2022-2025 Strategic Plan

The Michigan Student Financial Aid Association (MSFAA) is driven by its mission statement and guiding principles.  This strategic plan is intended to help further guide MSFAA through decisions and practice that support both the aforementioned.  This Plan will reflect throughout, the mission of MSFAA through goals intended for implementation by the board over the next 3 years.  This plan should be reviewed annually and discussed with each new Board of Directors on an annual basis so that all MSFAA leaders are guiding the association in support of the goals here contained.  Decisions made by the board and MSFAA Committees should reflect and support the goals of this Long Range Strategic Plan (LRSP).

MSFAA Mission

The mission of the Association is to enhance student financial aid awareness, to promote student access to postsecondary education and to provide professional development opportunities for its members.

Long Range Strategic Plan responsibility

The Michigan Student Financial Aid Association views its membership to be an important asset to the community and to the State of Michigan.  In respecting the individuality of each member, we are committed to maintain an open and inclusive environment at Association functions.  It is important to MSFAA that its members participate in activities free from all forms of discrimination and harassment on the basis of race, religion, creed, color, age, sex, sexual orientation, national origin, ancestry, marital status, weight, height, medical condition or disability.

Guiding Principles, Strategic Goals and Objectives

I: Outreach and Access: One of the core mission values is to promote student access to post-secondary education. 

Objective: Cultivate relationships with student support partners in deliberate, sustained and innovative ways. MSFAA wants to create more intentional support with High School Counselors and/or other college access support representatives at high schools.

• Research and collect data to propose support initiatives based on high school representative needs 

• Report annual progress on data collection to board with recommendation

II. Professional Development:

Objective: Provide relevant, innovative and distinctive professional development opportunities.

Strategic Goals:

• Research and collect data to propose support initiatives of financial aid offices and members based on industry changes and current COVID crisis 

• Increase number of MSFAA members with NASFAA credentials and CFAA by 10%

III. Leadership Development:

Objective: Develop future leaders for the profession and association, regardless of years of experience in the profession.

Strategic Goals:

• Increase participation of new members in leadership opportunities by 15% over three years

• Offer one dedicated Leadership Trainings each year in addition to the Annual Training Conference

• Measure participation of leadership participants in MSFAA opportunities to establish baseline and increase engagement after leadership events

IV. Diversity and Inclusion:

Objectives:  Promote a culture of diversity and inclusion with intentionality around a leadership pipeline and in all trainings/events. 

Strategic Goals: 

• Place MSFAA’s commit to Diversity and Inclusion as an organization at the forefront of all activities. With this in mind, create a MSFAA Diversity and Inclusion statement to be added to values statements and mission. Commit to review and maintenance of statement. 

• Evaluate attendance and involvement for the intentional DEI Training with the intention to adjust to data received. 

V. Effective Governance

Objective: Secure and sustain MSFAA’s future through effective governance.

Strategic Goals:

• Ensure that MSFAA Bylaws reflect the vision, mission, and values of the Association and support the viability of the organization, including periodically updating policies and procedures to reflect the MSFAA Bylaws. 

• Actively engage in a systematic review of all current activities, products, and services utilized. 

• Maintain and develop all activities, products, and services within the framework of the associations approved financial policies.

• Maintain effective and easily accessible committee meeting minutes, committee chair checklists, committee job descriptions, suggested task timelines, and protocols for transitions from committee chairs and executive board members. 

• Create easily accessible and thorough MSFAA archive