FINANCIAL AID Presented by: Dr. Marielena DeSanctis V.P. – Student Affairs & Enrollment Theresa Cowan Associate Vice President, Financial Aid

A Year in Review Changes to Satisfactory Academic Progress Comprehensive Needs Assessment by Consulting Firm Call Center: FA Experts for Customer Service 68,060 calls from December 15, 2014 to July 15, 2015 Program Objective Enrollment Compliance Effect of Admitted Status on Financial Aid and Completion Academic and Financial Aid Advisor Buddies 5-year Recertification: Due December 31, 2014 Periodic Program Review: March 9-13 Preliminary Findings – June 1, 2015 Preliminary Response – July 31, 2015 New Leadership: Theresa Cowan and Cherly Phillipeaux

Financial Aid Disbursed Maximum Pell Grant Award: $5,730

Who Processes the FAFSA Central Processing System FormulaData MatchesCommunication Data forms to student and institutions

The FAFSA Application The FAFSA completed by the student is sent to agencies for verification of the data FAFSA Data and Central Processing System (CPS) Social Security Admin Dept. of Homeland Security NSLDSVeterans Dept. of Justice Selective Service Dept. of Defense Due to the student picking a school code (OPE ID), the data results are transmitted to the selected institution

The FAFSA Application That data imports to the institution and is called an Institutional Student Information Record (ISIR) The ISIR informs the institution about  The Expected Family Contribution (EFC)  Data matches with outside entities  Financial Aid history of the student  Eligibility  High School data  Internal Revenue Service (IRS) data

Eligibility for Federal Aid  Have a regular high school diploma or a recognized equivalent such as a General Educational Development (GED) certificate  Register for Selective Service  United States Citizen or Permanent Resident Alien  Not in default on any Federal Student Loan  Enrolled or accepted for enrollment as a regular student in an eligible degree or certificate program  Maintain Satisfactory Academic Progress (SAP)

Purpose of the EFC The EFC is used to determine federal aid and other aid. The EFC is a number that determines the magnitude of students’ eligibility for federal student aid. The EFC formulas use the financial information students provide on their FAFSA to calculate the EFC. The EFC is a number that determines the magnitude of students’ eligibility for federal student aid. The EFC formulas use the financial information students provide on their FAFSA to calculate the EFC. Cost of Attendance (COA)22,126 EFC 1,500 Potential Amount of Need Based Aid20,626 Cost of Attendance (COA)22,126 EFC 1,500 Potential Amount of Need Based Aid20,626

Financial Aid Data: as of 8/10/2015

EFC and the COA The COA is the limit of aid a student can receive for one academic year The COA is comprised of:  Tuition & Fees  Books  Supplies  Travel  Personal Costs *All are estimated by actual student surveys The COA is comprised of:  Tuition & Fees  Books  Supplies  Travel  Personal Costs *All are estimated by actual student surveys Cost of Attendance (COA)22,126 EFC 1,500 Potential Amount of Need Based Aid20,626 COA22,126 Financial Assistance 6,800 Remaining Need15,326 Add in EFC+1,500 Potential Non Need Based Aid16,826 Cost of Attendance (COA)22,126 EFC 1,500 Potential Amount of Need Based Aid20,626 COA22,126 Financial Assistance 6,800 Remaining Need15,326 Add in EFC+1,500 Potential Non Need Based Aid16,826

Financial Aid Packaging Data Maximum Pell Grant Award: $5,775

Default Rates Fiscal YearRate TypeNumeratorDenominatorPublished Rate Year Rate % Year Rate % Year Rate % Other Institutional 3-Year Cohort Default Rates Keiser University 14.9% 18.6% 20% Miami Dade 12.2% 14.6% 19.4% Palm Beach State 19.3% 18.4% 18.1% Indian River State College 18.7% 23.3% 21.3% Award Year Broward College certified 7,283 students for Subsidized Loans for an average indebtedness of $3,026 and 934 students for Unsubsidized loans with an average of $2,770 of indebtedness.

Experimental Site Initiative: Unsubsidized Loans The experiment is intended to limit over borrowing by students at community colleges and other low-cost institutions, who sometimes are approved to borrow many times more than they need for tuition, fees and other program expenses. Broward Criteria for an Unsubsidized Loan

For your Patience and Support