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The Council and Hispanic Association of Colleges and Universities TRIO Retention Institute for Minority-Serving Institutions Addressing Issues of Unmet.

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Presentation on theme: "The Council and Hispanic Association of Colleges and Universities TRIO Retention Institute for Minority-Serving Institutions Addressing Issues of Unmet."— Presentation transcript:

1 The Council and Hispanic Association of Colleges and Universities TRIO Retention Institute for Minority-Serving Institutions Addressing Issues of Unmet Need in Financial Aid Packaging Presenter: Dolores S. Davis Financial Aid Director Clark Atlanta University February 29, Seconds Auto Advance

2 Packaging The Real Delivery of Aid Number of students needing assistance –First-time in college (FTIC) –Continuing Amount of money available –Percentage of Gift Aid – Percentage of Self- help Aid 14 Seconds Auto Advance

3 Definition of Packaging Packaging is the process of combining various types of aid from a variety of sources to meet the students financial need. –Packaging is the tool by which the aid administrator seeks to best meet a students documented need. –In this process the institution also has to keep in mind limited resources in terms of distribution of grant and self-help aid. –Packaging is the real delivery of aid. It is the culmination of establishing a budget, subtracting the computed EFC, and filling need with actual aid. 20 Seconds Auto Advance

4 Packaging Philosophies The schools mission and goals affect its approach to packaging. –Amount of need to be met, so aid may be distributed in an equitable manner. –To attract students to the institution, or to attract certain types of students. –To provide employment opportunities to students. –Maintaining manageable student debt levels and reasonable self-help expectations. –Packaging philosophies must also take into consideration all institutional, state, and federal guidelines in terms of award limits and selection criteria. 20 Seconds Auto Advance

5 Financial Need Cost of Attendance (COA) – Expected Family Contribution (EFC) =Financial Need 10 Seconds Auto Advance

6 The Cost of Attendance Tuition and fees Books and supplies Room Board Transportation Personal Expenses Cost of Computer Additional costs applicable to individual students (loan fees, costs incurred because of a disability, study abroad costs, dependent care) 15 Seconds Auto Advance

7 Availability of Funds MMerit-based aacademic talent NNeed-based Ggift- aid self-help 10 Seconds Auto Advance

8 Packaging Challenges DDirect Cost and/or u Indirect Cost 10 Seconds Auto Advance

9 CHALLENGES –Meeting the unmet need of students with zero expected family contributions (EFC) –Keeping student debt at a minimum for the first and second years –Meeting total need or only direct cost – Providing aid to students in remedial programs –Providing aid to students in a College Preparatory program 18 Seconds Auto Advance

10 Packaging Challenges What percentage of cost will be covered by loans? What percentage of cost will be covered by work? What percentage of cost will be covered by gift aid ( grants and/or scholarships)? What percentage of need will not be met? 18 Seconds Auto Advance

11 Packaging Challenges How will the school adjust the package when the student receives aid from outside sources? Will the student receive a similar package each year? If not, what will be the gift aid and self-help aid percentages? 15 Seconds Auto Advance

12 Solutions Get involved in the reauthorization process. Write your legislators Inform your administrators and faculty Inform your students Inform your parents 13 Seconds Auto Advance

13 The Challenge for the 21 st century is to help parents and students find the dollars that are not covered by state, federal and institutional aid programs. 8 Seconds Auto Advance

14 Will a College Education be for ONLY those who can afford to pay? 6 Seconds Auto Advance

15 The End Have a Nice Day!! 3 Seconds Auto Advance


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