1. Johns Hopkins University
Awarding & Packaging
Kevin Towns
Associate Director
Johns Hopkins University

2. Definitions Packaging
The process of awarding various types of financial aid without exceeding a student’s financial need or cost of attendance
Financial Need
difference between the cost of attendance and the expected family contribution; the amount of demonstrated need for a student to attend
Cost of Attendance (COA)
The average cost to attend for an academic year
Estimated Family Contribution (EFC)
Number used to determine student’s eligibility for federal student aid
Need is based on the COA of a school and the expected family contribution. The COA can vary from school to school, but the EFC is the same across all schools. For example, school As COA can be 60,000 and the student’s EFC can be 40,000 – that student has 20,000 of need. School Bs COA can be 30,000 and the student’s EFC will still be 40,000 – they do not have any need. Different awards a student is eligible for are based on the student’s need.

3. Cost of Attendance COA typically includes: Tuition and fees
Room and board (housing and meals)
Books
Transportation
Personal expenses
Loan fees

4. Cost of Attendance COA can include:
Universities can increase their COA if a student has additional expenses:
School-provided health insurance
Dependent care
Higher living expenses (off-campus)
Supplies (computer or other course requirements)
Educational programs

5. Cost of Attendance

6. Determining financial Need
Cost of Attendance
Expected Family Contribution
________________________________
Financial Need

7. Types of Aid Need-Based Aid: Non-Need Based Aid:
Federal Pell Grant, FSEOG, FWS, Direct Subsidized Loan and Iraq/Afghanistan Service Grant
These awards cannot exceed a student’s financial need
Non-Need Based Aid:
Direct Unsubsidized Loan, PLUS Loans and TEACH Grants
Can be awarded up to a student’s COA

8. Packaging Policies Schools must follow federal policies:
Must have written, published procedures for awarding all financial aid
Must notify student in writing of their award package and any time it changes
Must follow awarding guidelines (eligibility, limits, etc.)
Schools have flexibility when packaging non-Title IV aid

9. Who Is Responsible for Paying?
Student and parents have the primary responsibility for paying educational costs
Federal funds should be awarded to the neediest students
Schools must have a commitment of equitable and consistent treatment of all applicants

10. Packaging Techniques Individual First-come, First-served
A customized package based on individual costs, resources and needs
First-come, First-served
Financial aid awards are made in the order applications are received until funds are exhausted

11. Packaging Techniques Specialized for Target Groups Ladder
A strategy using separate packaging criteria for specific groups of students
Ladder
Student need is met without resorting to self-help aid (aid that must be paid back)

12. Packaging Techniques Self-Help Absolute/Fixed-Percentage Equity
Aid that must be paid back (loans) are awarded before consideration for gift aid
Absolute/Fixed-Percentage Equity
Students are funded up to a school’s predetermined amount/percentage of gift aid before remaining need is met with self-help aid

13. Award Limits Minimum Maximum Federal Pell Grant $0 $6,095
Federal Supplemental Education Opportunity Grant
$100
$4,000
Federal Work Study
No annual limit, cannot exceed financial need
Federal Loans
$5,500 1st year ($3,500 subsidized; additional $4,000 unsubsidized for independent students)
$6,500 2nd Year ($4,500 subsidized; additional $4,000 unsubsidized for independent students)
$7,500 3rd & 4th Year ($5,500 subsidized; additional $5,000 unsubsidized for independent students)
$20,500 Graduate/Professional
Perkins: Cannot award to Grad after 9/30/2016. Cannot award to UG after 9/30/2017

14. Questions?
Remember, FAFSA is available starting October 1!!!!!!!!!!!