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 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

  • 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

  • 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


Formula for Calculating ‘Net Price’

Ave merit grants

Ave need grants

Cost of attendance

Number students receiving such aid


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

  • 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

  • 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


Other Financial Aid Disclosures


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


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

  • 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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