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Packaging Financial Assistance

“ T O G I V E AWAY M O N E Y I S A N E A S Y M AT T E R A N D I N A N Y M A N ’ S P O W E R . H O W E V E R , T O D E C I D E T O W H O M T O G I V E I T , A N D H O W L A R G E A N D W H E N , A N D F O R W H AT P U R P O S E A N D H O W , I S N E I T H E R I N E V E RY M A N ’ S P O W E R – N O R A N E A S Y M AT T E R . H E N C E I T I S T H AT S U C H E XC E L L E N C E I S RA R E , P R A I S E W O RT H Y A N D N O B L E . ”

A R I S T O T L E1

Today’s DiscussionFactors impacting Decision to select a

MethodReview of Historical Packaging Methods

and Today’s EnvironmentIssues that Arise which impact PackagingDiscussion of what Works for you and on

What you would like helpOpen Give and Take Discussion

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Factors that Impact Packaging Method

Cost of Attendance

Student Demographics

Funds Available

Institutional Mission

Academic Programs Provided

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TRADITIONAL PACKAGING METHODOLOGIES

Gift Aid FirstCOA

- EFC- Pell= Remaining Need- Scholarship/Grants- Loans/Employment

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TRADITIONAL PACKAGING METHODOLOGIES

Self-Help FirstCOA

- EFC- PELL- Scholarship(s) [n-n based]= Remaining Need- Self-Help (Loan(s) and Empl- Grant

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TRADITIONAL PACKAGING METHODOLOGIES

Equity PackagingAll students receive a certain level of gift aid

regardless of source (sum of federal/state, private, school)

Assures all students start with a level playing field before self-help is awarded

Absolute equity – minimum valueFixed percent equity - % of free money vs. COA

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ABSOLUTE EQUITYAE = $5,000 $10,000 $20,000COA = 10,000 20,000 40,000EFC - 5,500 5,500 5,500Pell - 0 0 0Schol - 0 2,000 12,000Remain Need 4,500 12,500 22,500Equity Grant 0 2,500 2,500Self-Help 4,500 10,000 10,000Unmet 0 0 10,000

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FIXED PERCENTAGE EQUITYPE 50% 60% 70%COA $10,000 $20,000

$40,000EFC 5,500 5,500 5,500Schol 0 2,000 12,000Rem Need 4,500 12,500 22,500Equity Grnt 0 4,500 10,500Self-Help 4,500 8,000 10,000Unmet 0 0 2,000

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Enrollment ManagementTakes Fixed Percentage idea to another level by

addingin student characteristics beside financial need;

Impacts only institutional aidPossible Characteristics

Academic Achievement Legacy StudentGeography Penetration AreaEthnicity Academic Major

Gender

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EM VARIABLE PERCENTAGEEM % 50% 60% 65%COA $25,000 $25,000

$25,000EFC 5,000 5,000 5,000Need 20,000 20,000 20,000

Total Free 10,000 12,000 13,000Self-Help 10,000 8,000 7,000

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Packaging IssuesLarge External Resources - GMS VA benefits

after awarded but prior to or after disbursement

Change in family situation - divorce medical

Change in major (EM model)

Massive EFC change due to verification

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OPEN DISCUSSIONWhat model do you use & why

What would make it better (no more money)

Is Financial Need still relevantWhat does the future hold

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