of my experience was working for a university
in the private sector. Companies like Coca-Cola and General Electric. So, when I started working at CAA, I was going
to be a consultant, I didn’t have a permanent job, I was going to be a consultant for six
months and I was going to do a feasibility study on IDAs. Basically, I was going to do an economic impact
analysis. So, I have to learn about IDAs and I got a
surprise six months later, you know, before completing my assignment that I basically
got promoted and I ended up managing the IDA Program. I have written a grant which I was lucky enough
to get and I have no idea I was going to end up managing the program that I wrote or the
grant that I wrote. This is just an introduction on how I ended
up at managing the IDA Program. So, in our program, you know, we require participants
to save a $1,000. They get a four to one match rate and at the
end of the program, they get $5,000 that they can use to go to college to start a business
or purchase a home. And as you know, we have to create strong
partnerships to make, to run a successful IDA Program. So, in this slide, think about this as a blueprint
or as a theory of change that is going to show you the interventions and the resources
that are needed to get from A to B. In this case, how can I run a successful program by
partnership with educational institutions? Just as another view, 167 participants have
graduated from our program in about nine years. That’s a 74% success rate. So, how can we accomplish this? Oh, can you go back Stephanie please to the
last slide? Okay. So, how can you actually create good partnerships
with educational institutions? First of all, you have to research the institutions
you want to work with. You have to be familiar with the resources
they have to offer. Then number two, what programs do they offer? Is their mission aligned with your mission? Do you have something in common? And then you have to build upon existing programs
and make sure that these institutions are working with your target population. But remember, sometimes IDA sound too good
to be true. So you have to be ready to send a message
of action and optimism. How can you do this? The benefits of an IDA Program might not be
that obvious to some partners. So you can rely on data but success stories
are going to help bring the message home. Sometimes, you can actually have former graduates
present to educational institutions, that way they can learn about the program first
hand. You have to emphasize that IDAs are going
to be tied to an educational component. And
you can also prove that the IDAs are going to fill some gaps that the scholarships cannot. And IDAs are going to translate into increased
tuition expenditures. In IDAs, IDA savers get an understanding of
positive financial behaviors. So they’re going to be more successful in
college. You need to get a champion, at the partner,
with the partner you want to work with. So you have to select an ambassador. And you have to make a decision who’s going
to be the right person to champion an IDA Program. Sometimes, you have to work with the educators
and the school officials and who are going to take on the initiative to market your program. They’re going to tell you work with the
target population you need and then you can do the enrollment. Sometimes you can work with the college high
school programs because they have already made audiences and they’re working with
low income population that you need for your IDA Program. And sometimes you have to work with the accounts
receivable department or the right department, that way you can expedite or stream line the
cash out process. In our case, we never give a lump sum payment
to the students. We have them come in every semester and they
can use their money to pay for books, tuition, or computer supplies, whatever they need. And I’m just going to give you an example
how we partner with the appropriate department. As you know, sometimes, the students need
their books right away as soon as the semester starts. So sometimes, I mean depending who you’re
working with you’re not going to have the check ready in one day or 24 hours. So, in my case, you know, I learned that our
local university in New Mexico State University offers a student like a bookstore account. This way, I can work with the actual bookstore,
the students can charge their books to this account and then I can copy check later on
that way the students are not going to miss any material, you know, and they need the
books to work on a final, an essay and so on, I mean an exam, an essay and so on. And then, remember, that you have to communicate
successes. This is a working process. You have to keep your partners informed of
savers’ progress. I mean it looks pretty simple, you know, how
can I get from A to B? This is not going to be a linear process. We’re going to make mistakes along the way… what you can actually do to work with your
partners. Okay. And as you know, IDAs are an evidence-based
approach to economic development and let me tell you why. We conducted an economic impact study in 2011
to calculate the net increase in economic activity as a result of our intervention. In this case, our IDA model. So, when we talk about economic impact, think
about, think of this as a multiplier effect that is going to analyze the linkages or the
relationship between economic sectors in your economy. At the time we conducted the study, 126 participants
has graduated from the program that was about a 75% success rate. So we can say that the economic impact generated
by the program was created by 50 home purchases, 33 enrollments at post-secondary educational
institutions and 43 business start-ups or expansions depending our participants generated
a total of 3.8 million in output. Almost two million in value added. And then, about 1.2 million in labor income
increased wages and salaries. And we created about 34 jobs per year. So, as you can see,
IDAs actually work and according to CFED each dollar invested in IDAs is going to bring
about $5 to a local economy. I want to talk about one of our clients. This is a success story and what is unique
about this participant. What is so unique about Jorge Dominguez is
that, he got a job in Colorado, Silverton, Colorado which is about eight hours from Las
Cruces. And by the time, I wasn’t working with Jorge
but I know that he used to drive eight hours every single week to complete the 20 hours
of financial education that he had to complete. And the reason why he wanted to do this is
because he wanted to get that real life experience. He didn’t want to do the classes online. He wanted to come all the way to Cruces, work
with his peers and actually complete the 20 hours of financial education. So, he’s a living proof that low income
people are willing and able to save when they get the right incentive. And what is he doing now? I know he graduated with an engineering degree
from New Mexico State University and he wanted to give something back to the community. So he’s building bridges in Nepal and Nicaragua. So he’s the type of leader we want to help
succeed and that’s all I have. And I’ll be here to answer any questions. Thank you for your time.>>Megan: That was really great. Thank you so much, Rodolfo. That was great story and I really loved that
you included the success story about one of your clients and I think your point that individual,
it doesn’t matter where they are, are interested in learning more about financial education
and savings. And if you can meet them where they are and
can help them to get that goal, I mean that’s really the whole purpose of the whole AFI
Program. So that’s really fantastic. Thank you so much.>>Megan: As I am, you know, a little too
earlier folks on the call, we have plenty of time later on for questions and answer
to what you just heard about the Community Action Agency of Southern New Mexico and Rodolfo’s
story. Please, feel free to type in any questions
or comments that you have right now otherwise there’s again a plenty of time later so
don’t go rush if nothing immediately comes to you. Let’s just give a moment for that at the
moment.>>Megan: All right, great. Well, thanks again, Rodolfo, I really appreciate
it. So now, let me introduce our next speaker
which is going to be Maggie Sanborn of Earn to Learn. Maggie, are you on the line?>>Maggie: Yes. Can you hear me?>>Megan: Right. We can hear you, great. Thank you so much.>>Maggie: All right. My name is Maggie Sanborn. I’m the director of programs administration
at Earn to Learn which is an IDA Program for Arizona students who are looking to pursue
their secondary education in Arizona State Universities. Earn to Learn was founded in 2008 by Kate
Hoffman and it was primarily focused on housing and it was called Live the Solution at that
time. In January of 2013, Live the Solution started
a flagship program called Arizona Earn to Learn, which was an IDA Program that was focused
on college education. With the success of this program in 2015,
Live the Solution officially renamed and rebranded into Earn to Learn. So now we are still only in Arizona. We have 15 fulltime staff members and a lot
of part time staff as well helping us out with that administrative burden that we’ve
heard about in beginning of this call. So we partner with the Arizona Board of Regents
which is the governing body of the Arizona public university system and then all three
state universities, so Arizona State University, Northern Arizona University and the University
of Arizona. I think one thing that has led to some of
our success at these schools is we actually have an Earn to Learn office at each of the
universities that consists of our team of success coaches or program coordinators. So we’re in the three major cities in Arizona. So I was mainly going to talk about the recruitment
and then our partnership with this universities. Each one handles Earn to Learn a little bit
differently so in every step of our partnership. The universities are the ones who applied
for the AFI grants with Earn to Learn so their grants are a little bit different. I’ll start with the recruitments, they all
again handle Earn to Learn recruitment differently but we’ve been gropingly coming together in
our 5th year now to provide the same services. Universities are really helpful with Earn
to Learn in providing our literature at their university events and then in terms of giving
us their information for our internal outreach and recruiting events. All three universities are also willing to
send emails on our behalf to their entire listserv. So our little 15 person organization is being
helped out by major universities and their entire state wide listserv. The administration team both the staff and
the student of universities receive presentations from Earn to Learn each year and this is something
that we’ve found very helpful. It allows both our team and the university’s
team to promote our program accurately. And it is definitely a fundamental piece of
how a good relationship with university, their offices, their staff really affects the students
and the effort we’re trying to make. Some of the challenges that we face, I said
it before but each university applied as their own grant. So they defined their target population or
their eligible students a little bit differently. So balancing these differences can be hard
with the students that we work with. They’re mainly high school and community college,
young, students and they’re not really started on the university choice. So we really have to let them know in the
beginning of their application process with Earn to Learn that they might not be eligible
at all the universities. So we really do let them know incoming freshmen
are definitely eligible at all the universities and then we have transfer students which is
just something very recent. Two of the really important offices and important
relationships to build when you’re talking to universities or colleges is the financial
aid the admission team, so building up relationship is very important. They work together at the universities but
they are separated and they handle different functions that affects us students and their
enrolment at the university. So we have to maintain relationships with
both offices at all three of our partner universities. We also receive training for our staff about
the differences in Financial Aid and Admission throughout the state. Our regional staff at all three of the, our
partners, they attend yearly training with Financial Aid and Admission. And then having a Point Person at the university
is very important to our relationship. They are a specific person that we can go
to or a student can go to, to help you track of any questions or concerns. Not just giving our student and savers a generic
number or is there 800 number but having someone that, that really checks in with them. And then follows up with Earn to Learn so
we can make sure to track concerns and issue. And then notifying both offices of Earn to
Learn or program changes is very important so their staff can stay up to date. So kind of that, we expect them to update
us and they expect us to update them and it’s really important to just stay on track and
really build that bridge between the universities, our programs, and our students. Some of the challenges that we see are actual
scholarship dollars are applied a little bit differently through financial aid offices
at the universities and then explaining that to students who are applying to multiple schools
takes time and staff understanding of the process. So having high school and young community
college students as our main program savers—they’re all encouraged to apply all the state school
just to make sure that they get the best package that they deserve. So the clients that we’re working with are
set at what university they’ll be using their IDA scholarship for. And again it just requires yearly training
from these, from both of these offices. What is the big changes that we’ve gone recently
at Earn to Learn is we’ve connected with a third office at the university which is the
student support services office. The reason we did this was we really want
our staff to have, to be well informed on how we can refer students to existing support
services that the universities have. We want them also to have follow through and
check in and then tracking the involvement for our student to benefit them all. The reason we went this way, we, in the beginning
we’d create internal support services and that took a lot of time and effort. We would send our staff to training and educate
our self and then in turn have to educate our savers, teach them what we just learned,
how to administer these servicers and we couldn’t grow in the way we wanted to. We have a stop 1000 plus active student savers
in our program and we just couldn’t do that one on one connection with them so we decided
to develop this relationship with the student support services office at each of the universities. We’re still developing a system so that
we can report to them and then they can report to us on which services to soon have access
and which student may need reminders that these services exist and if they’re free to
them with their tuition so we really want them to take advantage of what the universities
already have. One of the big things is tracking student
issues at universities so we really encourage our success coaches, our program coordinators
and our program director to really track our student issues until they are fully taken
care of and the student is, ensure that everything is smooth and ready to go. We do email and calls to the universities
regularly about every week or every other week. Actually, just discussed case by case individual
issues, this could be from FAFSA to actual enrollment, changing their start dates at
the universities. We report out to the universities to get their
information back and then create a resource list for future students. And having that point person is really a lesson
learned for us. The financial aid point person and the admissions
point person. They handle this situation. One of the hardest parts of connecting with
the university is making sure the actual grant is tracked. We have a total of 12 grants at Earn to Learn
at the three universities and each of our students can stay in our program for four
years. So just assigning them internally in our database
to a role and a cohort or whatever university they’re going to and then their start date
helps us at Earn to Learn track them and then universities track which grant … just so
we can, they can spend on how much money is left at the universities and how many more
slots there are for students and we could do proper outreach and recruiting. And then we always confirm with the students
prior to their start date. We don’t want to have them their money going
to one school and their actual enrollment at another. We do confirm with all students even though
we have a thousand of them. And this is just a wire process to the universities. This is in other way we track the actual IDA
scholarship that’s going to the university that happens twice a year. Our staff as well as our students, our Financial
Institution partners, and our universities. So there’s tracking on all ways. So the administrative piece that really weighs
down on our staff but it’s the most important one to get the students the money that they
have been saving, get their match and then apply it to the right university. The key take-aways for us in our 5th year
we’re training and updates are important at offices at the universities and colleges,
training on your program or our program and training on their school. So just being able to connect with the universities
and having them be able to connect with us. And then the best offices that we have connection
than relationship with all the admissions, financial aid and now the student support
services. So those definitely are the three areas that
we are focusing on and keeping that relationship and those one-on-one partnership really, really
strong. And I think that’s it.>>Megan: Wow. That was really great. Thank you so much Maggie. I love the way you spelled out sort of, you
know, everything that you’ve done but also some of the challenges that you’ve even
countered and the lessons that you’ve learned from that. It seems like tracking and establishing tracking
systems has been sort of a key and those relationships, you know. As Rodolfo even mentioned before has been
really a key part of the success and of what you’ve done. And what I also love about that is it sounds
like it doesn’t really sort of embraced the trial and error, you know, kind of elements
of this which is, you know, hard but I think you, you’ve seen a lot of success from it. So that’s really great. We have a couple questions specifically. So one of the questions is, does the schools
apply for the grant but Earn to Learn works the grant. So like is the grant coming through Earn to
Learn or is it coming through the school? Can you talk or the board of regents here,
can you talk more specifically about that?>>Maggie: Yes. It is coming from the school and then Earn
to Learn administers the grant. I was on a board of regent that governing
body, they worked with all of the three universities and then Earn to Learn on top of that to apply
for the grant. And then it was Earn to Learn’s responsibility
to find the staff power in our program to administer, find the students, set everybody
up for the actual disbursement of the funds. We technically I guess are under the university.>>Megan: Okay, okay. That’s helpful. And hopefully that was helpful to the person
who asked that question. Another question, you mentioned, Maggie that
one of the important sort of pieces that you guys have been to places establishing that
point person at the different departments. Is there a specific department with which
you should establish a point person or should you have one at each one? And what can you talk a little more in detail
about that and what that looks like?>>Maggie Sanborn: Yes. It’s a little bit different at each of the
universities. Obviously, one example at the University of
Arizona there are, the person who is in charge of our scholarship or our grants there works
for both Financial Aid and Admission. She oversees both offices. But then under her, there are people that
we are always supposed to contact with her attached. The point person came to us with our grant
which is nice. But we’ve also established other sub kind
of relationship in the specific offices. That is just something, I mean we always need
one person to go to, one email address we have to ask questions. It changes sometimes like turnover at the
universities or people who may have different their jobs. But we’ve always been assigned to one person
per office.>>Megan: Okay, great. That’s really helpful. That’s really helpful. Thanks, Maggie. All right, we’ve got a lot of more sort of
general questions coming in. So I think now, we’ll turn on to over to
our next speaker and that’s going to be Brent Wilder with the Oregon Alliance of Independent
Colleges and Universities. Brent, do we have you on the line?>>Brent: I am here. Thank you so much Megan.>>Megan: Excellent, fantastic. I’ll let you take it away just let me know
as you need to change slides.>>Brent: Well, I just want to say that I
truly enjoyed the two previous presentations. And I’ll tell you what, what I am going
to trying to do is, is maybe kind of shape my comments kind of based on what information
has been presented and really kind of maybe focus on how we establish our programs here
in addition to what, you know, really what’s going to be helpful in really establishing
those of key relationships with post-secondary institutions. So why don’t you go ahead and bring up the
next slide and we will go ahead and proceed. But just a little bit of background about
our program here in Oregon, there’s a lot of similarities with the two previous programs
especially with Earn to Learn. We’ve had a lot of conversations with Kate. But in Oregon we are an organization that
works with 18 private nonprofit institutions here in Oregon. And back in 2007, there was a research grant. It was being conducted here nationally and
they facilitated an introduction with an AFI grantee here in Oregon. And ourselves and CASA of Oregon were looking
to develop creative solutions to helping low income individuals acquire an asset. We felt education was a real key component
of that. It really helped facilitate an introduction
to CASA back in 2007. And I appreciate the comments but I was trying
to find mission alignment and that is so critically important because our president at that time
had reached out to our organization and said really can you help increase access of low
income individuals to our campuses. And so that was a really a point
of emphasis for us and it really aligned naturally with what CASA and their interest too to grow
their education IDA program. So back in 2007 we really, we modeled the
other existing relationships for AFI grants and established what we called the Matched
College Savings Program. And really, we were intentional to build the
program from the ground up. And so what we did is we established a formal
partnership with CASA. CASA is the one that is getting the AFI grant. And so we started developing a series of informational
meetings with our financial aid directors at, that time, ten campuses. And what we found out is that largely much
like our organization, we were not that from, I’ve never heard of an education IDA. I wasn’t really familiar with IDAs in general
because again my background is within higher education. And we found the same to be true with our
Financial Aid partners. They were very accustomed to funding from
the Department of Ed. They were not familiar with IDAs, didn’t
really know how it would impact Financial Aid. So we really started from the ground level
and kind of building and educational awareness of the uses of the IDAs, how they could be
used within post-secondary education. And that was that we were intentional but
we took about two years to kind of just really develop what would be the appropriate for
the match rate. What
would be the appropriate level that we should target. Early on at that time, we, you know, back
in about 2007, 2008 the average debt load at that time was approximately $25,000. And so we felt like if we could develop a
program that would really kind of feel that gap by about 50% and we would felt that would
be good. And so we developed a program that has five
to one match and we will match up to $1,800 of student savings with an additional $8,000
in match. And in Oregon, we’re unique. Oregon has a state tax credit that they can
help you supply the nonfederal match but it also enabled our organization to go out and
fundraise an additional dollars to help to support that student match. So of the $8,000 in matched, $2,000 comes
from AFI, $3,000 comes from the Oregon IDA Program and then $3,000 comes from money that
we’re able to leverage in match and raise from the corporate community here in Oregon. So it’s, we started it, we launched it, you
know, back where we have first withdrawals were back in 2010. We don’t have a thousand savers like Arizona’s
Earn to Learn program but we’ve had over 265 students go through the program and we’ve
conducted a survey evaluation of the program and the results have been phenomenal. It’s just been but it has taken us quite
some time to kind of build and develop a relationship with our campuses and much like what Maggie
said Financial Aid and Admissions and student support services for us are our critical partners
in this endeavor and, you know, I think that if you’re
seeing that’s unique about our program is that we took an AFI grantee CASA of Oregon
who was interested in partner or developing education IDAs and then partner with an organization
that has some pretty deep relationships with who is a private institution here in Oregon. So, you know, when you’re looking at trying
to develop and start those relationships with post-secondary institutions, I really encourage
you to kind of look for organizations like ours who have existing relationships with
institutions. If we meet out Financial Aid and Admissions
folks on a regular basis, we were doing some existing work to outreach with community based
organizations to really develop increased access to our institutions and so there was
really some strong alignment there. And I think in looking back at our program
and again visiting with the folks from CASA, you know, they said the ability to partner
with a nonprofit like us has been critical because we were able to open
doors that otherwise would’ve been more of a challenge to try to navigate and still,
we really initially had a strong relationship and so Megan, I apologize. I’m really, I’m diverting off a lot of these,
my slide presentation but I’m trying it to more what we’ve heard already but I think
the one thing that really what we’ve been able to do and I think, in our conversations
with our campuses, you know the last bullet that you’re seeing right now. We’re trying to leverage more scholarship
and student aid dollars. You know, right now, 92% of our students are
on campus receive some sort of or a Financial Aid but that that still leaves a gap and so
the no benefits reduction clause is really a key piece there is that students are able
to maximize their aid from their campuses and the IDA program is ideal because it allows
students to have some skin in the game and to really address that gap that otherwise
would be very, very difficult and I think the other thing we’re also doing is with
our campuses is really, it’s more than the money. What we’re finding is that we’re, we would
talk our language with our campuses is little bit different. We’ve talked about the earning of a degree
as the acquisition of an asset and what our evaluation prove to be as is the support services
that are could better required of the IDA program: the financial literacy, the professional
development piece, the career planning pieces, all existing pieces that already take place
on a campus but we’re just documenting it for the purposes of the IDA program are equally
as an important to just the academic preparations that the students are receiving and so what
we have found is that those who have been well received equally is important. Those are things that are just added benefits
to an education IDA program but again I think, just to echo some of the things that were
said earlier, the relationships with the campuses are key, you know, we were fortunate that
our board of directors includes our college and university presidents and so
having that buy-in at the top down has been really critical. You know, some of our campuses where we’ve
seen more participation and others, some of that internal champion has come at the presidential
level and that’s been really a very key part to the success of our program and the
continued growth of it. And again, I think that that, I think if you,
if you have the ability to get back the champion at that level, it make a pretty significant
difference. I think that without, you know, again, I think
I’ve talked specifically about it but again, I think, I would really encourage a lot of
you to then again try to find organizations where you have mission alignment that really
could be a great partner. Nonprofit organization that work with or other
system organizations like in Arizona could be a really a key partner in developing an
educational IDA program that could be very successful.>>Megan: That was great Brent. Thank you so much and I’ve really completely
appreciate your willingness and interest in being inflexible based on kind of what you’ve
heard from some of the others speakers so that’s fantastic. No problem at all. Yeah, and so, you know, obviously to those
that are on the call, we’ll share these slides as I mentioned earlier but I’m sure
that, you know, we’ll have an opportunity over the next half hour. So to continue to ask questions so if you
have more specific questions around some of the information that any of the speakers are
particularly Brent are slightly off from his talking point which is totally fine. We can follow up or ask questions now and
later so one specific question that did come in Brent, could you brace the matche down
just again real quick. It’s 2,000, 3,000 and 3,000?>>Brent: Correct and so again, we’ve, we’ve
structured a little bit differently on it. What we’re seeing is that most of our, most
of our savers are starting in the second year of school. So our campuses, our Financial Aid directors
are the key point people enrolling students. We’ve got 36 months for those students to
spend the money to …. approximately $10,000 in resources down and so the source of that
match is $2,000 is AFI, $3,000 comes from Oregon has got a sales tax credit to fund
an IDA, the nonfederal IDAs program in Oregon. So $3,000 comes from that and then $3,000
comes from our organization that we’re able to raise primarily from the corporate community
as an additional match to get to $8,000.>>Megan: Great that’s really helpful, thank
you, thank you, thank you. All right, and so with that if there are no
other specific questions for specific speakers, I think right now, we’re going to move on
to sort general questions. So, you know, these are open I would ask,
you know, any of us speakers to kind of jump in and feel free to answer specifically a
kind of, to answer the question from your perspective or if you have additional comments
and there may be an opportunity for us to ask folks on the phone and unmute you if you
have a particularly compelling answer or story to share, you know, and to augment kind of
any of our presenter’s answers. So, I guess where we’ll start is and this
is a question that we get all the time at CFED and working with AFI grantees but for
the speakers first, you have a specific database that you use to track your grants. We’ll just go in order of who’s presented
here, so Rodolfo?>>Rodolfo: Yeah. And that’s a pretty good question and I
forgot to mention that we have been offering in IDAs as a sub grantee of the New Mexico
Assets Consortium which is formed by 22 community based organizations and about 20 financially
institutions. At about five years ago that’s when we,
to apply for our own AFI grant, we continued to work with the consortium but we decided
to apply for our own grant. So that was the challenge where we had come
up with our own data reporting system and to the New Mexico consortium we use AFI then
with my new grant, I kind of created my own little macro in Excel. We started with 22 high school students and
then we used to use ETO. Honestly, I don’t remember what acronym
stands for but I mean for the most part …>>Megan: Efforts to Outcome.>>Rodolfo : Efforts to Outcome, yeah. Thank you. And pretty much I created my own tool in Excel
and let me tell you why because as you know I’m pretty big on quantifying the economic
impact of our program. So I created a database that is going to help
me gather the economic data that I need to send the message of action to stakeholders.>>Megan: It makes absolute sense, thank you. And I appreciate you underscoring kind of
the importance of being able to communicate the economic impact of this work. Any kind of relationship, your post-secondary
educational partners, your funders, the community even that you work with, being able to communicate
the impact in that way is always critical. So that’s great. Maggie, is there something, a specific type
of database, a tracking system that you want to use at Earn to Learn or with the board
of regents in the school?>>Maggie: Yeah. We use Outcome Tracker, VistaShare Outcome
Tracker as our database.>>Megan: Okay, fantastic, fantastic. I’m sure some of you are familiar with that
kind of tracker and Brent, what is the tracking system that you all use or database that you
all use to track your programs and your grants?>>Brent: Yeah. We, well that’s the CASA of Oregon does
that for us. I mean we use an Excel spreadsheet in our
office to kind of track it as well but CASA use Outcome Tracker as well.>>Megan: Fantastic. That actually leads me to a sligth follow
up questions and Brent I know that you’re a little more outside of these sort of knots
and bolts pieces but I wonder, you know, if any of you could answer this. When you’re sharing information with another
partner who’s using a different tracking system, sorry for that thank you, do you find
it, has there been a particular system that you’ve found that works well? Is it just sort of sending over Excel documents
since you have them? Do you use one of the Google shared documents? Has anybody come up with an interesting message
for sharing data when you’re working with a partner who uses a different tracking systems
and then your organization?>>Maggie: Yes. For Earn to Learn, our financial institution
partners from the bank where our IDAs are housed actually created systems so it does
communicate well with Outcome Tracker. So like all the students depositse automatically
input into our database. But then for the universities they request
us to use … like downloaded Excel Spreadsheet so anything we export from our database. And then to send it to them, we like to be
secure and keep our student information safe so we use either an internal system that they
have like similar to something like Dropbox. So password protected, sheets and everything
or we use our Earn to Learn Dropbox and give them access to that. But just basically it’s protected Excel
sheet. That’s how we share it back to our universities.>>Megan: Perfect, that’s really helpful. That’s really helpful, thank you. Okay. So we’ve got as I’m sure you all can imagine. We’ve got quite a few questions around that
funding match. So I’m going to run through some of these
and some of them, I’m going to try and a lot of them are very similar. So I’m going to try not repeat myself here
but we’re just going to let our questions around, in any of your cases do the colleges
or universities provide the nonfederal match and if they don’t can you talk a little
bit more about where you’ve had success getting that money and the process for working
with universities on that. So, I’ll just start right there and then
we’ll continue to move forward with some of the other questions.>>Brent: Well, this is Barnacle and Star
[ph] because we’re actually, we’re kind of evolving into a different model. It looks very much like Earn to Learn is doing
but, you know, historically our institutions have not been a funder in the program. Again, it’s been the source of the funding
[indiscernible 0:54:25] you know, again savings, AFI, the Oregon IDA program, and our organization. You know, we are evolving into a program model
that looks very similar to Earn to Learn and for the first time, we’re now asking our
institutions to take some of their scholarship money to be the nonfederal match. What we found out to be that in order to really
kind of meet the demand because we have, you know, we asked our campuses who kind of met
the income requirement and another was I think surprising to many of our institution. They’re going to be … it was a very significant
number and we’re asking them to be partners with us and, you know, that’s the transition
and that’s been met with some, you know, there’s
been some various success but we have three institutions that are willing to step up and
be partner in that way because they’ve seen in the success of the program to date. So we’re evolving into where the institutions
are going to be more of a financial partner in our program.>>Megan: That’s great Brent, thank you. Maggie, was also, do you have any other comments
around whether the, you know, do any of the colleges or universities you’ve worked with
provide that nonfederal match and if not, where, how does that sort of work in terms
of bringing the money over and do you have experiences or lessons that you’d like to
share around that?>>Maggie: Yes. At Earn to Learn, our three partner universities
provide the match, the nonfederal match so for each student they provide 2,000 of the
match dollars. So our students save $500 each year. It’s an eight to one match that we have
and the university provides $2,000 each year and then the AFI is the other $2,000.>>Megan: Great, great. Just a quick follow up question there, any
of you could answer but I think it’s sort of a piggy back actually after what you’ve
just said Maggie. When you’re first sort of entering the relationship
as you will with these post-secondary institutions and you’re looking for that nonfederal match,
can any of you speak to sort of what are some of the most compelling ways that you can get
their attention and ask for the nonfederal, if you’re hoping that they’re going to be
the ones to provide that. Is it an initial letter of interest? Do you kind of … getting buy-in from the
top is always really helpful at the beginning. So what does that look like and can you talk
a little bit about how to make those initial introductory conversations most compelling
to sort of secure that money?>>Rodolfo: This is Rodolfo and if you allow
me to do so, I just want to go back to the other question about this fund from the educational
institutions. Honestly, we have never secured any funding
from the educational institutions, they actually are more than happy to provide in-kind assistance
in the form of technical assistance, asset-specific training, access to their facilities, labs
and so on but I’m actually working with them, with New Mexico State University with their
business incubation. We’re trying to get them to match some of
our IDAs so that their incubator clients can actually go through the program. That’s kind of my elevator patch, you know,
like they’re going to get the asset specific training that they need and then they’re going
to get about $5,000 so that they can actually launch their business idea. That’s my whole elevator pitch right now. And we’re just successful in getting money
financial institutions. If you want to learn more about this topic,
I’m going to be presenting of the Community Action Partnership Conference in Austin in
August. And I’m going to be talking about how community
based organizations and financial institutions can work together to benefit one another. Under the Community Reinvestment Act, financial
institutions are going to improve their rating, their lending and their lending ratings if
they invest in low-income communities or an IDA program. So in the end is a win-win situation for the
bank because their ratings are going to improve and then our savers are going to deposit their
savings into their financial institution and then once they complete the program a lot
of people actually purchase a home or a car or decide to go back to school, get a masters
so it’s kind of what I call the invisible hand. They’re going to benefit themselves from investing
in the IDA program but the community is also going to benefit
from the investment.>>Brent: Megan, this is Brent. What we try to use as much data as possible,
I mean I think we have the benefit of our institutions not putting in any resources
into the program in our first seven or eight years and so we’ve have success through our
evaluation but what we’ve actually done is go back to the institutions. We’ve asked our Financial Aid directors, you
know, how many students do you have currently enrolled that are 200% below the poverty level
at your institution and so we’ve been able to get that number and then we go back to,
whether it’s the president, the CFO, Financial Aid Director and have said, you know, we’ve
asked this question to your institution and, , for example if you got one institution that’s
just got, you know, let’s say 2,500 students and they have 400 students that would meet
the income eligibility requirements. It begins to be a little bit more compelling
because they’ve seen the success of the program. They’ve seen how it’s been able to retain
students. They’ve been able to not only graduate through
the IDA program but graduate from the institution and be successful. And in many cases, they didn’t really even
realize that they had that many students that would be eligible to participate and so that’s
been I think a pretty key data point to share with them to kind of begin how they’ll looked
at it and consider being an investor in the program.>>Megan: That’s really great. These are good points. These are really good points. So I’m wondering I think, I’m sorry I’m
just looking through some of these questions here. So a general question would be we’re going
to move off of the funding piece for just a minute and go into kind of the question
of touch point. So, you know, this kind of leads back to the
very beginning. We’ve talked a little about capacity, administrative
capacity. One of our audience participants is wondering
how high-touch you consider your IDAs? And I think this is a particularly pertinent
when you’re working with post-secondary educational institutions and working with
students of all ages. Do you send monthly statements to the clients
and particularly with respect to sort of scaling your IDAs, you know, at some point your capacity
becomes constrained even if you started out as a very high-touch and you get larger and
try to reach or more broad population have a greater impact. In some cases, those clients’ touches have
to go down and in some cases maybe not. I wonder if you all could speak to any of
that, you know, related to sort of your success rates, the number of participants you have
getting to the asset purchase, graduating from their programs, those types of things. Can anybody speak a little more to that?>>Brent: This is Brent, I’ll talk. Okay. We, I mean the key touch point our campuses
has been in financial aid and so the financial aid offices, you know, that’s been some
of their feedback is that it, compared to what they do or you know the other aspects
of their job, this is pretty labor intensive. I mean the amount of time required to sit
down and document, submit the application and do the paperwork has been, you know, it’s
been difficult for them. You know, a couple of our key financial aid
people have said, you know, “I’d rather spend this time doing this because I know
that students are really going to benefit it. I could better time spent than trying to find
scholarship opportunities for example for students” but that’s been probably our
biggest challenge with our financial aid. Some of them embraced it but those who do
well, they say it is a challenge. Now, that we’ve seen the program grow, what
we’re looking at doing is using some of the administrative resources with the AFI
grant to alleviate that burden from our campuses and
essentially manage that to have a more of a central administrational and our partnership
with CASA take more of the involvement in higher touch points with students and really
take that off the plate of our financial aid directors because that’s a difficult part. But that’s a very good question so we’re
hopeful that it’ll help enable it to scale and grow successfully.>>Maggie: I would actually agree with Brent
and it is an administrative burden on the universities as well. I think what something we’ve learned in
the past few years is that timing is very important for our grant in our universities. So we send over like our potential new students
that are joining the program in January and the students aren’t even going to go to
the school until August. So it gives the universities plenty of time
to do a few back and forth with us to let us know that the students are not actually
involved or not doing this CASA or maybe even haven’t applied. So they all go through our list, they’ll
add notes. They’ll send it back to us and that’s
like probably every month until August. So we start way earlier than you think we
would but we just want to give the university time to send us list and then just goes to
back and forth with Earn to Learn universities and the students to get everyone situated. We didn’t do that in the beginning and we
lost a lot of students just because we weren’t checking in as much and the universities weren’t
checking in as much. So in the beginning it was definitely a lesson
learned. Start a little bit earlier and just stay on
track, on top of the students especially with the lower income bracket that we’re serving. We are serving as just another person that
is trying to help them out and being their support to get through this process because
a lot of our students are first generation. Even if they have the support at home they
don’t always have the knowledge or the step that they need to take so just being able
to serve them in that way, take the time and really work with the universities and our
students.>>Megan: They’re great answers. Thank you so much and, you know, just for
all of you as presenters and for the audience, our next and I’ll dive into this a little
bit later but our next webinar in this series which is going to be in August, that first
week of August. It’s going to be on program development
and we will be talking a little bit about how you can different sort of message or you
know opportunities that folks have found in order to continue to keep the folks they have
enrolled in their programs engaged and successful and we’ll talk through strategies about
how to do that and provide the support that you want to provide to your savers without
just completely exhausting your program staff with that administrative burden. So let’s take some of these lessons and
bring it over to there as well. I think that really sort of feeds nicely into
our next discussion in the series. I have a few very specific questions now that
have come through. And I want to kind of roll back to there,
if you’re comfortable with that specifically for Rodolfo and how do you track your job
outcome when you talk about sort of the entrepreneurial piece and businesses? Is it true a small business ownership and
then IDA or is it more through the post-secondary IDA program? How are you tracking those longer term outcomes?>>Rodolfo: Well, you know, it depends. When they did the economic impact study, I
actually, I had to call myself a 126 people to ask them about their experience in the
program. I’ll be more than happy to share the list
of questions that I used. I don’t remember all of them but most of
them were like, are you still saving on a monthly basis? Do you still own your business? Have you defaulted on your home and so on? And just to give you an example, I’m happy
to say that a 100% of our clients who purchased a home through the IDA program have not defaulted
on their mortgage. 93.4% of the business owners I mean their
businesses are still up and running. Most of our students actually went on to complete
their degree and they decided to go for a master’s and some of them I mean we try
to encourage our savers by nominating them for a national award or some kind like one
of them actually was highlighted as a success story by Senator Heinrich from New Mexico
when he introduced the two generation approach to
economic development. Another one, you know, Jorge. He is the one who was building bridges in
Nepal, Nicaragua and he was building houses for low-income people in Mexico and the US. So we always try to send out message, you
know. Sometimes we use data. Sometimes we use success stories but in the
end I mean as an economist, I’m always keeping track of data because I want to know what
people are doing with the IDA that they receive. It’s hard. It’s time-consuming but in the end I mean
I want to go beyond data, you know. Sometimes we have data and then we can translate
into information or knowledge and that’s what I want to provide to my funders and some
of other clients. I want to provide that knowledge, it’s going
to help me build my case for IDA.>>Megan: That’s fantastic and yes, I think
it would be really great Rodolfo if you can share those questions that you used with us,
we can make sure that they are made available when we send them out with the slides and
the transcripts from this later. That would be really, really helpful. And then just very quickly one final follow
up question, if you would also hear specifically for your program, you mentioned the calculation
that suggests that for every dollar that’s invested, $5 goes into the economy of your
local community. Can you talk a little bit or just sort of
quickly explain how you came up with that equation or how other folks can do that to
make the case as you say for an IDA?>>Rodolfo: Okay. Well actually, you know, that number, that
multiplier, you know, the one to five, that one I got it from the CFED’s website. According to CFED, you know, each dollar that
you invest in IDAs is going to translate into $5 in the local economy due to increased educational
expenditures, increased home mortgages, or increased business ownership. Because if you think about it, I mean people
are going to be investing in their education and then their earning potential is going
to go up so there’s going to be more disposable income in the economy to be spent. People are going to be buying more houses
or cars, I mean you name it. So how’s that? That’s how CFED got that number but I’ll
be more than happy to send you my reports. I mean it’s pretty lengthy. About a 145 pages. Or I can just send you the summary of our
economic impact in how we use implement our software to measure the multiplier effect
as a result of our intervention. I mean again it’s really hard to explain
in five minutes.>>Megan: Yeah. I understand. No. I think if you want to share that summary
that would be really, really great. I think the folks in the call would love to
talk, to hear more about how to explain the economic impact. So that’s fantastic. Thank you so much.>>Rodolfo: Actually that’s a public report
and I’ll be happy to send it. And just so you know, the way we calculated
the economic impact, you have to really careful choose the sectors of the economy you are
working with. When you’re working, you know, if you want
to measure the impact of educational IDA then you have to look at every single person you’re
your savers made through the IDA program. Was it books, tuition, and so on and so on? So you’re going to be, you’re going to select
the economic sectors you want to measure. That’s how you get the multiplier effect.>>Megan: That’s great. Thank you so much. I think that’s really critical. So moving I think onto a couple of specific
question we have for Maggie with Earn to Learn kind of going back to the funding piece, you
know, everybody’s a driver here always. If the grantees are with the university, where
are and if you can speak to it, where are the funds coming from the support the Earn
to Learn staff? Are you or are these a sort of outside grant,
outside money that you’re funding? Can you talk a little bit about all that?>>Maggie: Yes. It is outside money as well as a portion of
the university to provide an administrative fee for us to administer the grants for them. So they do, the universities do provide a
small amount of money per…kind of per-group of enrollments that we have of students, universities
do stock a few dollars but mostly that’s what our development efforts have to go towards
is finding money for our staff through grants and other donations.>>Megan: That’s great. Thank you and I love that idea of an administrative
fee. I wonder, does anybody else experience that? I haven’t heard much of that around the
country, is anyone else kind of …>>Maggie: I think it’s because like we
administer the grants for them and I’m not sure, like they apply to the grant. It’s not us applying to it so I think that’s
one of the reasons for that.>>Megan: That’s great. That is a very unique of kind of upsetting
your capacities so that’s awesome. I love just that.>>Brent: Can I just, I mean if our organization,
that’s why the partnership with the AFI grantee in CASA works really well because
we’re an organization that already exist on behalf of our institutions and the institutions
fund our organizations so we’re just taking the assets to organizations and putting them
together to provide the program to our campuses. So it’s very economical from that standpoint
to our campuses …>>Megan: Interesting. All right, that’s fantastic. Well that’s great but I’m glad you jump
in there. So a very specific question, have you filled
all the 265 thoughts and if so, how quickly were you able to do that? If you have not, what is your participant
acceptance rate?>>Brent: Is that question posed to me? I would say if, that’s an interesting question. We, let me just say, we had more funds available
so the program started out slowly. I mean we probably initially, given our funding
situation, we had 33 spots available in the first year. I think that was the case for the first couple
of years and so we didn’t fill them all the first year. I mean, so we just roll the money over year
after year until we gained traction until we gained greater understanding on our campuses. And so we’re now in a position where we
have to allocate spots to our campuses which is new because that wasn’t the case. Initially it was first come for served and
so that’s why we’ve had to be a little bit more creative with trying to find ways to
grow the program and that’s caused us to go to the campuses and asked them to be a
funder in the program because that way they know exactly how many spaces they have available
for a particular student for a particular year so we were rolling money over the first
few years and but now, we’re, that’s why we’re having to change that a little bit.>>Megan: That’s helpful, thank you. Okay. I’ve got two very specific questions and
if you have more questions, you know, keep them coming in. We can also kind of reach back out to our
speakers and our other sort of partners in the field to get to any other specific questions. So just while we have the opportunity, Kim
Clark, I know that you’re on but I’m not sure if you are currently at your computer
and I saw your question come in. So if you are able to join us, I’d love
to allow you to ask for your specific question and you and I have had several conversations
about it but then so just let us know if you get back. The next question is a specific one and this
could be for our speakers or for anybody on the call, feel free to just write in and we
can unmute you. If anybody has experience with partnering
with education, post-secondary educational institutions in California, we have somebody
on the line who have approached universities in the past and have not been able to get
any kind of bite when trying to partners, so does anybody have any
experience with California who could speak about it all or even the speakers that we
have on the call? Go ahead.>>Brent: This is Brent. I mean we’re part of a network of organizations
throughout the country and I’ll be honest. I mean I don’t think California was there
at that particular presentation nor have we had any contact with anybody in California.>>Megan: All right, fair enough. Well, we’ll see if we can get more information
about that and share it out with the group if others have had similar experiences in
the past. So now I would like to, Kim is on the line
and she’s ready. We’re about to unmute you Kim but let’s
just do a little stage setting here because I’ve hear this in the past. If the speaker, we’re about to hear about
a question, a very specific question that they’re dealing with there but a lot of
cases when I visited grantees, they are interested in making these relationships and partnerships
with post-secondary institutions but there’s a lot of sort of systems that either the university
foundation or the universities have in place that just seemed to be, you know, misaligned
with the legislation that is part of running an AFI grant. So I’m going to let Kim sort of talk about
her specific situation but if you guys, if anybody has kind of suggestions or advice
about how to navigate those sorts of legal and political kind of
situations, that would be great.>>So Kim, if you’re available, I’m just
going to unmute you real quick. All right, let’s try and talk. Can you say something? Yeah, I had a feeling. It looks like you’re not into your computer
so specifically I’ll just speak with her, Kim, on her situation. In their case, they have been working to form
a partnership with a college where a student has been awarded a scholarship but the student
scholarship is applied directly to the account and can’t go into the IDA account owned
by Kim’s organization. And so, that it’s a little challenging for
them to figure it out how to navigate that without sort of having the university themselves
apply for the AFI grants. So if anybody just had experience with how
to navigate maybe a joint account, making those student accounts joint accounts, whatever
that might look like. And then the second one is in some cases students
are awarded scholarship and they have to be spent immediately and so it doesn’t really
meet the AFI requirement of participants saving for six months. So these are the sort of like kind of they
seem like road blocks but I’m sure that everybody has experienced, you know, similar
kind of situations in the past. Can any of our speakers or anybody else in
the line kind of speak to these challenges?>>Maggie: So what’s the first question about
student savings account themselves?>>Megan: Well, it was about the student account
with the university and so the deal is with Kim’s situation in that particular partnership
that they’re trying to work with. They’re trying to do this sort of matched
to the scholarship that the student is getting as part of the sort of to offset the savings
and the nonfederal match and all of that. But the scholarship that the university award
requires of that scholarship be directly deposited into the student account at the university
and so it can’t go to the savings, the IDA savings account that the individual have as
you would with the normal IDA Program. So they’re trying to figure out how to,
from an accounting standpoint, how they can come to some sort of agreement or mutual conclusion,
I guess. Does that make sense?>>Maggie: I think so. Yeah. Our match dollars go directly towards the
student account at the university. They don’t go into the like IDA account
at the bank. But what we do have that relationship and
the tracking ability with the universities.>>Brent: But this sounds like, Megan, is
this a specific scholarship that an institutions kind of award the student and …>>Megan: Yeah. It’s very specific and that’s I try to
provide a little context, I’m sure that there has been similar sort of roadblocks that other
grantees have run into when trying to, you know, engage in relationships with post-secondary
institutions and if you could just talk a little bit about how you go about like even
breaching these sort of seemingly impermeable walls and working with post-secondary institutions
that I know this is your policy, this is what we have to follow, how can we come to an agreement
to change our policies together in such a way that everybody remains, you know, in compliance
and meeting their needs.>>Brent: Some of these things, it’s really
probably depends on individual scholarship because, you know, if it’s a scholarship
that a student earn that was from outside the institution, let’s say in Oregon that
community foundation awards a lot of private scholarship and so how they’re to be used
Kim is really darn specific and it’s pretty directed and so in many cases the campuses
have their hands tied a bit in terms of just how they were directed by the donor. And so that’s where it gets, that can be
a little bit challenging. If it’s institutional funds, it’s just
kind of a generic scholarship and again, I think that’s where, you know, in work with
our campuses … funder. If their general funds just being used for
scholarship then they’ve got more flexibility but if it’s a specific scholarship whether
somebody gave it to the institution for a specific purpose they’re not going to, their
flexibility is going to be pretty limited or you can’t be very flexible because again,
it’s being directed by probably an individual donor per say, I guess.>>Megan: Yeah. Yeah. I think that what you’re saying is kind
of in line with what I was thinking but, you know, for those that have encountered this
and thank you so much for both of you for something to suggest. You know, I think there’s a lot of very
specific types of scenarios like this that AFI grantees run into when trying to build
partnerships with post-secondary institutions. I think it’s probably the same spoken to
a lot of grantees to run into similar obviously different challenges when trying to build
the right partnership with the financial institution or other partners or in the community to try
and build their AFI grants and, you know, make it really successful. Sometimes, it’s a little more challenging
and it’s just kind of a case by case basis. But thank you so much for talking about that. And in general, I think, thanks so much for
everybody for talking about kind of your experiences for sharing your lessons learned, for providing
this really great insightful tips on how to build your relationships with post-secondary
institutions. And really be able to help your savers and
your community gets through all the way to asset purchase and particularly around post
[secondary] education. So this has been an incredibly robust webinar. We’ve had a ton of comments and questions
come in. If your question or comment was not addressed,
please, you know, hold on, we will get to them all, we’re going to read through all
the transcripts in time and make sure that we address, you know, everybody’s questions
and comments in the coming week. As I mentioned, we will be sharing out this
webinar and transcript. And if you have, you know, anything to follow
up that you’d like to ask, anything that comes to mind as you’re going to bed tonight
and thinking really critically about partnering with post-secondary institutions for you AFI
Grant. Feel free to reach out to us at CFED as always. And please join us for, I’m just wrapping
up here a little bit in our last two minutes. Please join us for our next webinar which
is going to be Monday, August 8, as I mentioned earlier is on program development. So, developing and delivering those AFI programs
since you all know requires careful planning, consideration and as you heard on this call,
all sometimes it’s a matter of kind guess and check. Try this and see how it works. You know, do that careful tracking, think
about the impact and communicate that, build those strong partnerships and then see what
works. So, we’re going to talk more generally about
program development on this next webinar so we hope you all will join us. I just want to say, you know, once again,
thank you so much Rodolfo and Brent and Maggie it was really, really invaluable to have you
all here. If you have any further questions, you know,
outside of this webinar for the speakers, you can always go to idaresources.acf.hhs.gov,
check out our calendar for any upcoming webinars or any upcoming AFI related sort of activities
or events via the calendar there, you’ll see it in the link. And then if you have specific help questions
always, feel free to email [email protected] or give them a call. Otherwise, thank you so much for your great
participation today, it was wonderful to have you on the call and I wish you a fantastic
rest of your Monday and a good week. Take care. Bye everyone, thank you.