R M A S FA A 2 0 1 2
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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R M A S FA A 2 0 1 2
Factors that Impact Packaging Method
Cost of Attendance
Student Demographics
Funds Available
Institutional Mission
Academic Programs Provided
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R M A S FA A 2 0 1 2
TRADITIONAL PACKAGING METHODOLOGIES
Gift Aid FirstCOA
- EFC
- Pell
= Remaining Need
- Scholarship/Grants
- Loans/Employment
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R M A S FA A 2 0 1 2
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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R M A S FA A 2 0 1 2
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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R M A S FA A 2 0 1 2
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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R M A S FA A 2 0 1 2
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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R M A S FA A 2 0 1 2
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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R M A S FA A 2 0 1 2
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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R M A S FA A 2 0 1 2
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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R M A S FA A 2 0 1 2
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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