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26
June 14, 2024
Episode 26: Addressing Dropout Risk: Academic and Financial Support for Students

Addressing Dropout Risk: Academic and Financial Support for Students

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About the Episode

About the Episode: 

In this episode of the EduData Podcast, hosts Jamie and Timothy explore a case study on late student departures at a four-year public university in the Midwest. The study focuses on factors contributing to dropout risk like total tuition, and GPA on student retention, providing insights and recommendations for academic and financial support.

Link to Case Study

Key Takeaways

  • Dropout Risk Trends: While dropout risk is highest during the first year of college, it spikes again after students have earned 100 credits, with a significant number leaving after 115+ credits due to financial strain.
  • Financial Pressure is a Key Factor: For students with over 140 credit hours, total tuition paid becomes the most important predictor of dropout risk, overtaking GPA and other academic factors.
  • Retention Strategies:
    • Academic support for students with 50–100 credits can address issues earlier.
    • Financial literacy programs and targeted scholarships for students nearing graduation can mitigate late-stage departures.
    • Institutions can leverage AI to deliver tailored interventions at critical points in the student lifecycle.

Episode Summary

Surprising Patterns in Dropout Risk

Jamie and Timothy delve into the Sightline case study’s key finding: while dropout risks typically decline after the first year, they increase again after students reach 100 credits. This counters the conventional wisdom that students are almost guaranteed to graduate once they pass their sophomore year.

Factors like mounting tuition costs, the financial burden of extended study, and the psychological strain of seeing peers graduate contribute to these late-stage departures. For students who change majors or retake classes, the cumulative effect of accruing excess credits and higher tuition fees becomes overwhelming.

The Financial Burden of Late Dropouts

The discussion highlights the significant role of total tuition paid as a dropout predictor for late-stage students. Sightline’s findings reveal:

  • For students with fewer than 20 credits, tuition concerns are negligible, accounting for only 10% of dropout risk.
  • For students with over 140 credits, tuition importance skyrockets to over 60%, surpassing GPA concerns.

This aligns with the broader context of rising tuition costs, which have increased far above inflation rates over the last two decades. The hosts emphasize that institutions must address this growing financial strain through better support systems.

Strategic Retention Efforts

Based on the study’s insights, Jamie and Timothy outline actionable strategies for higher education professionals:

  1. Targeted Academic Support: For students with 50–100 credits, focus on providing academic retention resources like tutoring, advising, and major-specific guidance.
  2. Financial Literacy Programs: Help late-stage students navigate loan repayment, budgeting, and financial planning to reduce dropout risks associated with money stress.
  3. Retention-Focused Scholarships: Offer scholarships tied to academic performance or progress toward degree completion, especially for students in their final year.
  4. AI-Driven Interventions: Use predictive analytics to identify at-risk students based on patterns in GPA, tuition costs, and credit accumulation, then deploy personalized support.

Connect With Our Co-Hosts:

Jamie Boggs
https://www.linkedin.com/in/jamiewboggs/

Timothy Davis
https://www.linkedin.com/in/davis-timothy/

About The Enrollify Podcast Network: The EduData Podcast is a part of the Enrollify Podcast Network. If you like this podcast, chances are you’ll like other Enrollify shows too!  

Some of our favorites include Generation AI and The Higher Ed Geek.

Enrollify is made possible by Element451 —  the next-generation AI student engagement platform helping institutions create meaningful and personalized interactions with students. Learn more at element451.com

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People in this episode

Host

Jamie Boggs is a Senior Engagement Analyst at Element451 and host of EduData.

Timothy Davis is an Engagement Analyst at Element451 and host of EduData.

Interviewee

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