| With the goal of determining how institutional financial aid practices affect student enrollment beyond the first year, this study examined the decisions first-year college students make as a result of the financial aid packages they receive. In particular, this study analyzed the effect of students' family finances, perceptions of likelihood of college completion, financial aid packages, and level of comfort with campus resources on these decisions. The sample consisted of twelve first-year college students, as the freshman year is most telling of future academic success. The setting was a small, selective, private liberal arts college. The respondents had already proven, through having been admitted, to be education-driven, and this academic achievement helped dispel assumptions, discussed in the literature review, about students' lack of desire for or valuing of higher education in regard to their enrollment decisions.;This study found that family served as a motivating factor and a financial resource. The respondents felt well prepared for college academics and were apprehensive about accepting student loans. They also considered completing at least some coursework at another campus in response to their financial circumstances, which previous research has shown may be detrimental to eventual degree attainment. In addition, this study found students are not knowledgeable about the components of their own aid packages and are not comfortable seeking help on campus. A central finding of this study is that, in order to maximize the probability that students make informed decisions regarding both aid and enrollment, student services providers should seek to integrate resources and broaden communication channels among those who interact with first-year students. |
