By Melissa Johnson, The Paper of Montgomery County
With recession shadowing the stock market, Indiana colleges remain optimistic about future enrollments.
"Currently, the economic downturn and the overall drop and volatility in the stock market have not had an impact on Wabash (College) enrollment," Wabash College Director of Financial Aid Clint Gasaway said.
Although banks have tightened requirements for private loans, Gasaway said student and parent loans still are available through Wabash College and the U.S. government.
"Students receiving federal financial aid in the form of grants and loans and/or receiving state grants will continue to receive their funding," said IUPUI Executive Director of Enrollment Services Dr. Rebecca E. Porter, who also serves as IUPUI Associate Vice Chancellor for Student Services.
Students receiving scholarships from Indiana University or IUPUI will continue to receive their funding. Students who need private loans may find that fewer lending institutions are providing the loans, but there are still a sufficient number of choices."
According to www.financialaidfinder.com, college investment plans and college savings plans have decreased 9 percent since the last quarter. "It stands to reason, though, that aggressively invested (college savings and investment plans) will be seeing similar losses to the rest of the Dow Jones," the web site states. "Since its record high one year ago Oct. 9, the Dow Jones has lost over 40 percent of its value."
With students possibly looking for less expensive education, schools similar to Ivy Tech and IUPUI could see increases in enrollment, but "it's too soon to tell," Porter said.
"In the past, economic downturns have encouraged individuals to seek additional education to provide them with improved job prospects," Porter said. "With the shifting information on the current economic situation, we will have to wait to see what will occur."
Representatives from IUPUI, Wabash College and Ivy Tech College said enrollments this year have been the highest thus far.
"I met last week with financial aid directors from a number of similar private liberal arts colleges in Indiana, Michigan, Ohio and Pennsylvania for our annual meeting," Gasaway said. "The consensus around the table was that students still have access to higher education and that they should proceed in pursuing their educational goals."