the abc's of coa and efc no numbers or...

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Learning LinksThe ABC’s of COA and EFC

March 30, 2011

The ABC’s of COA and EFC: Exploring best practices and understanding the details

Learning Links

2© 2011 NSLP Confidential. Do not copy or redistribute without expressed written permission from NSLP.

Today’s SpeakerToday’s Speaker

Janet DodsonVice President - Policy, Research & Education

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March 30, 2011

The ABC’s of COA and EFC: Exploring best practices and understanding the details

Learning Links

March 30, 2011


Instructions and Helpful InformationInstructions and Helpful Information

• Listen-only mode. You can hear us but we can’t hear you. To ask a question, you can type it into the Q&A section that’s located at the lower right-hand side of your screen.

• Increase or decrease the size of the presentation on your screen by selecting the icons at the bottom left. If you enlarge the presentation, you will see a floating tool bar which will allow you to change your view again.

• If you haven’t already downloaded the handout, you can click on the link in the chat area to access it now.

• If you have questions about the audio or visual portions of the presentation, you can send your question via the chat area that is on the right side of your screen.

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Today’s FocusToday’s Focus

Dependent Student EFC CalculationDependent Student EFC Calculation

Consumer InformationConsumer Information

Survey InstrumentsSurvey Instruments

Cost of AttendanceCost of Attendance

COST OF ATTENDANCE

COST OF ATTENDANCE

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Cost of AttendanceCost of Attendance

DefinitionDefinition ComponentsComponents LimitationsLimitations

Training TipSection 472 of the Regulations is a great resource!


Definition Definition

• Cost of Attendance is:

– Developed and published by the school

– Is an estimate of how much money will be required to attend school for one academic year

– Includes all reasonable expenses

Training TipDon’t do this alone - ask your Institutional Research Office to help.

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ComponentsComponents

Cost of Attendance

Cost of AttendanceTuition Tuition

FeesFees

RoomRoom

Board Board Books and supplies

Books and supplies

TransportationTransportation

Personal expenses Personal expenses

Miscellaneous Miscellaneous



Tuition

• Actual• Weighted average

Fees

• Assessed to all• Categories

• Direct Loan borrowers• Required of all in a specific major

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Room

• Average room charge• Double occupancy

Board

• Common plan• Average cost



Books

• Overall average• Categories of students

Supplies

• Overall average• Categories of students

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Personal Expenses

• Food (outside of board costs)• Personal hygiene products• Clothing• Entertainment• Household needs

Training TipAsk student employees in the Financial Aid Office and Admission Office to keep a expense diary for a month!



Transportation

• Fuel• Vehicle maintenance• Reasonable costs

• May include transportation between student’s residence and school

• May include travel necessary to complete a course of study

• Vehicle payments may not be included

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ComponentComponent

Other expenses

• Child or Elder care• Students with disability costs• Medical expenses • Computer purchase• Study Abroad • First professional credential



Educational Loan fees

Federal education loans• Required to be included• Actual or Average• If student declines the loan

• School must ensure no over award

Nonfederal Loan• Optional• Must use actual loan fee amount

Training TipDocument in your P & P how loan fees are treated.

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Study Abroad

• Reasonable costs associated with program• Approved for credit by student’s home school

Training TipVisit with the Study Abroad Coordinator for assistance in better understanding costs associated with study abroad.


LimitationsLimitations

Less than Half-time Students

– Tuition and fees

– Books, supplies, and transportation

– Room and Board*

– Dependent care

– Disability• Using Professional judgment

• Be sure to collect proper documentation

* At the school’s option with mandated time limits

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Correspondence Program


– Required books and supplies

– Transportation, room and board• Only if experienced during required period of

on-site residential training



Incarcerated Students


– Required books and supplies

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SURVEY INSTRUMENTS

SURVEY INSTRUMENTS


SurveysSurveys

• Survey 100

• Survey tools and resource examples

• Motivating responses

• Understanding the results

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Survey 100Survey 100

Microsoft Word’s Thesaurus suggests other words for Survey as…

– Review

– Study

– Investigation

– Analysis

– Scrutiny

– Canvass

– Probe



First known U. S. survey conducted in 1790 – U.S. Census

Growth came after WWII– People wanted options

The sample should be a cross section of the total population

Online surveys provide the best of all survey worlds– Provides for flexibility, freedom, and it’s

convenient, too

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Why survey?– School needs documentation to

support costs with your various student budgets

– School populations change – Costs associated with the COA

components change– Equity among students– Confirm costs are realistic – Determine cost projections are

accurate



Provide a brief

introduction

Describe the intention of the research

Share the length of time

needed to complete it

Explain why their

feedback is important

Practice the KISS method

Keep it shortand simple

Always conclude

with a thank you!

Training TipEvery single question should tie back to your survey objective(s).

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Why Survey OnlineWhy Survey Online

Benefits

• Time saver

• Money saver

• Online question development assistance

• Quick feedback

• Charts and graphs

• Flexibility

Drawbacks

• Not all respond to online request

• Technical glitches

• May get bogus answers

• May need artistic and layout skills


Survey Tools and ResourcesSurvey Tools and Resources

Survey Monkey– BASIC (free!): 10 questions per survey, 100 responses

per survey, real-time results

– SELECT ($16.99/month, billed $199 annually): BASIC features + unlimited questions and responses, custom designs, enhanced security, skip-logic, and printable PDF.

– GOLD ($24.99/month, billed $299 annually): SELECT features + advanced logic features, text analysis

– PLATINUM ($64.99/month, billed $779 annually): GOLD features + complete brand control with research.net

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Kwik Surveys– Free survey-making service

– No time limits or answer limits

– Unlimited questions

– Capable of an upgrade to include customer support



Zoomerang

– BASIC (free!): 12 questions per survey, 100 responses per survey

– PRO ($199/year): Unlimited questions/responses, professional survey templates, advanced survey creation tools

– PREMIUM ($599/year): Multi-user collaboration and sharing, advanced statistical analysis, secure surveys

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LimeSurvey– Free!

– Unlimited number of surveys at the same time

– Unlimited number of questions in a survey

– Unlimited number of participants to a survey

– Multi-Lingual Surveys

– 20 different question types


Types of QuestionsTypes of Questions

• Check box

• Closed-end

• Constant sum

• Dichotomous

• Multiple-choice

• Multiple-select

• Open-ended

Training TipRemember validity – do the questions measure what is intended to be measured?

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Asking the QuestionAsking the Question

Within your survey consider:

– When the question is asked

– The words used to ask the question• Could

• Should

• Might

– How the question is asked

Training TipQuestions without direction typically give respondents latitude with their answers.


Understanding Participant ActionsUnderstanding Participant Actions

• Affirmative consent

• Completed

• Completion rate

• Drop-outs

• Response rate

• Abandonment

Training TipRemember to reinforce the importance of accurate responses in your messaging.

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CONSUMER INFORMATION

CONSUMER INFORMATION


Consumer InformationConsumer Information

• Comprehensive

• Fairly constructed

• Methodical development

• Documentation

Training TipMaintain documents that confirm how the school created student budgets.

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ResourcesResources

• Online Surveys for Dummies

– Vivek Bhaskaran and Jennifer LeClaire

• www.ehow.com keyword search surveys

• The EFC Formula, 2011-2012

• HEA Sec. 472

DEPENDENT STUDENT EFC CALCULATION

DEPENDENT STUDENT EFC CALCULATION

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2011-2012 EFC FORMULA A: DEPENDENT STUDENT2011-2012 EFC FORMULA A: DEPENDENT STUDENT



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QuestionsQuestions

If you have any questions, you may send them via the Q&A area that is on the right side of your screen. We will provide answers in a

Q&A document after the webinar.

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EvaluationEvaluation


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Contact UsContact Us

800.735.8778

[email protected]

www.nslp.org

About NSLPFor more than 20 years NSLP has been innovating the products and services schools need to help their students succeed. From financial literacy education and repayment and default management solutions to call center support and Federal compliance and regulatory services, our passion stems from your success.


CEU and Certificate RequestsCEU and Certificate Requests

To Download a Certificate of Completion:

If you are AFC certified, you may receive 1 CEU for today’s Learning Links. Please email Linda Butcher at [email protected]. We’ll verify that you attended the entire webinar and completed the evaluation and send your name to them.

1CEU

Click on the link in the chat area

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THANK YOU!

the abc's of coa and efc no numbers or...

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