UAlbany Lands $4M DOE Grant to Improve Completion Rates, Reduce Financial Barriers for Students

By Amy Geduldig

ALBANY, N.Y. (Sept. 17, 2024) — UAlbany has been awarded a $4 million Postsecondary Student Success Program (PSSP) grant from the U.S. Department of Education to increase retention, persistence and graduation rates for its students. 

The grant will be used to launch UAlbany FACTS (Financial Assistance Coaching & Tools for Success) — a program run by the Office of Academic Innovation & Student Success (AISS) to assist students in developing realistic and individualized financial plans that will reduce financial barriers and allow students to focus on their academic success.  

UAlbany FACTS builds on AISS’s comprehensive student success model by expanding coaching and essential resources that help students navigate complex financial processes associated with funding their higher education goals.  

“Too often, financial issues stand in the way of a student’s success in higher education. The University at Albany’s new FACTS program will empower students to succeed with personalized financial planning and coaching and will enable UAlbany to live out our mission to serve as an engine of opportunity,” said UAlbany President Havidán Rodríguez. “We are grateful to the Department of Education’s Postsecondary Student Success Program for its support of this important work, and we look forward to exploring local and national partnerships to expand this program’s impact and ensure its long-term sustainability.” 

Key features of the UAlbany FACTS program include: 

• Personalized financial coaching: Students will be paired with dedicated financial coaches who will help them develop customized financial plans, navigate financial aid processes explore scholarship, grant and employment opportunities. 
• Comprehensive holistic support: Financial coaching will be embedded into UAlbany’s broader Student Success Model, ensuring that students receive coordinated academic, financial and personal support throughout their time at the university. 
• Targeted Interventions and Proactive Support: The program will focus on critical financial milestones, such as FAFSA completion, scholarship applications, hold resolution and early registration, helping students overcome barriers to financial stability. 
• Data-Driven Outcomes: A rigorous evaluation process will assess the impact of financial coaching on key student success metrics such as retention, credit accumulation and on-time graduation, contributing to long-term institutional change. 

“Financial difficulties are consistently cited by our students as one of the top reasons for withdrawing from the University,” said JoAnne Malatesta, dean of undergraduate education and vice provost for academic innovation and student success. “This grant will allow us to offer expanded success coaching that directly addresses financial barriers and enables students to stay on track academically to complete their degrees.” 

“The new program is an essential next step in UAlbany’s mission to provide equitable access to education and improve student outcomes.” said Provost Carol Kim. “Nearly 50% of UAlbany’s undergraduate population is from traditionally underrepresented backgrounds and 45% of students are Pell Grant-eligible.  By improving financial literacy and reducing financial holds, the program will empower students from all backgrounds to focus on their academic goals without the burden of financial uncertainty.” 

Financial support is a core but often underappreciated element of student success. The integration of financial coaching into the existing Student Success Team, which already provides students with dedicated academic advisors and resources that help address academic barriers, will expand on existing collaborations with Financial Student Services. Financial coaches will work closely with colleagues in the Office of Financial Aid to help students develop individualized financial plans, access available aid and connect with on-campus employment opportunities. 

"We are excited to build on the strong collaborations we have with our essential campus partners in Financial Student Services. These partnerships enable UAlbany to provide students with the financial guidance they need to remove a major barrier to success and open new pathways for them to achieve their academic and personal goals,” said Malatesta. “The momentum of our work over the last five years positions us exceptionally well to implement and scale this project within the student success infrastructure and to position our diverse student population to thrive, persist and graduate.” 

As one of the most diverse public R1 institutions in the United States and a leader in promoting student success, the University at Albany is well-positioned to implement and scale this critical program. The expansion builds on successful initiatives like UAlbany’s microgrant program and TAP (Tuition Assistance Program) intervention model, which have helped students resolve financial holds and meet New York State aid eligibility requirements. The addition of dedicated financial coaches to UAlbany’s established support team elevates the university’s commitment to student success. 

In 2019, AISS introduced a large-scale Student Success Model, whose powerful components span six key areas: academic momentum, academic support, well-being, purpose and belonging, campus collaboration and financial stability. The UAlbany FACTS Program is the latest interlocking part of this larger connected network that is driving student success and will coordinate with holistic advising, Academic Recovery, the First Year Experience and other student success initiatives to strengthen and enhance the student experience.   

“The FACTS Program will help alleviate financial stress for our students and provide them with critical tools for success. We are confident that this support, in turn, will help center our students’ academic success and their ability to stay enrolled and complete their degrees at UAlbany,” Kim said. 

The PSSP grant reflects UAlbany’s ongoing commitment to student success, diversity and inclusion, and aligns with the university’s broader mission to empower students from all backgrounds to excel and lead in their chosen fields.