Leadership Spotlight: Keith Williams

Keith Williams, Associate Director, Michigan State University, Former MASFAA Vice-President and current Commission Director for NASFAA.

How did you get started in financial aid?

I started my financial aid career as a work-study student during my sophomore year (September 1990) at Michigan State University (MSU).  My initial responsibilities included filing Student Aid Reports, typing receipts for scholarship checks and transporting departmental mail across campus.  Over the three-year period as a student employee I was gradually given more responsibility such as answering student phone calls and making direct updates in our financial aid module. 

Upon my undergraduate graduation, I applied for an open Financial Aid Officer I position at MSU.  I was offered the full-time employment opportunity and gladly accepted.  Over 20 years later, I am still happily employed the MSU Office of Financial Aid.

How did you first become involved in your state and regional associations?  I first became involved in MSFAA and MASFAA by simply going to the annual conferences.  I learned a great deal about the financial aid rules and regulations from attending these conferences.  I also had the opportunity to meet and network with some very experienced financial aid professionals from Michigan and all across the MASFAA region. 

The support and encouragement of the management team at MSU made it every easy for me to become involved in various financial aid associations.  The current FA Director at MSU, Rick Shipman, continues to be fully supportive of staff involvement at the state, regional and national level.

Why were you interested in a MASFAA leadership role? MASFAA is a great organization.  One of my career goals was to serve as an important member of an organization that is such a strong advocate for student financial aid.  I really felt that I could help MASFAA achieve some of its goals and objectives if I was able to serve in a leadership capacity.  I must admit that I was initially hesitant to run for an elected position.  After sitting on a couple of committees and serving as a committee chair, I felt much more confident striving to become one of MASFAA’s elected leaders.

What advice do you have for someone new to financial aid? I would encourage any new financial aid professional to attend a state or regional conference.   In addition to learning valuable information related to financial aid, you will get a chance to meet many other seasoned financial aid professionals from the state and the region.  Seek out a positive mentor (or two) within the profession.  A good mentor can certainly give you the necessary advice and guidance to have a long and successful career in our great profession. 

I have been blessed to have some really great mentors/ role models in our great profession.  I will not name them individually, but they know who they are.   For those wonderful mentors, I say “Thank You” for all you have done over the years!

What advice do you have for someone interested in becoming more involved in MASFAA?   I would recommend to anyone interested in becoming more involved in MASFAA to do some research and find out what the association is all about.  Check out MASFAA’s great website ( www.masfaaweb.org ).   See if MASFAA’s long-term goals are in alignment with your own goals and objectives.  I would also suggest you speak with other active members of the association to obtain their perspective.  I am pretty certain that anyone who chooses to get involved in MASFAA will find it to be a worthwhile experience.  However, it is important that you gather as much information as possible before proceeding.

What are you looking forward to learning during your leadership term?   While a member of MASFAA’s Executive Council, my goal was to gain a better understanding as to how some of the rules and regulations regarding financial aid are established.  MASFAA has an excellent working relationship with both our national financial aid association and Federal Student Aid.  Being a part of such a wonderful organization such as MASFAA allows one to work much closer with the actual decision and policy makers.  This is an opportunity that many financial aid professionals will never get.

What do you enjoy doing when you are outside the aid office?   One of the great benefits about our profession is that it allows you to have both a wonderful work life and an even better non-work life.  When I am not working, I spend the overwhelming majority of my time with family.  I have been happily married for 19 years (Tara) and have two great sons (Kevin and Brian).  If we are not attending a sporting event for one the boys, we spend a great deal of family time bowling or going to the movie theatre.

Any final thoughts?

When I first accepted the work-study job over 25 years ago, I had no idea it would turn into a great career opportunity for me.  I realize that being a part of such a wonderful profession is both and honor and a privilege. Over the years, I have met life-long friends (also in the financial aid profession) from all over the country.  I have also had the honor to sit and discuss financial aid issues with various members of the United States Congress. 

The absolute best part of my job is helping to remove the financial barriers for our neediest students.  Without financial aid, there is no way I could have made it through college.  Seeing an incoming freshmen reach the ultimate goal of graduation is the ultimate satisfaction for me.  I look forward to a day when affordability is no longer an issue in higher education.  Getting involved (and staying involved) ensures that you have a voice in the future of financial aid.

Putting ‘Big Data’ to Work to Prevent Student Loan Default

Submitted by: Angela Henry, USA Funds Account Executive

Which borrowers at your school are most likely to default on their student loans?

It’s a question you need to be able to answer to most effectively prevent those defaults. And there’s only one way to know the answer:

Analyze the data.

The importance of ‘big data’

Being proactive in your default prevention means not only helping borrowers who are in trouble to get back on track, but also keeping borrowers whose loans are in good standing from falling behind in the first place.

Seems like a daunting — and expensive — task. And it can be, if you take the blanket approach traditionally employed by schools working to lower their cohort default rates.

But the better approach is to work smarter, not harder.

Determine the characteristics of your institution’s borrowers who are most likely to default, and then take a targeted approach to default prevention.

To find those characteristics, you have to go beyond making assumptions. That’s because there’s no set rule for who most frequently defaults. The attributes of defaulters at one school are not necessarily the same as those at another.

You have to analyze the data for your own borrowers.

Then you can target your default prevention, allocating the most support to those who are likely to need the most help. This approach allows you to make the best use of your resources.

What data can you study to determine which borrowers are at greatest risk of defaulting? Here are some examples:

·         Standardized test scores.

·         Student application details.

·         Contact or interaction history.

·         GPA.

·         Full- or part-time or online enrollment status.

·         Major.

·         Employment status.

·         Involvement in on-campus activities

·         Student loan and grant information.

·         Alumni engagement.

Putting ‘big data’ to work

Institutional data, servicer files, and the National Student Loan Data System all are good sources of borrower information that can help you find out who’s most at risk of defaulting at your school.

You can turn that data into actionable insights that guide your targeted borrower outreach plan. USA Funds’ cohort analysis approach is to categorize your portfolio of borrowers into three levels of default risk: low, moderate and high. And that default risk, along with a borrower’s repayment status and your school’s default prevention budget, should dictate how you implement your borrower outreach strategies.

If you need assistance with default prevention planning, visit www.borrowerconnect.org. 

Kansas City, Here We Come…

The contract has been signed and MASFAA will be heading to Kansas City for the 2016 Annual Conference in October.  So if its great BBQ and Jazz you want, you won’t want to miss MASFAA in Kansas City, Missouri, October 2-5, 2016! Mark your calendars now!

The famous song “Kansas City” promises a good time at the corner of 12th Street and Vine. But don’t take it too literally; there is no such place. Not anymore. But you can pose for photos under the commemorative sign that marks the historic intersection at the renovated park that has been there since 2005. You can, however, find a jazz museum, the Negro Leagues Baseball Museum and more at 18th and Vine!

The most iconic piece of public art in Kansas City might well be “The Scout,” a Sioux on horseback that has looked out over downtown since 1922. A 2008 Star Magazine cover story, “If Statues Could Talk,” asked readers what the Indian or its steed might say if given the chance. One reader suggested the following: “Tonto, I don’t believe we’re in Kansas anymore.”

Given that Walt Disney grew up partly in Kansas City (and found inspiration in a local mouse), you’d think Disneyland would have opened here. No. But in 1973, KC finally got its own theme park, Worlds of Fun.

Union Station draws tourists from all over the world who marvel at her Grand Hall's 95-foot ceiling, three 3,500-pound chandeliers and the six-foot wide clock hanging in her central arch. Just as you could 100 years ago, you can still catch the train at Union Station's AMTRAK STOP and head out across the country. You'll also find a permanent rail exhibit called the KC RAIL EXPERIENCE, exhibit spaces for traveling exhibits produced by the Smithsonian, National Geographic and other international organizations, a PLANETARIUM, an interactive science center SCIENCE CITY and a vibrant Theater District featuring GIANT-SCREEN MOVIES, LIVE THEATER, and so much more.

The Nelson-Atkins Museum of Art's famous “Shuttlecocks.”  The museum is intended to be the net in the oversized game of badminton. That’s why there are three shuttlecocks on the south lawn and one on the north lawn. One sailed over the net!

Kansas City is a diverse city, not only with its culture, but also in its skyscrapers. Like most other large U.S. cities, it has an eclectic mixture of old and new structures. Many buildings incorporate art deco details in a number of ways, as exhibited by the Kansas City Power and Light Building, Municipal Auditorium, and the Bartle Hall Pylons.

The Kansas City Power & Light District is a premier dining, entertainment and shopping district in the heart of downtown Kansas City.

The Kansas City Marriott Downtown connects travelers and visitors to the heart of KC’s entertainment district. The KC Convention Center is attached to the hotel via an enclosed walkway. The nearby Power & Light District offers shopping, great restaurants, and a vibrant nightlife. 

Burnt ends — barbecue gold — are cut from the pointed end of a brisket and then barbecued to their charry best. (Or cut after cooking. Chef’s choice.) Fattier than the rest of the cut, they are commonly found inside sandwiches, baked beans, and grill masters named Bubba.

Kansas City is the City of Fountains. And every April, the fountains get turned on, on Fountain Day. The city is second to only Rome in the number of fountains.

The east side of Missouri has Anheuser-Busch, but this side has Boulevard Brewing Co., which is still locally owned. Boulevard was founded by John McDonald in 1989. Boulevard is the country’s 10th largest craft brewer. Biggest seller: Unfiltered Wheat.

The Jacksons’ (yes, those Jacksons) Victory Tour launched right here in Kansas City at Arrowhead Stadium in 1984. It was the last concert tour featuring all of the Jackson brothers together, including Michael. Tickets were $30 each, an unheard-of sum at the time. Fans went crazy for the moonwalk, songs from “Thriller” and the other brothers, too, presumably.

So come see all this in Kansas City, and attend an exiting, informative and fun-filled conference with colleagues from the nine-state MASFAA region.  More information will be forthcoming!