SB0603: Require Annual Report on State Scholarship Program Metrics
TN Gen. Assy Bill: SB0603
Bill Summary
- Annual Reporting Requirement: Mandates the Tennessee student assistance corporation to submit an annual report by July 31.
- Report Content: Must include data for each of the five immediately preceding academic years on:
- The amount appropriated by the General Assembly for the scholarship program.
- Total number of scholarship applications received.
- Total number of scholarship recipients.
- The average scholarship award amount.
- Target Audience: Reports are submitted to legislative committees with jurisdiction over postsecondary education.
- Legislative Impact: Amends TCA Title 49.
Risks & Considerations
- The requirement for the Tennessee Student Assistance Corporation to submit detailed annual reports on scholarship programs could increase transparency and accountability. However, it may also place additional administrative burdens on the corporation, potentially affecting its efficiency.
- Increased scrutiny of scholarship data might lead to policy changes that could impact the availability and distribution of scholarships, affecting students’ financial aid opportunities.
- Vanderbilt University may need to monitor these reports closely to anticipate changes in scholarship funding that could influence the financial aid landscape for its students.
- There is a potential risk that the findings from these reports could lead to legislative changes that might alter the criteria or funding levels for scholarships, impacting student enrollment and diversity.
Impacted Programs
- Vanderbilt’s Financial Aid Office will need to stay informed about any changes in scholarship funding and criteria to effectively advise students and adjust financial aid packages accordingly.
- The Office of Institutional Research may find opportunities to collaborate with the Tennessee Student Assistance Corporation in analyzing scholarship data to better understand trends and impacts on student demographics.
- Admissions Office might need to adjust recruitment strategies based on changes in scholarship availability and student financial needs.
Financial Impact
- Changes in scholarship funding and distribution could affect the financial aid packages offered by Vanderbilt, potentially impacting student enrollment and retention.
- Vanderbilt may need to explore alternative funding sources or increase institutional aid to compensate for any reductions in state-funded scholarships.
- There could be opportunities for Vanderbilt to advocate for policies that support increased scholarship funding, benefiting both the university and its students.
Relevance Score: 3 (The bill presents moderate risks involving compliance and potential changes in scholarship funding that could impact financial aid strategies.)
Key Actions
- Vanderbilt’s Financial Aid Office should evaluate the implications of the “Speak UP, Tennessee Scholarship Act” which provides scholarships for students demonstrating artistic excellence in spoken word poetry. This could impact the university’s recruitment strategies and financial aid offerings, particularly for students with artistic talents.
- The Tennessee Higher Education Commission changes, including the addition of the executive director to the selection process for chief executive officers, should be monitored by Vanderbilt’s administration. Understanding these changes will be crucial for aligning the university’s leadership strategies with state policies.
- Vanderbilt’s Office of Institutional Research should prepare to contribute to the required reports on tuition discounts and waivers. This will involve evaluating the utilization, state financial support, and student academic outcomes, which could influence future tuition policies and financial planning.
Opportunities
- The introduction of the “Speak UP, Tennessee Scholarship Act” offers an opportunity for Vanderbilt’s Department of English and Creative Writing to engage with high school students excelling in spoken word poetry. This could lead to partnerships and outreach programs that enhance the university’s visibility and attract talented students.
- The expanded authority of the Tennessee Higher Education Commission’s executive director presents an opportunity for Vanderbilt’s Leadership to engage more directly with state education policymakers. This could enhance the university’s influence in shaping higher education policies in Tennessee.
- By participating in the evaluation of tuition discounts and waivers, Vanderbilt can position itself as a leader in advocating for equitable access to higher education. This involvement could lead to policy recommendations that benefit both the university and its students.
Relevance Score: 3 (Some adjustments are needed to processes or procedures due to changes in scholarship opportunities and state commission roles.)
Timeline for Implementation
- Annual report submission due by July 31 each year.
Relevance Score: 1
Impacted Government Organizations
- Tennessee Student Assistance Corporation: This state-run entity is required to compile and submit an annual report detailing the scholarship program data, thereby increasing its accountability and oversight responsibilities.
- Legislative Committees with Jurisdiction Over Postsecondary Education: These committees will receive the report and use the data to evaluate and oversee scholarship funding, ensuring legislative oversight of postsecondary education initiatives.
Relevance Score: 1 (Only 2 key government organizations are directly impacted by this legislative amendment.)
Responsible Officials
- Tennessee Student Assistance Corporation – This corporation is mandated to compile and submit the required annual report detailing scholarship funding and award statistics to the legislative committees with jurisdiction over postsecondary education.
Relevance Score: 2 (The directive primarily affects mid-level management responsible for data collection and reporting within the corporation.)