Postsecondary Institutions and Price of Attendance in the ...
D. Cost of Attendance for the State’s Institutions
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D. Cost of Attendance for the State’s Institutions E. Stacking Policies of the State’s Institutions F. Cost of Courses Dropped Across the State G. Credit Hours Required for Degree Programs Across the State H. Exact Application of the Higher Education Funding Formulas, ACA 6-61-229 and 229 ADHE Agenda Items
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ADHE Agenda Items. D. Cost of Attendance for the State’s Institutions E. Stacking Policies of the State’s Institutions F. Cost of Courses Dropped Across the State G. Credit Hours Required for Degree Programs Across the State - PowerPoint PPT Presentation
Transcript of D. Cost of Attendance for the State’s Institutions
D. Cost of Attendance for the State’s Institutions E. Stacking Policies of the State’s Institutions F. Cost of Courses Dropped Across the State G. Credit Hours Required for Degree Programs Across the State H. Exact Application of the Higher Education Funding
Formulas, ACA 6-61-229 and 229
ADHE Agenda Items
An estimate of a student’s educational expenses, designed to provide an accurate projection of the reasonable costs for the period of enrollment. Allowable cost includes tuition and fees, room and board, books, supplies, transportation, disability expenses, loan fees, dependent care, study abroad expenses and miscellaneous expenses. Standard cost of attendance will vary for different categories of students. Institutions must maintain written documentation supporting the determined cost of attendance.
D. Cost of Attendance (COA) for the State’s Institutions
• COA varies from institution to institution and from student to student
• Variables:– Dependent/Independent Status– On/Off Campus– Living with or without parent (independent student)– In county or out of county resident (some 2-year
colleges)
D. Cost of Attendance (COA) for the State’s Institutions
2010-11 Average COAas reported in Fall 2010 survey
• 4-year public university• 2010-11 University Average COA for dependent student living
on campus - $16,950
• 4-year private university• 2010-11 University Average COA for dependent student living
on campus - $26,839
• 2-year public college• 2010-11 College Average COA for dependent student living
with parent - $11,046
D. Cost of Attendance for the State’s Institutions
•See handout•Public University COA ranges from $14,704 to $19,490•Private University COA ranges from $18,500 to $43,726•Community College COA ranges from $8,682 to $13,635•Cost of attendance includes: Tuition & fees, Room & Board, Books & Supplies, Transportation and Misc. Personal Expenses
• One state stacking policy• Each institution has variations in FA packaging policies
E. Stacking Policies of the State’s Institutions
A postsecondary institution shall not award state aid in a student aid package in excess of the cost of attendance. When a student receives a student aid package that includes state aid and the student’s aid package exceeds the cost of attendance, the institution shall repay state aid in the amount exceeding cost of attendance, starting with state aid received under the Academic Challenge Scholarship.
Stacking Definitions• Cost of Attendance - An estimate of a student’s educational
expenses that is designed to provide an accurate projection of the reasonable costs for the period of enrollment.
• State Aid – scholarships or grants awarded to a student from public funds, including without limitation the Academic Challenge Scholarship, DHE scholarship and grant programs, state general revenue, tuition, and local tax revenue.
• Student aid package – federal aid, state aid, and other aid a student receives for postsecondary education expenses– “Federal Aid” – scholarships or grants awarded to a student
as a result of the FAFSA, excluding the Pell Grant– “Other Aid” – scholarships, grants, tuition waivers, or
housing waivers awarded to a student from a postsecondary institution or private sources.
Institutions’ Financial Aid Packaging Policies
• Institutions develop the financial aid packaging policies for their campus.
• The philosophy behind packaging policies is to ensure consistent, equitable and fair distribution of financial aid funds to students.
• In most instances the institution awards Federal grants and scholarships first. State and private scholarships are awarded as the institution is notified. Students can request federal student loans and/or Work Study.
• ALL institutions must abide by the State Stacking Policy where aid must be reduced if a student’s financial aid package exceeds cost of attendance (COA).
• See Handout for each institution’s packaging policy.
• Caveat– Ws occur after all expenses of the course are
encumbered (faculty, facility assignment)
• Ws scattered among classes• ADHE formula currently calculated on 80% of
census date and 20% end-of-term (No ‘W’s or ‘I’s)
• Current state funding of budget need is 77%
F. Cost of Courses Dropped Across the State
Student Semester Credit Hours (SSCH)
UniversitiesTwo-Year Colleges All
Census Date 2,138,637 1,221,291 3,359,928End-of-Term 1,876,907 1,032,902 2,909,809Percent of Courses with I or W 12.2% 15.4% 13.4%
F. Cost of Courses Dropped Across the State
University Total Cost: $124,755,305 State Cost: $58,144,993 (46.6%)
Comm College Cost $49,168,752 State Cost: $27,738,803 (56.4%)
Total Cost: $173,924,057
G. Credit Hours Required for Degree Programs Across the State
• There are 504 active baccalaureate programs• 18% (92) require more than 130 credit hours• Typical range is 120-136 credit hours• Engineering and Education have the highest
number of programs with more than 130 hours
• See handouts – Program type– Institution
Baccalaureate Program areas requiring over 130 hours
H. Exact Application of the Higher Education Funding Formulas,
ACA 6-61-229 and 229 • See handout of theoretical distribution of $20 million in new dollars. – Purpose is to reward institutions that have high
course completions– Encourage student speed to graduation– ASUJ and UCA benefit from 80-20 distribution– PTC and NWACC benefit from 80-20 distribution
