Student Financing Module

Student Financing Module

Patti Biggs2012 KBOR Conference

June 13, 2012

Data Collections Marti Leisinger, Team Leader Elenor Buffington, Project Specialist Patti Biggs, Project Specialist Mary Galligan, Project Specialist

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Agenda

Overview of Student Financing Module Review of file structure - individual fields Feedback throughout

• Collect your thoughts and perspectives to inform direction, please.

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Progress & Planning: Student Financing Module

First Collection – AY 2013• Finalizing specs• Aligning with definitions in existing collections• Collecting your feedback to refine the plan

• Required – Not optional• Analysis of AY13 data only to drive

improvement, identify required adjustments• First year not publishable

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OVERVIEW OF THE STUDENT FINANCING MODULE

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Student Financing Module Goal: Within the KSPSD database …

• To develop a module containing information necessary to address questions related to how students finance higher education

► Tuition Rates - when tuition rates increase, how much of that money is going into scholarships to help students with financial need?

► Student loans – how much debt do our students have to incur to attend our institutions?

► Grants- help determine the potential impact of proposed changes in Pell grants

► Costs-help determine how much money students are really taking out of their own pockets to attend our institutions 6

Research Questions:Student Financing Module

“Are students being priced out of higher education?” – a frequently asked question• When tuition goes up, from where do students

get resources?►Aid: % and $ received for various types of aid►Debt: Who has debt at graduation? How much?

• Is there a correlation between aid received, debt incurred and retention?

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Research Questions:Student Financing Module

Is there a shift in the types of institutions attended?

►Trend comparison between populations who attended University Sector compared to Community College Sector

►Trend comparison on student transfer migration►Trend comparison on the amount of courses a

students takes

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Descriptive Analysis:Student Financing Module

Who is getting aid? Who is incurring debt? What type(s) of aid, debt? How much? –• By demographic groups:

►Gender►Race►Age►Home Area►Residency Status

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Data References

Student Finance Module

IPEDS

CDSISIR

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Data at aggregate level – useful for definitions;Likely institutions have to pull student-level data to get to aggregates

* Definitions, References

* Data overlap – Based on FAFSA: most, but not all, students submit

Consistency in Reporting Minimizing Reporting Burden

Most Students Complete FAFSA% All Students Completing

FAFSA (2007-2008)%Full Time Students Completing

FAFSA (2007-2008)

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Institution Type 2007-08 Public 52.1%Public 4-year 63.2%Public 2-year 43.9%Public < 2-year 48.6%Non-profit 71.7%Non-profit 4-year 71.5%Non-profit 2-year 77.7%Non-profit < 2-year 81.9%For-profit 95.4%For-profit 4-year 96.5%For-profit 2-year 98.9%For-profit < 2-year 88.3%

Institution Type Full-Time Public 66.4% Public 4-year 69.5% Public 2-year 61.2% Public < 2-year 60.0% Non-profit 77.7% Non-profit 4-year 77.4% Non-profit 2-year 89.3% Non-profit < 2-year 86.4% For-profit 95.5% For-profit 4-year 95.9% For-profit 2-year 98.8% For-profit < 2-year 90.5%

Source: www.finaid.org/educators/20091014fafsacompletion.pdf

Population covered inStudent Financing Module

Student Financing is a module within the KSPSD AY Collection• Population = KSPSD-AY Population

►Students who meet the “20th day rule” and are enrolled in courses that fulfill a requirement for formal award or stand-alone parent program.

• Not Limited to those receiving Financial Aid• Includes Undergraduate & Graduate Students

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Cost to Attend Student Resources

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Fund Source Fund

Typ

e

Need

Financial Aid

3 Dimensions/Buckets of Financial Aid Funding Source

• Federal, State, Local, Institution, Outside/Private

Funding Type• Grant, Loan, Self-Help, Scholarship, Tuition

Waivers Is Award Need-Based

• Need-based Award, Not Need-based Award

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Fund Source Fund T

ypeN

eed

Financial Aid

Examples of Financial Aid Grouped by Funding Source

Federal• Pell (Fed Grant)• SEOG (Fed Grant)• FWS (Self-Help)• Perkins (Loan)• Stafford Loans (Loan)• Unsubsidized Loans • PLUS Loans

State, Local• State Scholarships• Local Scholarships (

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Institution• University Loans • Endowment Loans• Scholarships• Tuition Waivers

Private / Community Organizations• Private Loan• Private Merit-based

gift/scholarship• Membership-related

Examples of Financial Aid Grouped by Funding Types

Grants• Pell (Fed - need)• SEOG (Fed - need)

Loans• Perkins• Stafford Loans• Unsubsidized Loans• University Loans• Private Loan

Self Help• FWS (Fed - need)• KCWS (State-need) 16

Scholarships• State Scholarships• Institution Group-

based Scholarships (athletics, minority,etc.)

• Private Merit-based gift/scholarship

Tuition Waivers

Financial Aid: Need-based Award? Need Based Awards

• College-funded or college-administered award from institutional, state, federal, or other sources for which a student must have financial need to qualify. This includes both institutional and non-institutional student aid (grants, jobs, and loans).

• Need-based scholarship or grant aid: Scholarships and grants from institutional, state, federal, or other sources for which a student must have financial need to qualify.

• Need-based self-help aid: Loans and jobs from institutional, state, federal, or other sources for which a student must demonstrate financial need to qualify.

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Financial Aid: Need-based Award (continued)

Non-Need-based Awards• Non-need-based scholarship or grant aid: Scholarships and

grants, gifts, or merit-based aid from institutional, state, federal, or other sources (including unrestricted funds or gifts and endowment income) awarded solely on the basis of academic achievement, merit, or any other non-need-based reason.

Definition: CDS

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Fund Source Fund

Typ

e

Need

Financial Aid

Tuition Waivers

Student Financing Module will replace Tuition Waiver Collection • Undergraduate and Graduate Students• Per Person per Reporting Period record• By Type of Waiver, Amount of Waiver

► Will enable continued reporting of Number of Waivers, Unduplicated Counts of Students, Aggregate amount of Waivers – all by Waiver types

– NOTE: Summer Reporting period (leading versus trailing) consideration

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Fund Source Fund

Typ

e

Need

Financial Aid

Cash Payments - EFC EFC – Student & Family contribution

• hope from ISIR

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Cost of Attendance

• Tuition►Actual Tuition dollars

charged ►SIS Accounts

Receivable ?

• Fees►Actual Fee dollars

charged►All Fee Charges►SIS Accounts

Receivable?

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Per Person – Per Reporting Period

Tuition & Fees – Actual … feedback?

Cost of Attendance

• Tuition►Budgeted Tuition

dollars estimated►COA publications

• Fees►Budgeted Fee

dollars estimated►COA publications

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Tuition & Fees - BudgetedPer Person – Per Reporting Period


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Cost to Attend Room Expense - - Board Expense

• Per Person – Per Reporting Period• Dollar amount of Room expenses • Dollar amount of Board expenses

…included in student budget on which financial aid package was based

►“ISIR Hope”• For those without FAFSA, use the “estimate” published in total

cost of attendance27


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Cost to Attend Books & Supplies

• Per Person – Per Reporting Period• Dollar amount of books and supplies

expenses included in the student budget on which the financial aid package was based

►“ISIR Hope”• For those without FAFSA, use the “estimate” published in total

cost of attendance

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Cost to Attend Transportation Expenses Personal Expenses Miscellaneous Expenses

• Per Person – Per Reporting Period

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DATA ELEMENTSStudent Financing Module

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Student Financing Module Sections of Module

1. Who is Student, Describe Student/Enrollment2. What are costs?3. What is Student’s Financing Package?

Crosses other collections Leverage, Reference Data Sources Minimize burden, Gain valuable information

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WHO is student/describe enrollment

In the AY Collection already:• Student Demographics / Descriptors

Reporting Period Student’s Dependency Status Campus Residency

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WHO Data Elements Already Captured – KSPSD AY

• KSPSD-AY Collection in “Students Information”►SSN►College Assigned ID Number►FICE ID►Term►Term Year►First, Middle, Last Name►Sex Code/Gender►Date of Birth

• One record Per Person

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WHO Data ElementREPORTING PERIOD

Reporting Period• Reporting term of Record

SU = Summer FA = Fall SP = Spring

• This field cannot be left blankREPORTING_TERM VARCHAR2(02)

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WHO Data Element Reporting Period & Summer Term

Summer Term Consideration - feedback• Option 1: Standard SU-FA-SP like all other

collections• Option 2: Summer Flag (Do we need 2 different

reporting periods?)►Enter whether the summer term you are reporting on

a leading or trailing summer. 1 = An academic year with a leading summer = SU+FA+SP.

(KHEDS reporting consistency)2 = An academic year with a trailing summer = FA+SP+SU.

(Financial Aid Year consistency)38

WHO Data ElementDEPENDENCY STATUS

Dependency Status• Student's financial dependency status per the

FAFSA.►IND = Independent ►DEP =Dependent►UNK = Unknown

• This field cannot be left blank.DEPENDENCY VARCHAR2(03)

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WHO Data ElementCAMPUS RESIDENCY

Campus Residency• Indicate the student’s expected living location

while attending classes per the FAFSA.►ON = On campus►OFF = Off campus►OFW = Off campus with family

• This field cannot be left blank.CAMPUS_RES VARCHAR2(03)ISIR FIELDS #140, 142, 144, 146, 148, 150, 152, 154, 156, 160:

1=On campus; 2=W-Parent; 3=Off campus, blankISIR Housing Plan linked with FICE ID for institution

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2. What are costs? Per Student per Reporting Period

• Actual Tuition * Actual Fees• Estimated Tuition * Estimated Fees

Estimated Room * Estimated Board• Estimated Books & Supplies• Estimated Transportation Expense• Estimated Personal Expenses• Estimated Miscellaneous Expenses

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COST Data ElementsTUITION & FEES CHARGED

Actual Tuition Charged- Actual Fees Charged• The dollar amount of total tuition• The dollar amount of total fees • …charged to the student for the reporting period.

► Include all amounts the student was assessed for enrolling in classes.

► Include items such as online fees, lab fees, enrollment fees, student activity fees, etc.

► By Reporting Period• This field cannot be left blank.*TUITION NUMBER(9) *SIS Accts Recv’bl*FEES NUMBER(9) *SIS Accts Recv’bl 43

COST Data ElementsTUITION & FEES CHARGED

Estimated Tuition Charged Estimated Fees Charged

• Dollar amount of tuition• Dollar amount of fees • …included in the student budget on which

financial aid package was based. • Components of Total Cost of Attendance

►By term enrolled• This field cannot be left blank.

FAP_TUITION NUMBER(9)FAP_FEES NUMBER (9) 44

COST Data ElementROOM & BOARD Room

• Dollar estimate of Room expense per Reporting Term• Estimated Cost per Financial Aid package • Component of Total Cost of Attendance• Will vary by Anticipated Residence

Board• Dollar amount of Board per Reporting Term• Estimated Cost per Financial Aid package • Component of Total Cost of Attendance• Will vary by Anticipated Residence

Cannot be left blankFAP_ROOM NUMBER(9)FAP_BOARD NUMBER(9) 45

COST Data ElementBOOKS & SUPPLIES

Books & Supplies• Estimated dollar cost for books and supplies

expenses included in the student budget on which financial aid package was based.

• Component of Total Cost of Attendance• This field cannot be left blank.FAP_SUPPLIES NUMBER(9)

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COST Data ElementTRANSPORTATION EXPENSE• Estimated dollar cost for Transportation

Expenses included in the student budget on which financial aid package was based.

• Component of Total Cost of Attendance• This field cannot be left blank.

FAP_TRANSP NUMBER(9)

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COST Data ElementPERSONAL EXPENSE

• Estimated dollar amount for Personal Expenses included in the student budget on which financial aid package was based.


FAP_PERSNL NUMBER(9)

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COST Data ElementMISCELLANEOUS EXPENSES

• Estimated dollar amount of any other items that your institution includes in the student budget on which financial aid package was based.


FAP_MISC NUMBER(9)

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FIN Data ElementISIR Flag

ISIR Flag• Enter whether the student has an ISIR record.

Only students who completed the FAFSA (Free Application for Federal Student Aid) will have an ISIR record.

Y = Yes N = No• This field cannot be left blank.

ISIR_FLAG VARCHAR2(01)51

File Structure 3 Dimensions/Buckets of Financial Aid

Funding Source• F=Federal, S=State, L=Local,

I=Institution, O=Outside/Private Funding Type

• G=Grant, L=Loan, H=Self-Help, S=Scholarship, W=Tuition Waivers (*)

Is Award Need-Based • Y=Need-based Award N=Not Need-based Award

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Fund Source Fund T

ypeN

eed

Financial Aid

(*) W: Tuition waivers - two additional data elements

Feedback: Relational File Construction

Each Award is a record - - Institution Award Name varchar(30) KBOR Award Name varchar(30) Funding Source Code varchar(1) Funding Type Code varchar(1) Award Need-Base Code varchar(1) Award Amount number( 9) ? Disbursed Amount number( 9)Per student - Per reporting period - Per Award

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Feedback: Flat File Construction

Each Student/Reporting Period is a record

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Pell Flag

Pell Awd$

Pell Dsb?$

SEOGFlag

SEOG Awd

SEOG Dsb

FWSFlag

FWSAwd

FWSDsb

InstSchlrp“A”-flag

InstSchlrp“A”-Amt

InstSchlrp“A”- Dsb

Var-char(1)

Num-ber(9)

Num-ber(9)

Var-char(1)

Num-ber(9)

Num-ber(9)

Var-char(1)

Num-ber(9)

Num-ber(9)

Var-char(1)

Num-ber(9)

Num-ber(9)

Data ElementFEDERAL - GRANTS

Record dollar amount for the Student for the Reporting Period

Fed Grants are grants provided by federal agencies such as US Dept of Ed, including Title IV Pell Grants and Supplemental Education Opportunity Grants (SEOG).

Also includes need-based and merit-based educational assistance funds and training vouchers provided from other federal agencies and/or federally sponsored educational benefits programs, including the Veteran’s Administration, Department of Labor, and other federal Agencies. (IPEDS Definition)

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Data ElementSTATE & LOCAL - GRANTS

State Grants, Local Grants• State and local grants received for the academic year

including summer session. ► Include grants provided by state► Include merit scholarships provided by state► Include tuition fees & waivers for which institution was

reimbursed by a state agency. <?► Local grants include any local government grants,

scholarships or gift-aid awarded directly to student.(IPEDS definition)

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Data Element INSTITUTIONAL - GRANTS

Institutional Grants • Amount of institutional grants received by student for academic

year and summer session (by Reporting Period ?). Includes:► …scholarship and fellowship granted and funded by

institution and/or individual departments within institution.► … tuition and fee waivers granted by institution for which

another source does not reimburse. <?► … scholarships targeted to certain groups of individuals for

which the institution designates recipient – athletic scholarships, etc.

– Do NOT include College Work Study. (IPEDS definition)

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Data ElementOUTSIDE/PRIVATE – GRANTS &

SCHOLARSHIPS These may include scholarships or grants

to students that are paid by an outside organization but are directed through the institution's financial aid office (e.g., Rotary Club Scholarship). (IPEDS definition)

Grant: Fund Source=O; Fund Type=G; Need-based?=Y Scholarship: Source=O; Fund Type=S; Need-based?=N https://surveys.nces.ed.gov/ipeds/VisFaqView.aspx?mode=reg&id=8&show=all

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Data ElementDefinition - LOANS

Loans• Dollar amount of loan monies received by student for

the academic year including the summer session.• Includes any money that must be repaid to lender for

which student is borrower.• Includes all Title IV subsidized & unsubsidized and all

institutionally and privately sponsored loans.• Does NOT include PLUS and other loans made

directly to parents. (IPEDS definition)

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Data ElementsLOANS

Federal Perkins Loan Program• This school-based loan program is• Available at participating schools to

undergraduate, graduate, and professional degree students.

• Offered to students who demonstrate financial need.

Funding Source=I; Funding Type=L; Need=Y

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Data ElementsLOANS

LOANS-Subsidized• Federal Loan - US Department of Education is lender• Need-based Award

► Direct Subsidized Loans are for students with financial need. Your school will review the results of your Free Application for Federal Student Aid (FAFSA) and determine the amount you can borrow.

► No interest accrues while enrolled at least half-time and during grace periods and deferment periods.

• Funding Source=F; Funding Type=L; Need=Yhttp://studentaid.ed.gov/PORTALSWebApp/students/english/studentloans.jsp http://studentaid.ed.gov/students/publications/student_guide/index.html “Funding Your Education” 2012-13, p.8

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http://studentaid.ed.gov/PORTALSWebApp/students/english/studentloans.jsp

http://studentaid.ed.gov/students/publications/student_guide/index.html

Data ElementLOANS

LOANS-Unsubsidized• Federal Loan - US Department of Education is lender• Non-Need-based Award

► Like subsidized loans, institution determines amount student can borrow.

► Interest accrues across life of loan – student can pay or capitalize interest during enrollment and grace periods and deferment or forbearance periods.

• Funding Source=F; Funding Type=L; Need=N

http://studentaid.ed.gov/PORTALSWebApp/students/english/studentloans.jsp62

http://studentaid.ed.gov/PORTALSWebApp/students/english/studentloans.jsp

Data ElementPRIVATE LOANS

Private Loans• Dollar amount of private loan monies received

by the student for the academic year and summer session.

• Include signature loans and alternative loans.

Funding Source=O; Funding Type=L; Is it a Need-based Award=N

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Data ElementSelf-Help: Federal Work Study

Federal Work Study (FWS)• Dollar amount of funds earned through the FWS program for

the academic year and summer session.• FWS provides a part-time jobs for undergraduate and

graduate students with financial need, allowing them to earn money to help pay education expenses.

• FWS is awarded to eligible students by the college as part of the student’s financial aid package.

• Do Not report earnings from part-time jobs or other sources that are not part of the FWS program.

http://nces.ed.gov/ipeds/glossary/?charindex=F (IPEDS)

FED_WORKSTUDY NUMBER(9)Funding Source=F; Funding Type=H; Need-based Award=Y 64

Data ElementSelf-Help: Kansas Career Work Study

Kansas Career Work Study• A state-funded program intended to provide off-campus employers

with an incentive to hire students. Consist of a career component and a youth education services component.

► The purpose of the career component of the program is to promote, stimulate and assist in the part-time employment of eligible students in jobs or positions of service that will complement and enhance the educational preparation of such students for a career.

► The purpose of the youth education services component of the program is to provide financial assistance for eligible students who participate in the program by performing youth education services for school districts or by performing duties for an eligible educational institution in connection with operation of the program. (K.S.A. 74-3274)

KS_WORKSTUDY NUMBER(9)Funding Source=S; Funding Type=H; Need-based =N

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Data ElementScholarship & Fellowships – by Institution

These awards do not require the performance of services while a student (such as teaching) or subsequently as a result of the scholarship or fellowship.

• The term does not include loans to students (subject to repayment), College Work-Study Program, or awards granted to a parent of a student because of the parent's faculty or staff status.

• Also not included are awards to students where the selection of the student recipient is not made by the institution.

Funding Source=I; Funding Type=S; Need-based Award=Y/N

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Data Element FieldsOTHER FINANCIAL AID

Other Financial Aid• Dollar amount of other financial aid received by

student for the academic year including the summer session.

• Includes aid from local businesses, civic groups, churches benefactors, national organizations, professional organizations, hobby groups etc…

• This field cannot be left blank.OTHER _AID NUMBER(09)Funding Source=O; Funding Type=?; Need-based=N 67

Tuition Waivers Current Collection superseded Set by Statute or Policy Allow for multiple tuition waiver reasons

per person per Reporting Period – each with a dollar value

Most waiver types apply to Undergraduate and Graduate Students• A few apply to Graduate Students Only

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Tuition Waiver – Field Overview Tuition Waiver Category – ‘grouping’ variable

determined by KBOR waiver name Tuition Waiver Reason

• Institution Verbiage – “Award name”• KBOR Verbiage – “KBOR Name”

Add: Tuition Waiver Type (Non-Resid./Resident) Add: Tuition Waiver Scope (Partial/Full) Tuition Waiver Dollars – “Award Amount”

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Tuition Waiver Categories & Reasons(Undergrads & Grads)

University Employee-Related Staff members (K.S.A. 76-729(b)(1);

K.A.R. 88-3-88)

Spouse of Staff member Dependent of university

employee

(for Graduate student only) Grad Teaching Assistant

Agreements: other Jurisdictions Missouri Reciprocal

Agreement Iowa Student Exchange

Program Other State Exchange Midwest Student Exchange International Reciprocal

Agreement

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Tuition Waiver Categories & Reasons (cont.) (Undergrads & Grads)

Military /Service Related Active Military Service

member Family member of Active

Military Service Member ROTC Waiver Dependent/Spouse of

Deceased Military Personnel and Former Prisoner of War

Dependent/Spouse of Deceased Public Safety Officers

Other Categories Kansas Teacher of the

Year Individual Recruited to

Kansas for Economic Development

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Tuition Waiver Categories & Reasons (Undergrads & Grads)

Agreements: other Jurisdictions with Institution Specificity

KU Edwards: Metro KC Waiver

Pitt State: Gorilla Advantage

More ??

Missing Waivers? Feedback, please!

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Data ElementTuition Waiver Type & Scope

Tuition Waiver Type • Non-Resident to resident waiver• Resident waiver

Tuition Waiver Scope• Partial• Total

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Data ElementTuition Waiver Dollars

Per Person – Per Reporting Period – Per Tuition Waiver Reason:

Dollars of tuition waived

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STUDENT FINANCING MODULE : REPORTS

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Student Financing ModuleReports

Open Question:

What reports would be beneficial to you?

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Progress & Planning: Student Financing Module

First Collection – AY 2013• Finalizing specs• Aligning with definitions in existing collections• Collecting your feedback to refine the plan

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Additional Feedback

Questions

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Patricia (Patti) Biggs, Project Specialist100 SW Jackson, Suite 520Topeka KS [email protected] tele785.296.0983 fax

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mailto:[email protected]

Student Financing Module

Documents

Transcript of Student Financing Module