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Goals of Financial Aid

Goals of Financial Aid. Primary goal is to assist students in paying for college and is achieved by: Evaluating family’s ability to pay educational costs Distributing limited resources in an equitable manner Providing balance of gift aid and self-help.

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Goals of Financial Aid

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  1. Goals of Financial Aid Primary goal is to assist students in paying for college and is achieved by: • Evaluating family’s ability to pay educational costs • Distributing limited resources in an equitable manner • Providing balance of gift aid and self-help

  2. Distributing limited resources in an equitable manner Sources and Types of Aid JCU at a Glance Types • Gift (non-repayable: grants/scholarships) • Self-Help (repayable: loans/student employment) Sources • Federal • State • Institutional • Outside/Private

  3. State Support Historical Perspective Today’s Reality OCOG only of $2280 awarded to families making under $75K and EFC’s <2156 2010-11 $1848 2011-12 $1872 2012-13 $2280 2013-14 $2080 Ohio Student Choice Grant $640 • Awarded to all full-time OH residents at private colleges • Program ended in 2008-2009 Ohio Instructional Grant (OIG) • Awarded based on Total Income(<$30K) and number in family • Ranged from $5466-$1314 • Program phased out in 2008-2009 Ohio College Opportunity Grant(OCOG) • Created in 2006-2007 • EFC driven with ranges from $4992-$600

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