Liquidate Perkins Loan Program :: PIP System (SUNY Orange)

Liquidate Perkins Loan Program Print All

Initiative Title	Liquidate Perkins Loan Program
Submitted in Previous Year(s)	No
Critical Information, Notes, Justification, Rationale	It has been two years since the College has awarded any Perkins Loans to students and our cohort default is higher than the acceptable rate. Liquidating the program will eliminate monthly fees being paid to a third party servicer, staff member who currently oversees this program will have time to attend to other duties, and the school will no longer have to worry about returning funds annually that are not being used.
Consequences of this initiative not being funded	The College will be fined for having a large cohort default rate. Human resources are being underutilized and money is being wasted.
Department Goals	Liquidate Perkins Loan Program
Programs
Locations
Estimated Completion Date	03/31/2017
Will this initiative span multiple budget years?	No
Importance	Low
Funding Source
Created	12/01/2016 2:58 pm
Updated	12/12/2016 2:44 pm

Institutional Goals

Goal	How will the initiative support this institutional goal?
STRATEGIC PLAN 2015-2020 PRIORITY IV: Efficient and Effective Operations: We will anticipate and adapt to changing economic realities while maintaining the infrastructure and resources necessary to foster innovation and develop & deliver high quality programs and services. c: Review and revise allocation methods to ensure appropriate investment in people, services, facilities, & technologies.

Action Steps

Action Step	Responsible Party	Order

Expected Outcomes

Outcome	Order
Better use of College resources.	1

Assessment Methods

Method	Description	Other Method	Responsible Party
Other	Enter other assessment method	Once the Program is liquidated, there will be no additional assessment needed	Student Accounts

Resources

INITIAL YEAR COST:	$0.00
RECURRING COST:	$0.00

Equipment

Need	Cost (Initial/Recurring)	Supporting Departments
TOTAL:	$0.00 / $0.00

Facility

Need	Cost (Initial/Recurring)	Supporting Departments
TOTAL:	$0.00 / $0.00

Supply

Need	Cost (Initial/Recurring)	Supporting Departments
TOTAL:	$0.00 / $0.00

Staffing

Need	Cost (Initial/Recurring)	Supporting Departments
TOTAL:	$0.00 / $0.00

Training

Need	Cost (Initial/Recurring)	Supporting Departments
TOTAL:	$0.00 / $0.00

Marketing

Need	Cost (Initial/Recurring)	Supporting Departments
TOTAL:	$0.00 / $0.00

Other

Need	Cost (Initial/Recurring)	Supporting Departments
TOTAL:	$0.00 / $0.00

Prioritization

This initiative is not ready for prioritization.

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Assessment

Date	Department Name	Status	Cost to Date	Funding Source
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