Packaging and Notification of Awards A NASFAA Authorized Event Presented by Donna Quick Vice President of Enrollment and Marketing Emmanuel College.

Packaging and Notification of Awards A NASFAA Authorized Event Presented by Donna Quick Vice President of Enrollment and Marketing Emmanuel College GASFAA Fall Workshop 10/4/2017

Lesson 1 Introduction to Packaging

What Does Packaging Accomplish?
Financial need Equitable distribution of limited resources Program compliance Mission, goals, and objectives

Evaluating Financial Need
COA COA COA EFC EFC EFA EFA Financial Need Remaining Need Remaining Eligibility

Packaging Policies and Procedures
Ensure full expenditure of funds Compliance with requirements to provide information Consistency in packaging Consistency in handling overawards Consistency in responding to appeals Achievement of institutional goals

Quick Quiz: 1. Financial aid packaging involves which of the following:  Dividing the student’s expenses into institutional and noninstitutional costs  Employing strategies to distribute limited financial aid resources to qualified students  Maintaining compliance with program-specific requirements and endeavoring to meet the mission, goals, and objectives of the school  Applying written policies and established procedures consistently Page 3

Quick Quiz: 2. The packaging process combines various types of Title IV and non-Title IV aid from __________, __________, __________, and __________ entities to help meet the student’s financial need. 3. Each school should have written policies outlining its __________ and processes. 4. The basic financial need equation is __________. Page 3

What is your school’s educational mission statement
What is your school’s educational mission statement? Do you think your school’s financial aid packaging philosophy aligns with the mission? Is your school able to meet the financial need of all students, some students, or no students? Why do you believe this is the case? Does your school’s financial aid office have written policies and procedures? Does it state what the packaging goals are? If not, how would you define the packaging goals? Page 4

Lesson 2 Packaging Guidelines

Institutional Aid Reasonably Available Funds
Applies to campus-based funds May not exclude otherwise eligible students or category of students when packaging Not defined in law or regulations Schools agree to this requirement through the PPA

Packaging Categories Categories Class standing Enrollment status
Academic program or major Grade point average (GPA) Application date Residency

Packaging Categories Control the distribution of financial aid using percentages, set dollar amounts, etc. Student population Diversity Retention rates Completion rates

Packaging Sequence Sequence of awarding financial aid from each program is up to the school School controls packaging outcomes Sequence followed consistently within categories Grant aid FWS Loans

Packaging Award Amounts
Packaging policy should Set guidelines for each program Specify portion of need school will meet Set gap as a flat amount or fixed percentage Specify minimum award amounts for campus-based programs Consider program maximums that increase each year, such as loans

Quick Quiz 1: 1. What agreement does the school sign that says campus-based funds will be made reasonably available to all eligible students? 2. “Reasonably available” is defined by the __________.  Accrediting agency  U.S. Department of Education (ED)  State Department of Education  Institution 3. Packaging categories provide a means for the school to control its __________, if the school assigns a percentage or dollar amount of funds to each category. Page 10

Quick Quiz 1: 4. Why might a school wish to establish minimum award limits for Federal Perkins Loan and FWS? 5. A school may establish categories that reflect the school’s mission and philosophy and account for characteristics of the student population, such as _________, _________, and _________ rates. 6. What two approaches may a school use if there is a gap between need and a financial aid package? Page 10

What are some strategies your institution uses to ensure campus-based funds are “reasonably available” to eligible students? What packaging categories would you use to distribute aid among your students? What steps would you take to prevent such categories from being discriminatory? Page 11

Does your institution provide more grant and institutional aid to incoming freshmen? What could be some possible problems with this practice? What strategies would you use to prevent it? What factors do you think keep schools from being able to meet fully the financial need of their students? Page 11

Award Year Federally defined July 1 to June 30 July 1 to June 30

Undergraduate Program Type
Academic Year Minimum Hours Minimum Weeks in a Year Undergraduate Program Type Credit Hours 30 weeks 24 semester or trimester 36 quarter Clock Hours 26 weeks 900 clock

Graduate/ Professional Program Type
Academic Year Minimum Hours Minimum Weeks in a Year Graduate/ Professional Program Type Credit Hours 30 weeks Defined by the school Clock Hours 26 weeks Defined by the school

Summer Term Format Considerations Structure of the term
Enrollment status Crossover payment period Funds allocation Use of SAY or BBAY

Summer Term Format Select award year for a crossover payment period
June 30 July 1 Summer

Program-Specific Packaging Criteria
Reasonable portion of campus-based programs Exceptional need and priority order (FSEOG) Federal Perkins Loan (exceptional need) TEACH Grant Program Direct Loans Students with AmeriCorps benefits Recipients of IASGs

Quick Quiz 2: 1. The definition of an academic year for an academic program which measures progress in semester credit hours must include at least _______ credit hours and _______ weeks of instruction.  24; 30  30; 30  30; 24  36; 24 2. The definition of an academic year for an academic program must be equal to the actual length of the program for a student enrolled full-time for one year.  True  False Page 17

Quick Quiz 2: 3. A school must award Federal Perkins Loans first to students with:  exceptional need, as defined by the institution after Direct Subsidized Loan and/or Direct Unsubsidized Loan eligibility is considered.  exceptional need, as defined by regulation.  an EFC that falls within the same range as the Federal Pell Grant.  the lowest EFCs. Page 17

Quick Quiz 2: 4. An institution must award a reasonable portion of campus-based funds to independent students and to students enrolled less than full-time if:  the institution’s allocation for campus-based funds includes any Federal Perkins Loans.  the institution allows students to graduate from a program after being enrolled on a part-time basis.  the proportion of independent and part-time students enrolled at the institution exceeds 33 percent.  the institution’s allocation for campus-based funds is based directly or indirectly on the financial need of such students. Page 17

Quick Quiz 2: 5. If a student is identified on the ISIR as being eligible for the Iraq and Afghanistan Service Grant (IASG), the student must be awarded:  the IASG only if the student has an EFC within the eligibility range for a Federal Pell Grant.  a Federal Pell Grant based on a zero EFC as long as the student has an EFC within the eligibility range for a Federal Pell Grant.  a Federal Pell Grant based on a zero EFC regardless of the student’s EFC.  the IASG regardless of the student’s EFC. Page 17

Learning Activity: Filling the Financial Need Gap Page 18

Learning Activity: Filling the Financial Need Gap
For each case study described on page 18, use the description of each school’s packaging policies to fill the financial need gap. Page 18

Philip at Faraway College 1. How much is Philip’s total need? 2. How much need is FC responsible for meeting? $24,550 ($24,550 – 0). $13, (55% of $24,550). Page 18

Philip at Faraway College 3. Is Philip eligible for Federal Perkins Loan? 4. Based upon Philip’s total aid eligibility, has FC followed its own policy? How much of Philip’s need is met? COA $24,550 EFC Financial Need = $24,550 Pell Grant - $5,920 Institutional Grant - $1,000 FSEOG - $500 FWS - $2,500 Subsidized Loan - $4,500 Remaining Need = $10,130 Perkins Loan Yes. Yes, his total award is $16,420, which meets 67% of his need. $2,000 Page 18

Antonia at Coastal University 1. How much is Antonia’s total need? 2. How much need is CU responsible for meeting? $9,859 ($18,458 – 8,599). $7,859 ($9,859 – $2,000). Page 18

Antonia at Coastal University 3. Is Antonia eligible for Federal Perkins Loan? 4. Based upon Antonia’s total aid eligibility, has CU followed its own policy? How much of Antonia’s need is met? COA $18,458 EFC - 8,599 Financial Need = $9,859 CU’s Gap - $2,000 Institutional Grant - $500 FWS - $3,000 Direct Loan - $10,500 Remaining Need = $0 Perkins Loan Need-based Aid No, her aid exceeds CU’s policy. Yes, all of her need is met, after CU’s gap is applied, even before any Perkins Loan award. $0 $9,000 Page 18

Lesson 3 Packaging Models and Processes

Basic Packaging Models
Individual student First-come, first- served Distinct student Gift aid first Self-help Equity

First-come, first- served
Basic Packaging Models Individual student First-come, first- served Distinct student Gift aid first Self-help Equity

Gift Aid First Packaging Model
Cost of attendance (COA) – Expected family contribution (EFC) – Federal Pell Grant – Estimated financial assistance (EFA) = Remaining need for packaging Grants and scholarships awarded first Self-help awarded to meet remaining need

Gift Aid First Example—Harry
COA $17,450 EFC ̶ 900 Need = 16,550 Federal Pell Grant $5,070 Jazz Scholarship 1,200 Remaining Need 10,280 FSEOG 2,000 FWS 2,500 Direct Subsidized Loan 5,500 Federal Perkins Loan 280mbnail Unmet Need

Self-Help Packaging Model
Cost of attendance (COA) – Expected family contribution (EFC) – Federal Pell Grant – Estimated financial assistance (EFA) = Remaining need for packaging Self-help aid awarded first Gift aid awarded to meet remaining need

Self-Help Example—Jayla
COA $20,320 EFC ̶ Need = 20,320 Federal Pell Grant $5,920 Symon Kowell Grant 3,000 Remaining Need 11,400 FWS $1,500 Direct Subsidized Loan 3,500 Direct Unsubsidized Loan 2,000 Federal Perkins Loan 1,500 FSEOG 1,000 Institutional Grant 1,900 Unmet Need

Equity Packaging Model
Assures certain level of gift aid assistance Cannot be used to award FSEOG Equity Models Absolute Equity Concept Fixed-Percentage Equity Concept

Absolute Equity Level TC = TR TG S Absolute Equity Level = TR + TG S
Total COA for all students TR Total outside resources of all eligible students (EFC, Federal Pell Grant, state grant, external scholarships, etc.) TG Total grant money available to school for equity grant use S Number of eligible students to be packaged

Example—Student A Absolute Equity Target = $7,000 EFC ̶ 7,500
Equity Grant Eligibility ($500) COA $10,000 Need 2,500 Equity Grant FWS 1,500 Direct Subsidized Loan 1,000 Unmet Need Example—Student A

Example—Student B Absolute Equity Target = $7,000 Federal Pell Grant ̶
4,370 EFC 1,505 Equity Grant Eligibility $1,125 COA $15,000 Need 13,495 $4,370 Equity Grant 1,125 FWS 1,500 Direct Subsidized Loan 4,500 Remaining Need $2,000 FSEOG $1,000 Unmet Need Example—Student B

Example—Student C Absolute Equity Target = $7,000 Federal Pell Grant ̶
5,920 PTA Scholarship 1,500 EFC Equity Grant Eligibility ($420) COA $14,000 Need 14,000 $5,920 Equity Grant FWS Direct Subsidized Loan 4,500 Remaining Need $580 FSEOG Unmet Need $0 Example—Student C

Fixed-Percentage Equity Level
= (TR + TG) x 100% TC TC = Total COA for all students TR Total outside resources of all eligible students (EFC, Federal Pell Grant, state grant, external scholarships, etc.) TG Total grant money available to school for equity grant use S Number of eligible students to be packaged

Example—Student A Fixed % Absolute Equity Target = $7,000 EFC ̶ 7,500
Equity Grant Eligibility ($500) COA $10,000 Need 2,500 Equity Grant FWS 1,500 Direct Subsidized Loan 1,000 Unmet Need $5,000 7,500 ($2,500) $10,000 2,500 1,500 1,000 Example—Student A

Example—Student B Fixed % Absolute Equity Target = $7,000
Federal Pell Grant ̶ 4,370 EFC 1,505 Equity Grant Eligibility $1,125 COA $15,000 Need 13,495 $4,370 Equity Grant 1,125 FWS 1,500 Direct Subsidized Loan 4,500 Remaining Need $2,000 FSEOG $1,000 Unmet Need $7,500 4,370 1,505 $1,625 $15,000 13,495 $4,370 1,625 1,500 4,500 $1,500 $1,000 $500 Example—Student B

Example—Student C Absolute Equity Target = $7,000 Federal Pell Grant ̶
5,920 PTA Scholarship 1,500 EFC Equity Grant Eligibility ($420) COA $14,000 Need 14,000 $5,920 Equity Grant FWS Direct Subsidized Loan 4,500 Remaining Need $580 FSEOG Unmet Need $0 $7,000 5,920 1,500 ($420) $14,000 14,000 $5,920 4,500 $580 $0 Example—Student C

Quick Quiz 1: 1. Which of the following packaging models cannot be used to award FSEOG funds?  Self-help packaging model  First-come, first served packaging model  Individual student packaging model  Gift aid first packaging model  Distinct student group packaging model Page 34

Quick Quiz 1: 2. Match the packaging model to its key characteristic:
Packaging Model Characteristic Students are assured of a certain level of gift aid Customized award package that takes into account students’ individual circumstances Award using special criteria to target funds to students in designated groups Award students in the order in which aid applications are received After EFC, Federal Pell Grant, IASG, and other EFA, gift aid is awarded before self-help aid After EFC, Federal Pell Grant, IASG, and other EFA, self-help aid is awarded before gift aid Page 34

Quick Quiz 1: 3. If a school packages aid using the self-help model, all students or all students within a particular packaging category are expected to assume responsibility for a certain amount of __________ aid before __________ is awarded. 4. Fill in the formula for calculating the absolute equity level. 5. Fill in the formula for calculating the fixed percentage equity level. Pages 34-35

Quick Quiz 1: 6. When awarding a new undergraduate Federal Perkins Loan borrower for the 2017–18 award year, in what order must the school package a Federal Perkins Loan?  Perkins, then Subsidized, and then Unsubsidized  Perkins, then Unsubsidized, and then Subsidized  Subsidized, then Perkins, and then Unsubsidized  Subsidized, then Unsubsidized, and then Perkins Page 35

Quick Quiz 1: 7. Under either of the equity packaging concepts, a student is guaranteed a certain amount of which type of aid?  Campus-based aid  Gift aid  Self-help aid  Work-study aid 8. A school may establish a single equity level for all students regardless of variations in individual student costs, or a different equity level for students with different COAs or COA ranges, or even for different categories of students.  True  False Pages 35-36

Does your school use one of, a combination of, or none of the packaging models outlined?
Does your school use different packaging models for different categories of students (e.g., incoming freshmen versus continuing undergraduates)? Briefly describe your school’s packaging model(s) and compare them. Do you agree with your school’s undergraduate and/or graduate packaging model(s)? Why or why not? What would you do to change them? Page 37

Does your school meet full financial need for some students and not others?
If your school awards FSEOG and/or Federal Perkins Loans, what is your school’s definition of exceptional financial need for these programs? Is it different for each program? If so, how? Does your school package Direct Subsidized Loan, Direct Unsubsidized Loan, and/or PLUS up-front when packaging a student, or do you only include Direct Loans upon request after initial packaging? Do you agree with this practice? Page 38

Learning Activity: Packaging Exercise—Jordan Page 39

Learning Activity: Packaging Exercise—Jordan
For the case study of “Jordan” described on page 39, use the information about Jordan and the description of each school’s packaging policies on pages to fill in the Packaging Worksheet on page 40. Pages 39-40

Learning Activity: Packaging Exercise—Jordan
$ 2,750 $ 6,500 $ 12,065 $ 12,755 $ $ 3,500 $ 1,250 $ 2,000 $ 1,500 $ 1,000 N/A $ 1,715 $ 2,985 $ 3,350 $ 2,770 Page 40

Packaging Direct Loans and Loan Fees
Direct Loan Borrowers Must add actual or average loan fees to COA Subsidized, unsubsidized, and PLUS Nonfederal Loan Borrowers May include required loan fees in COA Once loan fees are added to COA, gross loan amount also is included in EFA

Direct Loan Fees Example—David
COA and Need with Average Loan Fees COA $17,525 Average Subsidized and Unsubsidized Direct Loan Fees + 60 Revised COA = 17,585 EFC ̶ 14,958 Remaining Need 2,627 Estimating Direct Loan Eligibility Estimated Direct Subsidized Loan Eligibility $2,627 Estimated Direct Unsubsidized Loan Eligibility + 3,873 Total Estimated Direct Loans = $6,500 Revised COA (including Direct Loan Fees) $17,585 Estimated Subsidized and Unsubsidized Direct Loan ̶ 6,500 Estimated PLUS Eligibility $11,085 Actual PLUS Loan Fee Percentage Assessed x 4.276% Calculated Actual PLUS Fees $473.99

Direct Loan Fees Example—David
Revising COA and Direct Loan Amounts Revised COA $17,585 PLUS Fees (truncated to 2 decimal places; not rounded) + 473.99 Revised COA (includes all loan fees) = $18,058.99 EFC ̶ 14,958 Revised Financial Need (not rounded) $3,100.99 Awarding Actual Subsidized and Unsubsidized Direct Loans Award Direct Subsidized Loan $3,100.99 Award Direct Unsubsidized Loan + 3,399.01 Total = $6,500 Awarding Actual PLUS Revised COA $18,059 Subsidized and Unsubsidized Direct Loans ̶ 6,500 Revised PLUS Eligibility = $11,559 Award Actual PLUS

Packaging TEACH Grants
School chooses packaging order May replace EFC Sequestration applies

TEACH Grants Example—Safina
COA $16,890 EFC ̶ 1,036 Need = $15,854 Federal Pell Grant 4,870 Future Teacher Scholarship 4,000 Remaining Need $6,984 FSEOG 2,000 FWS 2,500 TEACH Grant 2,484 Unmet Need $ $2,484 + Revised TEACH Grant (to replace EFC) $3,520

Packaging IASGs EFC is Pell-Eligible
EFC is not Pell-Eligible Award IASG up to full Pell Grant amount Cannot exceed COA EFC is Pell-Eligible Award full Federal Pell Grant EFC is not changed

Packaging IASG Example—Lebron
COA $21,735 Average Direct Loan Fees + 70 Revised COA = $21,805 EFC ̶ 8,410 Need $13,395 IASG 5,511 County Scholar Grant 2,450 Remaining Need $10,945 ($5,434) Direct Subsidized Loan 4,500 FWS 4,000 FSEOG 2,445 Unmet Need $ (-$5,511)

Packaging Simulation Establish average award for each type of aid
Package students eligible for fewest types of awards Package remaining students with most restrictive aid first Evaluate results Adjust packaging parameters Repeat until desired outcome Packaging Simulation

Quick Quiz 2: 1. Once Direct Loan fees are added to the student’s cost of attendance, the __________ is included in the student’s estimated financial assistance when calculating his or her remaining need?  net loan amount  gross loan amount Page 47

Quick Quiz 2: 2. Under which of the following conditions might a student be eligible for an IASG?  Student’s parent died as a result of U.S. military service after September 11, 2001  Student is an independent student  Student is less than 24 years of age  Student is enrolled at an institution of higher education  Student has a Pell-eligible expected family contribution Page 47

Quick Quiz 2: 3. If a fourth-year undergraduate student’s COA is $33,000, his EFC is 17,000, and he wants—and is eligible—to borrow maximum Direct Subsidized Loan, Unsubsidized Loan, and parent PLUS eligibility prior to October 1, 2017, and if he is receiving no other EFA, then what is his revised COA after actual loan fees are calculated? 4. Which of the following Title IV aid programs can be used to replace the EFC?  TEACH Grant  Direct Subsidized Loan  IASG  PLUS Page 47

Quick Quiz 2: 5. If a student has a Pell-eligible EFC of 2,101 and his aid is first disbursed on June 1, 2017, what is the maximum award amount if the student’s parent died as a result of U.S. military service in Iraq or Afghanistan after September 11, 2001?  $5,920 Federal Pell Grant  $5, Iraq and Afghanistan Service Grant  $3,870 Federal Pell Grant  $3, Iraq and Afghanistan Service Grant Page 47

Quick Quiz 2: 6. If a student does not have a Pell-eligible EFC and her aid is first disbursed on September 15, 2017, what is the maximum award amount if the student’s parent died as a result of U.S. military service in Iraq or Afghanistan after September 11, 2001?  $5,920 Federal Pell Grant  $5,920 Iraq and Afghanistan Service Grant  $5, Federal Pell Grant  $5, Iraq and Afghanistan Service Grant 7. What are the five basic steps of a packaging simulation, in order? Page 48

Learning Activity: Packaging Direct Unsubsidized Loan and Graduate PLUS—Maria Page 49

Learning Activity: Packaging Direct Unsubsidized Loan and Graduate PLUS—Maria
For the case study of “Maria” described on page 49, use the information about Maria and the description of her school’s packaging policies on page 49 to package her final, actual Direct Unsubsidized Loan and Graduate PLUS eligibility. Be sure to take into consideration the loan fees for both types of loans. Page 49

Maria’s Final Award Package: What are Maria’s actual Direct Unsubsidized Loan and PLUS award amounts after loan fees are taken into consideration? Direct Unsubsidized Loan: Graduate PLUS: 20,500 17,242 Page 49

Initial Package Calculating Unsubsidized Loan and Graduate PLUS Amounts COA $36,850 EFC - 3,843 Financial Need = $33,007 COA $36,850 Average Direct Unsubsidized Loan Fees + 185 Revised COA = $37,035 Direct Unsubsidized Loan Eligibility $20,500 Page 49

Calculating Unsubsidized Loan and Graduate PLUS Amounts Revised COA $37,035 Direct Unsubsidized Loan Eligibility - 20,500 Estimated Graduate PLUS Eligibility = $16,535 Actual Graduate PLUS Fees Assessed (4.276%) x Calculated Graduate PLUS Fees = $707.04 Page 49

Calculating Unsubsidized Loan and Graduate PLUS Amounts Revised COA $37,035 Calculated Graduate PLUS Fees Revised COA (rounded, includes all loan fees) = $37,742 Direct Unsubsidized Loan Eligibility - $20,500 Graduate PLUS Eligibility = $17,242 Page 49

Lesson 4 Overawards, Appeals, and Award Notifications

Overawards Occurs when student’s aid exceeds need
Receipt of additional EFA reported by: Student Other campus offices Adjustment to FAFSA data elements Adjustment to COA

Overaward Resolution Pell grants are never adjusted
IASG adjusted only if exceeds COA and no other aid Campus-based programs allow an optional tolerance of up to $300 If overaward occurs after awarded After adjustments to Direct Loans Only unearned FWS may be adjusted

Overaward Resolution Direct Loan Programs include no tolerance
Must adjust undisbursed loan funds and/or future disbursements Not required to return funds already disbursed TEACH grants adjusted if exceeds COA in combination with other aid Non-need-based, but school may treat as EFA Must treat as EFA if overawarded with other aid

Overaward Resolution Example
COA $12,450 EFC ̶ 900 Need = 11,550 Federal Pell Grant $4,965 Remaining Need 6,585 FSEOG 1,500 FWS 2,000 Direct Subsidized Loan Eligibility 3,085 Unmet Need XYZ Scholarship 1,200 Overaward (1,200) $1,885

Award Appeals Optional Written appeal process Consistently applied
Submitted in writing Notification of appeal results adjustments if approved

XYZ University Award Notification
Award Notifications COA EFC Financial need Unmet need Aid awarded to meet need How aid is disbursed When aid is disbursed Work-study hours and wage rate Conditions to retain each award Subject to availability of funds Other caveats XYZ University Award Notification

Format of Award Notifications
Can be electronic or online Can be paper Can be used to accept or reject awards Should be sent well in advance of enrollment

Financial Aid Shopping Sheet
May be used voluntarily Must be used if school agrees to comply with Executive Order 13607, Establishing Principles of Excellence for Educational Institutions Serving Service Members, Veterans, Spouses, and Other Family Members

Quick Quiz: 1. What is an overaward and when does it occur?
2. If an overaward occurs for the loan period after origination, but before disbursement of any Direct Subsidized Loan or Direct Unsubsidized Loan proceeds, the school must reduce or eliminate the overaward by doing which of the following?  Making a downward adjustment to the borrower’s loan amount  Reducing or canceling aid over which the school has control  A combination of the above  None of the above Page 69

Quick Quiz: 3. Which Title IV aid program is never adjusted to resolve an overaward?  Federal Pell Grant  Iraq and Afghanistan Service Grant  TEACH Grant Federal Work-Study 4. If the amount of a TEACH Grant in combination with a student’s other aid exceeds the student’s COA, the school can eliminate the overaward by taking one or a combination of which four actions? Page 69

Quick Quiz: 5. If the Title IV overpayment cannot be eliminated by taking one or a combination of the steps in #4 above, the school must adjust subsequent __________ payments in the same award year. 6. Is the school required to return Direct Loan funds disbursed directly to the borrower or applied to the student’s account before an overaward situation occurred?  Yes  No Pages 69-70

Quick Quiz: 7. A school can require a student to sign and return an award letter notification in order to continue processing and disbursing the student’s Title IV aid.  True  False 8. A school is required to provide the Financial Aid Shopping Sheet to students if it elects to comply with Executive Order Page 70

Learning Activity: Reviewing Your Institution’s Award Notification Page 71

Learning Activity: Reviewing Your Institution’s Award Notification
Use the NASFAA Award Letter Evaluation Tool on pages to evaluate whether your school’s award notification meets the minimum standards recommended by NASFAA’s Committee on Access and Choice. Be sure to note objectives where you are uncertain, or where some follow-up action is desirable. Page 71

Learning Activity: Reviewing Your Institution’s Award Notification
1. How does your school’s award notification measure up? 2. What changes would you recommend to help ensure your notification is an informative resource for your students? Page 71

If the school packages students based on actual enrollment data and accurate information at the time of packaging, should the school be required to recalculate the student’s award based on changes that occur at a later date?  Yes  No  Maybe Under what circumstances may you set a policy to repackage students? To not repackage students? Would the fact that classes have already started change any of your answers to the above questions? Page 72

Do you think a student’s award package should be recalculated if a private scholarship or other estimated financial assistance is received after the award year is over? Page 72

Packaging and Notification of Awards A NASFAA Authorized Event Presented by Donna Quick Vice President of Enrollment and Marketing Emmanuel College.

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Packaging and Notification of Awards A NASFAA Authorized Event Presented by Donna Quick Vice President of Enrollment and Marketing Emmanuel College.

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