Suny s response to the financial aid requirements in heoa
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SUNY’s Response to the Financial Aid Requirements in HEOA. SUNY Financial Aid Directors April 23, 2009 Dr. John Porter Associate Provost for Institutional Research & Enrollment Planning [email protected] Higher Education Opportunity Act. Signed into law August 14, 2008

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SUNY’s Response to the Financial Aid Requirements in HEOA

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Suny s response to the financial aid requirements in heoa

SUNY’s Response to the Financial Aid Requirements in HEOA

SUNY Financial Aid Directors

April 23, 2009

Dr. John Porter

Associate Provost for Institutional Research & Enrollment Planning

[email protected]


Higher education opportunity act

Higher Education Opportunity Act

  • Signed into law August 14, 2008

  • Some provisions must be implemented within a year - others within three years

  • HEOA expands the student financial aid information reported by campuses, including a ‘net’ price of attendance.

  • Colleges must provide students & parents a web-based “calculator” for estimating college costs


College navigator

College Navigator

  • HEOA requires NCES to implement a multi-year tuition & fee calculator on College Navigator by August 14, 2009

  • Colleges must implement a web-based cost calculator by August 2011

    • More refined than the national calculator

    • More complete information, e.g., living costs

    • Based on actual data, e.g., fees


Suny s response to the financial aid requirements in heoa

Formula for Calculating ‘Net Price’

Ave merit grants

Ave need grants

Cost of attendance

Number students receiving such aid


New financial aid disclosures 1

New Financial Aid Disclosures #1

  • This October institutions report cost of attendance for 2006-07 thru 2009-10 on IPEDS Institutional Characteristics (IC)

    • Tuition & fees (in-state/in-district), room & board, books & supplies, and transportation (HEOA says based ‘actual’ costs)

    • Reported separately based on living arrangement: on campus, off campus, & off campus w/ family ($ and n)

  • Next April institutions report expanded financial aid information for 2006-07 through 2008-09 on IPEDS Student Financial Aid (SFA)

    • Total grants during academic year - no loans or work

    • Sources of aid: Federal, State, & Institution only – no private sources

  • Cohort: In-state/in-district, first-time/full-time degree seeking


New financial aid disclosures 2

New Financial Aid Disclosures #2

  • Also, next April institutions report this information for Title IV aid recipients

    • By Income categories:

      • $0-$30,000

      • $30,001-$48,000

      • $48,001-$75,000

      • $75,001-$110,000

      • $110,001 or more


Watch lists

Watch Lists

  • DOE to publish ‘good’ & ‘bad guy’ lists

    • Top 5% tuition & fees

    • Top 5% average “net price”

    • Top 5% percentage increases in both

    • Also lowest 10% in both

  • Colleges on ‘bad’ list must submit plan to curb costs


Suny s response to the financial aid requirements in heoa

Other Financial Aid Disclosures


Implications for campuses

Implications for Campuses

  • Prior Year Data – make sure you can still access financial aid and housing data for 2006-07, 2007-08, and 2008-09.

  • National Net Price Calculation – will not reflect institutional uniqueness. Campuses should use IPEDS context boxes to add context to the data.

  • Institutional Net Price Calculator – will require institutional resources without system solution

  • Affordability Lists – you may be on one some day


Suny s response to the financial aid requirements in heoa

SpaceInventory

Human Resources

Course

“SIRIS”

SUNY’s New IR System

Bursar

Term/Section

1st Phase

2nd Phase

Existing Systems

Degree

Degree

Financial Aid

Applicant

Student


Financial aid module

Financial Aid Module

  • To meet IPEDS’ timetable, campuses need to sent the FA SUNY a file by January 2010

  • Committee is working to identify file specifications & requirements

  • Resources? Still uncertain. Phased process may be approach.


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