EFFECTIVE FOUNDATIONAL SUPPORT SUNYOpt Insight: Student Indebtedness The costs of optometric education are increasing while federal and state funding for financial aid in graduate school has significantly decreased over the past decade. The average level of indebtedness for students who borrow is also trending upward. Here, Mr. Vito J. Cavallaro, the College’s assistant vice president for student affairs and director of financial aid, breaks down trends in financial aid and how students may minimize debt. Why is SUNY Optometry’s overall indebtedness level lower than the national average for optometry programs? New York State resident tuition is still an excellent value compared to private schools and keeping costs down is part of SUNY Optometry’s long-range plan and one of our institutional goals. Out-of-state students in their second year may qualify for resident tuition if they meet certain requirements. What is the College doing to help students surmount the challenges of indebtedness in the areas of recruitment, financial aid and matriculation? Students are focusing on return of investment and comparing costs, quality of education and scholarships offered by their top school choices. Although student indebtedness continues to increase, the College’s default rate is at 0 percent. Each interviewing student receives a 20-minute counseling session about financial aid and housing and the importance of sound decision-making. Once students are enrolled, they receive debt management sessions to keep them informed. Our Smart Track financial literacy website also helps with banking, budgeting and borrowing. What tips would you offer to students who are looking to keep the costs of matriculation low? It is important that students try to limit their living expenses as much as possible. And the better a student does academically, the better the chance for scholarships. The market for top applicants has become more competitive with many schools using scholarships or tuition discounts to attract top-tier students. And how can they maximize their earning potential after graduation? Doing a residency gives new graduates more expertise, which may help them earn more in a niche practice. But this is dependent on how they market themselves and negotiate their salary. “If you live like a doctor while you are a student, you will live like a student when you are a doctor.” – Vito Cavallaro 2018 Scholarship Recipients Constantinos Bacas Jessica Behringer Jacqueline Benoit Gail Bojarski Anthony Boyd Calvin Chan Suzy Shuyi Chen Junn Cho Ha Eun Chung Sergio Cisneros Stefanie Clendaniel Amanda Crane Kyra Dorgeloh Raymond Farmer Brooke Goonetilleke Ivanna Grynyk Crystal Guo Rebecca Heaps Prissilla Issa Alicia Jones Nadia Khan Holly Knoechel Melody Kordnaij Aileen Lee Sam Lee Annie Liang Julie Lin Peiwei Lo Rhea Magee Julia Mai Rose Mandel Erica Mehallow Nicole Mercho Michael MortonRollins Monia Papinski Max PaschallZimble Nichole Pollard Nicole Poon Jared Rahn Cledis Ramirez Siyun Ren Sofa Ribolla Lauren Rosato Andrew Rouse Alina Sample Stephanie Schwartz Aviela Segev Diana Serdah Julie Song Brandon Tran Jeremy Tsui Lily Wang Osasenaga West-Erhabor Carlos Woc Stephanie Yu $648,850 Scholarships/Grants, 2017-18 2018 ANNUAL REPORT 33
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