UTech, Ja Annual Report 2017-18

University of Technology, Jamaica “Pioneering Past; Bright Future ” ANNUAL REPORT 2017-2018 44 DEPARTMENT OF STUDENT FINANCING The Department of Student Financing, under the Division of Finance and Business Services provides a full range of student support services from registration and fee payment to Student Welfare and Scholarships. Services include Student Financial Services, Scholarships, Sponsorships and Student Welfare. For the 2017/18 fiscal year, $1.42 Billion Dollars (1,427,154,490.18) in student financial support services was provided through the Department of Student Financing. Of this figure, just under $251 Million Dollars was provided by the University and its partners as financial aid to students; in the form of scholarships, bursaries, grants, meal assistance and the Earn & Study Programme. The remaining $ 1,175,753,716.68 was garnered as public and private sponsorship to students for the payment of tuition, boarding and other school related expenses. See table 1.5 (below) for a detailed analysis of these figures. Student Financial Services Unit The core mandate of the Student Financial Services Unit is to provide efficient and effective customer support services for students and other stakeholders. These services surround the Student Life Cycle processes; which include Admissions, Enrolment, Registration, Examination and ultimately, Graduation. The service offerings provided fall in five main categories: y Financial Counselling – assisting students to successfully navigate the registration and fee payment requirements of the Student Life Cycle; as well as directing students to specific areas of financial support; y Payment Plan Facilities – needs assessment and development of personalized payment plans; aimed at allowing students to meet key deadlines established by the University; y Account Balance Inquiries – providing students/ sponsors with account updates and written statements of account; as well as addressing account discrepancies; y SLB Loan Processing– co-ordinating the loan processing verification exercise; which is carried out across all Colleges/Faculties for SLB sponsored students as part of the SLB/UTech, Ja. M.O.U; y Administrative Services – administering the financial clearance and account blocking processes; along with the attending processes for fee penalties, waivers and exemptions. Scholarships and Bursaries For the 2017/18 fiscal year, the Scholarship Portfolio maintained its upward trajectory with positive movements in both the number of awardees and the value of the awards. For the review period, the Department of Student Financing administered scholarships valuing just over $196 Million Dollars ($196,317,716.81), donated by 137 public and private sector donors. These scholarships and bursaries benefitted 1157 students from across the University at all campuses; and represented a noticeable increase of $45Million Dollars (30%) over the previous year. See table 1.1 for details This positive movement is predominantly based on the significant funding from a number of key public sector donors who are providing sector- specific scholarships through the Ministries of Health & Education. The aim of these scholarships is to train greater numbers of nurses and teachers in specific technical competencies to fill the ever- increasing gap which exists in critical areas where highly specialized competencies are required. These scholarships have been offered to students in FELS, COHS & FOSS for Nursing, Mathematics & Science as well as Technical Vocational & Educational Training (TVET).