Simplifying financial aid for low-income students with innovative software

Vision

Students

Given an average income increase per student of $8,144 per year, Up$tart would generate millions of dollars in income for low-income students

Universities

For a university with 10,000 Pell Grant recipients, student income would grow $40,720,000, assuming a take-up rate of 50 percent

Higher Education

The 67 institutions of higher education with at least 10,000 Pell Grant recipients thus represent a significant untapped market

What We Do

By enabling students to complete their FAFSA, EITC, and SNAP at one time, we can increase student income on average $8,144 per year.

"In real time, our solution allows you to complete all three applications. Then we can help you understand which aid is available to you.

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The Problem

Low-income students and colleges face a common dilemma; securing additional funds to support their educational endeavors. While private universities count on endowments to defray rising costs, public institutions have resorted to tuition increases. Although escalating tuition at public universities has slowed, it continues to exceed inflation. Since 2000, the costs of community college increased 28 percent and public universities 54 percent. In the past year, tuition, fees, plus room and board at four-year public institutions nationwide increased 3.1 percent, to $20,770.

OUTCOMES

Up$tart’s outcomes are two-fold

First, integrating applications for social benefits for low-income students adds to their income and stabilizes family finances. This contributes to an increase of student retention by 5 percent. Beyond benefiting colleges and universities, benefit application integration increases federal revenues to students’ communities and states.

Second, Up$tart software provides training opportunities for NNMC students who will introduce benefit application integration to Hispanic-serving educational institutions in the Southwest. Versed in Up$tart software, NNMC graduates will be sought after employees at college and university financial aid offices.

Check the Facts

University and Community Benefits

The cost of Up$tart to colleges and universities is exceeded during the first year of acquisition. Assuming increased student retention of 5 percent at an average social benefit increase of $8,144/year, participating institutions recover the costs of Up$tart in the first year.

Increased student retention of 5 percent

By complementing FAFSA with EITC and SNAP applications, communities and states in which students reside benefit as well. Assuming a $8,144/year per student income increase by bundling benefits, Up$tart generates significant income for localities and states, typically in the tens of millions of dollars.