packaging financial aid n.
Download
Skip this Video
Loading SlideShow in 5 Seconds..
Packaging Financial Aid PowerPoint Presentation
Download Presentation
Packaging Financial Aid

Loading in 2 Seconds...

play fullscreen
1 / 39

Packaging Financial Aid - PowerPoint PPT Presentation


  • 104 Views
  • Uploaded on

Packaging Financial Aid. F. Duane Quinn Financial Aid Specialist duane201@charter.net. Review. Cost $24,000 F.C $ 8,000 Need $16,000. Review. $24,000. cost. Review. cost. Need = $16,000. $24,000. $ 8,000. F. C. Review. Total aid = $16,000. cost. $24,000.

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about 'Packaging Financial Aid' - aulani


An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
packaging financial aid

Packaging Financial Aid

F. Duane Quinn

Financial Aid Specialist

duane201@charter.net

review
Review

Cost $24,000

F.C $ 8,000

Need $16,000

review1
Review

$24,000.

cost

review2
Review

cost

Need = $16,000

$24,000

$ 8,000.

F. C.

review3
Review

Total aid = $16,000

cost

$24,000

grant = $11,000 meet full need

$ 2,000

work

$3,000

loan

$ 8,000.

F. C.

three general categories of aid
Three General Categories of Aid
  • Merit Aid:
    • Based upon a “quality”
    • Colleges
    • Web Searches
  • Need Based Aid
    • Family economic circumstances
    • Most College Aid (Grants)
    • Most Federal /State Aid (Grants , work, subsidized loans)
three general categories of aid1
Three General Categories of Aid
  • Non-need based aid
    • Family / Student notshow economic eligibility- but not require a “quality”. Entitlement aid.
      • PLUS loans
      • Unsubsidized student loans
      • Vet. / Military benefits
      • Tax credits
absolute merit award
Absolute Merit Award

Merit Awards / Merit with NeedGoal: Attract Students; Influence Choice

Cost: $24,000

EFC: $28,000

Need $ 0

merit awards merit with need goal attract students influence choice
Merit Awards / Merit with NeedGoal: Attract Students; Influence Choice

$24,000.

cost

FC = 28,000

merit awards merit with need goal attract students influence choice1
Merit Awards / Merit with NeedGoal: Attract Students; Influence Choice

$24,000.

cost

Merit Grant

$18,000

merit awards merit with need goal attract students influence choice2
Merit Awards / Merit with NeedGoal: Attract Students; Influence Choice

$24,000.

cost

Unsubsidized Loan

Up to $6,000.

Merit Grant

$18,000

merit awards merit with need goal attract students influence choice3
Merit Awards / Merit with NeedGoal: Attract Students; Influence Choice

“It is hypocritical to advocate of more federal funding for needy students when we have funds available for students without need”

George AllanNo Need for No NeedJournal of Student Financial AidFall, 1988

Riggs, Henry E. (1994). Are Merit Scholarships Threatening the Future of Private Colleges? Trusteeship, Vol. 2, No. 3, pp. 6-10.

example
Example

Cost $24,000

F.C $ 8,000

need $16,000

meet full need goal provide access and choice
Meet Full NeedGoal: Provide Access and Choice

cost

$24,000

need = $16,000

$ 8,000.

F. C.

meet full need goal provide access and choice1
Meet Full NeedGoal: Provide Access and Choice

cost

$24,000

need = 13,000

$3,000

loan

$ 8,000.

F. C.

meet full need goal provide access and choice2
Meet Full NeedGoal: Provide Access and Choice

cost

$24,000

need = $11,000

$ 2,000

work

$3,000

loan

$ 8,000.

F. C.

meet full need goal provide access and choice3
Meet Full NeedGoal: Provide Access and Choice

Total aid = $16,000

cost

$24,000

Grant

$11,000

$ 2,000

work

$3,000

loan

$ 8,000.

F. C.

meet of need goal maximize awards and resources
Meet % of NeedGoal: Maximize Awards and Resources

Total Aid = $13,000

cost

$24,000

Gap = 3000

Grant

$8,000

$ 2,000

work

$3,000

loan

$ 8,000.

F. C.

preferential differential goal institutional goals are primary influence enrollment decisions
Preferential / DifferentialGoal: Institutional Goals are Primary Influence Enrollment Decisions
  • PreferentialThe interest of the student is above the institutional interest.e.g.: Lower loans to students majoring in public service fields or low income
  • DifferentialThe interest of the Institution is above the interest of the studente.g.: Higher grants to high SAT scores
leveraging merit within need
Leveraging:Merit within need

FA Rank 4

FA Rank 10

$24,000

Need=$16,000

FC=$8,000

leveraging merit within need1
Leveraging:Merit within need

FA Rank 4

Total Aid = 7,000

FA Rank 10

Total aid = $16,000

$24,000

Grant

$16,000

Unmet need

Gap -$9000

Work - $3000

Loans -$4000

Need=$16,000

FC=$8,000

when is need need federal methodology
When is Need…. Need???Federal Methodology

cost

$24,000

Need = $16,000

$ 8,000.

FAFSA

FM.

when is need need institutional methodology
When is Need….Need??Institutional Methodology

cost

$24,000

Need = $12,000

$12,000

PROFILE IM

FAFSA.

when is need need
When is Need….Need??

IM

FM

$24,000

Need

$16,000

Need

$12,000

$12,000

$ 4,000

$ 8,000

and just when you think you understand student loans
And Just when You Think You Understand: Student Loans
  • Subsidized Loan
    • Interest paid
    • awarded on need
    • Maximums based upon year in school
  • Unsubsidized Loan
    • Interest accrues
    • Not required to have need
    • Maximums based upon year in school
leveraging merit within need2
Leveraging:Merit within need

FA Rank 4

Total aid = $7,000

FA Rank 10

total aid = $16,000

$24,000

Grant

$16,000

Unmet need

Gap

work

Loans

subsidized

Need=$16,000

FC=$8,000

leveraging merit within need3
Leveraging:Merit within need

FA Rank 4

Total aid = $7,000

FA Rank 10

Total aid = $19,000

$24,000

Grant

$16,000

Unmet need

Gap

work

Loans

Need=$16,000

Loan

unsubsidized

FC=$8,000

recap
Recap

$16,000

$13,000

$16,000

$7,000

$12,000

$19,000

the financial aid package
The Financial Aid Package

OUTSIDE SCHOLARSHIP $$$$$$

$ 3000.

cost

$24,000

grant = $11,000 meet full need

$ 2,000

work

$3,000

loan

$ 8,000.

F. C

(FM).

the financial aid package1
The Financial Aid Package

cost

$24,000

grant = $11,000 meet full need

$ 2,000

work

$3,000

loan

$ 8,000.

$$$

F. C

(FM).

the financial aid package2
The Financial Aid Package

cost

$24,000

grant = $11,000 meet full need

$ 2,000

work

$3,000

loan

$$$$$

$ 8,000.

F. C

(FM).

the financial aid package3
The Financial Aid Package

cost

$24,000

grant = $11,000 meet full need

$ 2,000

work

$3,000

loan

$ 8,000.

F. C

(FM).

the financial aid package4
The Financial Aid Package

cost

$24,000

unmet need “GAP”

$3,000

grant = $8,000

$2,000

work

$3,000

loan

$ 8,000.

F. C

(FM).

the financial aid package5
The Financial Aid Package

cost

$24,000

unmet need “GAP”

$3,000

$$$$

grant = $8,000

$2,000

work

$3,000

loan

$ 8,000.

F. C

(FM).

overawards governed by fm not im
Overawards:Governed by FM, not IM

IM

Total aid = $12,000

FM

Total aid = $16,000

$24,000

Need

$16,000

Need

$12,000

$12,000

$ 4,000

$ 8,000

how do college s adjust awards
How Do College’s Adjust Awards?
  • Institutional Policy... will differ from school to school
  • Must have a policy
  • Available in writing to student at time of award
how do colleges adjust
How Do Colleges Adjust?
  • Allow Outside scholarships to fill “gap”.
  • 50% from “self-help” and 50% from Institutional grant.
  • Reduce Institutional grant dollar for dollar.
  • Some combination of all of these.
tips on negotiation
Tips on Negotiation:
  • There is a difference between an “appeal” and “negotiation”.
  • Differences in awards from schools of similar cost can be questioned.
  • The “ I would not join a club that would have me as a member” rule.
  • Financial Aid Officers are human too!!!