Worcester Business Journal

wbjournal.com | December 11, 2023 | Worcester Business Journal 11 funding will remove deterrents keeping students from applying or attending college. "e cost of obtaining a post- secondary education, all over the country, but especially in Massachusetts, has been a privilege for so long. It's been a privilege to apply for college even, let alone attend," she said. e funding will enable MWCC to help create a ripple effect extending beyond the educational institution, she said. "Expanding aid will help Mount Wachusett positively impact the social and economic development in North Central Massachusetts for generations," said Rosbury-Henne. W and beyond. "Any college or university that receives financial aid from the government knows that it is never guaranteed for more time that the legislature passes it for, but Massachusetts has a long history of funding financial aid for multiple years," he said. Broader implications When funding is broadened, the university does see an impact on enrollment, Forsythe said, but it is soon to say what this expansion might change in terms of demographics. It has made a large swath of formerly ineligible students open to aid, potentially putting higher education on the radar for some for the first time, said Godes. "Any time that they expand funding for students, it is a good thing," said Luis Pedraja, president of Quinsigamond Community College in Worcester. It is exciting to see the state prioritizing making higher education more affordable, and thereby accessible, said Pedraja. e move has broader implications than just the financial landscape for higher education. "If we are going to be competitive in attracting business and economic growth, we need to invest in our students," said Pedraja. As workforce needs expand, particularly following desired growth in the life sciences industry in Central Massachusetts and a planned continuation of similar developments, trained and educated talent will be at a premium. Enabling students to afford to gain that experience is essential, Pedraja said. If Massachusetts is to be competitive in technology, biotechnology, and attracting and retaining businesses, this kind of investment in students and education is essential, he said. For students, it's a moment to take advantage of, Pedraja said. 4,883 (10% drop). e additional financial resources could enable some students to transition from part-time to full-time enrollment, Godes said. Previously, part-time students were not eligible for MassGRANT or MassGRANT Plus funding, but they are under the expansion of the program. The need for continued funding However, the temporary nature of the funding makes it difficult to plan in the long-term. e $62 million is guaranteed only for the current academic year, impacting students currently enrolled in college, and is not guaranteed as a line in the state budget beyond this cycle. It's atypical to see this level of funding expansion in the midst of an academic year, said Denise Brindle, director of financial aid at Fitchburg State University. Students who have already paid tuition and are now eligible to have it covered will be reimbursed. Some students may not have enrolled for the year, thinking the financial aspect was out of reach, she said. e limited term of the funding will pose some difficult decisions for students as they plan for a four-year academic degree without knowing what exactly the next year will bring in terms of funding, said Brindle. e question the financial aid office at Fitchburg State and other universities now pose to the Office of Student Financial Assistance, part of the Massachusetts Department of Higher Education, is what can be expected going forward. "We've said, 'is is great. Can we count on it for our students for next year?'" said Brindle. Still, Brindle sees no negative to the funding for this year. At Worcester State, Forsythe is optimistic about the continuation of the funding into the next academic year "is is a great time to make your hopes and dreams of getting a degree happen," said Pedraja. Similarly to the state universities in Central Massachusetts, QCC and MWCC are at their lowest full-time equivalent enrollment points in the DOHE's data dating back to fiscal 2014. QCC has enrollment of 3,794 in fiscal 2023, an 18% drop since fiscal 2020; and MWCC has enrollment of 1,751, a decrease of 24% since fiscal 2020. Prospective students have already begun reaching out to Mount Wachusett, said Rosbury-Henne. Students and potential students oen equate financial aid with student debt, Rosbury-Henne said. She believes the Warehouse Storage For Rent Asset Management Program Office and Lab Moving WE KNOW STORAGE!!!! thestoragecompany.com Central Mass. enrollment Full-time equivalent enrollment at all five state universities and community colleges in Central Massachusetts hit a 10-year low in fiscal 2023. 2014 2020 2023 School enrollment enrollment enrollment Worcester State University 5,437 5,160 4,418 Framingham State University 5,737 4,894 3,621 Fitchburg State University 5,074 5,398 4,883 Quinsigamond Community College, Worcester 5,691 4,616 3,794 Mount Wachusett Community College, Gardner 3,072 2,318 1,751 Note: All years are fiscal years. Source: Massachusetts Department of Higher Education Denise Brindle, Fitchburg State director of financial aid Luis Pedraja, QCC president Total U.S. student loan debt Source: Education Data Initiative, 2023 $0.86 trillion $1.05 trillion $1.24 trillion $1.41 trillion $1.57 trillion $1.69 trillion $1.76 trillion 2010 2012 2014 2016 2018 2020 2022 Year Debt

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