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Packaging Financial Assistance

“ T O G I V E AWAY M O N E Y I S A N E A S Y M AT T E R A N D I N A N Y M A N ’ S P O W E R . H O W E V E R , T O D E C I D E T O W H O M T O G I V E I T , A N D H O W L A R G E A N D W H E N , A N D F O R W H AT P U R P O S E A N D H O W , I S N E I T H E R I N E V E RY M A N ’ S P O W E R – N O R A N E A S Y M AT T E R . H E N C E I T I S T H AT S U C H E XC E L L E N C E I S RA R E , P RA I S E W O RT H Y A N D N O B L E . ”

A R I S T O T L E

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Today’s Discussion

Factors impacting Decision to select a Method

Review of Historical Packaging Methods and Today’s Environment

Issues that Arise which impact Packaging

Discussion of what Works for you and on What you would like help

Open Give and Take Discussion

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Factors that Impact Packaging Method

Cost of Attendance

Student Demographics

Funds Available

Institutional Mission

Academic Programs Provided

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TRADITIONAL PACKAGING METHODOLOGIES

Gift Aid FirstCOA

- EFC

- Pell

= Remaining Need

- Scholarship/Grants

- Loans/Employment

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TRADITIONAL PACKAGING METHODOLOGIES

Self-Help First

COA

- EFC

- PELL

- Scholarship(s) [n-n based]

= Remaining Need

- Self-Help (Loan(s) and Empl

- Grant

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TRADITIONAL PACKAGING METHODOLOGIES

Equity Packaging

All students receive a certain level of gift aid regardless of source (sum of federal/state, private, school)

Assures all students start with a level playing field before self-help is awarded

Absolute equity – minimum value

Fixed percent equity - % of free money vs. COA

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ABSOLUTE EQUITYAE = $5,000 $10,000

$20,000

COA = 10,000 20,000 40,000

EFC - 5,500 5,500 5,500

Pell - 0 0 0

Schol - 0 2,000 12,000

Remain Need 4,500 12,500 22,500

Equity Grant 0 2,500 2,500

Self-Help 4,500 10,000 10,000

Unmet 0 0 10,000

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FIXED PERCENTAGE EQUITY

PE 50% 60% 70%

COA $10,000 $20,000 $40,000

EFC 5,500 5,500 5,500

Schol 0 2,000 12,000

Rem Need 4,500 12,500 22,500

Equity Grnt 0 4,500 10,500

Self-Help 4,500 8,000 10,000

Unmet 0 0 2,000

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Enrollment Management

Takes Fixed Percentage idea to another level by adding

in student characteristics beside financial need;

Impacts only institutional aid

Possible Characteristics

Academic Achievement Legacy Student

Geography Penetration Area

Ethnicity Academic Major

Gender

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EM VARIABLE PERCENTAGE

EM % 50% 60% 65%

COA $25,000 $25,000 $25,000

EFC 5,000 5,000 5,000

Need 20,000 20,000 20,000

Total Free 10,000 12,000 13,000

Self-Help 10,000 8,000 7,000

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Packaging Issues

Large External Resources - GMS VA benefits

after awarded but prior to or after disbursement

Change in family situation - divorce medical

Change in major (EM model)

Massive EFC change due to verification

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OPEN DISCUSSION

What model do you use & why

What would make it better (no more money)

Is Financial Need still relevant

What does the future hold

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