Cost of Attendance A NASFAA Authorized Event Presented by Stephanie Lawrence Executive Director Student Financial Services Albany State University GASFAA Winter Workshop February 24, 2017

Lesson 1: Student Budget Construction

Introduction to Budgets Cost of Attendance EFC Financial Need EFA EFC Remaining Financial Need EFA Remaining Eligibility

Student Budget Construction Purposes Principles Realistic Accurate Projection Equitable Comprehensiveness Reasonableness Systematic Development Documentation

Noninstitutional Costs Setting Costs Institutional Costs Noninstitutional Costs Tuition and fees On-campus housing Books and supplies Transportation Personal expenses Off-campus housing Utilities Medical

Transportation Options / Distance Setting Costs Housing Options Cost of Living Transportation Options / Distance

Noninstitutional Costs Collecting Data Institutional Costs Noninstitutional Costs Tuition and fees On-campus housing Books and supplies Transportation Personal expenses Off-campus housing Utilities Medical

Primary Data Secondary Data Collecting Data Directly from students: Surveys/ questionnaires Expenditure diaries Personal interviews Third-party sources: Published institutional data Faculty and staff Class project Community sources Government indices Comparisons

Selection of data source(s) Collecting Data Selection of data source(s) Actual or Average Frequency of collection Number of subcategories

Lesson 2: Cost of Attendance Components and Restrictions

General Concepts for Developing Budgets Part F, Section 472, of the Higher Education Act of 1965 (HEA) identifies costs that may be included

Basic COA Components Tuition and fees Books and supplies Room and board Transportation Miscellaneous personal expenses

Additional Cost Allowances Dependent care expenses Disability-related expenses Cooperative education program expenses Study abroad expenses Cost of a first professional credential Educational loan fees

Basic COA Components Tuition and fees

Tuition and fees Basic COA Components Tuition for Title IV recipients Allowable fees Necessary for all students within defined category If paid or passed on to third parties only if charged to broad defined category of students Up-front fee collection Cooperative education

Books and supplies Basic COA Components May be included in tuition and fees if: Rate is less than competitive market rate Provided within 7th day of payment period; or Institution documents books or supplies not available or accessible elsewhere; or Institution demonstrates compelling health or safety purpose

Transportation Basic COA Components Reasonable allowance for: Getting to school and back Other travel related to a course of study Can include operating and maintenance costs of a car, but not purchase or lease

Miscellaneous Personal Expenses Basic COA Components Miscellaneous Personal Expenses Reasonable allowance Examples include: Clothing Hygiene and grooming Recreation

Personal Computer Allowance Basic COA Components Personal Computer Allowance HEA 472

Room and Board Allowance Basic COA Components Room and Board Allowance HEA 472

Additional COA Allowances Dependent Care Benchmark = reasonable cost in the community Dependent included in household size Necessary to pay for care in order to attend class, study time, field work, or internship, or for commuting time Documentation

Additional COA Allowances Disability-related Expenses Reasonably incurred expenses related to disability Not provided for by other assisting agencies Americans with Disabilities Act (ADA) defines many types of disabilities Documentation

Additional COA Allowances Cooperative Education Credit-bearing program combining professional work experience with academic research and coursework Reasonable costs associated with employment Documentation

Additional COA Allowances Study Abroad Approved for credit by home institution Reasonable costs associated with study Documentation

Additional COA Allowances First Professional Credential Professional licensure or certification is required in field Cost incurred while student enrolled Once per student per academic program At option of institution Documentation

Additional COA Allowances Educational Loan Fees Actual or average cost Required for any Direct Loan borrowed At option of institution for nonfederal educational loans

COA Restrictions Tuition and Fees Books and Supplies Room and Board Transportation Miscellaneous

Enrolled Less Than Half Time COA Restrictions Enrolled Less Than Half Time Tuition and Fees Books and Supplies Room and Board Transportation Dependent Care Miscellaneous

Enrolled Less Than Half Time COA Restrictions Enrolled Less Than Half Time Room and Board At option of institution No more than three semesters (or equivalent) No more than two consecutive semesters

Enrolled Less Than Half Time COA Restrictions Enrolled Less Than Half Time Tuition and Fees Books and Supplies Room and Board Transportation Dependent Care Miscellaneous

COA Restrictions Correspondence Study Tuition and Fees Books and Supplies Room and Board Transportation Personal Computer Miscellaneous

COA Restrictions Correspondence Study Room and Board Only if incurred during period of on-site residential training Transportation If required by program and provided by institution Personal Computer

COA Restrictions Correspondence Study Tuition and Fees Must reflect actual costs assessed by institution Books and Supplies Room and Board Transportation Personal Computer Miscellaneous

Incarcerated Students COA Restrictions Incarcerated Students Tuition and Fees Books and Supplies Room and Board Transportation Miscellaneous

Lesson 3: Recalculations and Non-Title IV Aid

Required COA Recalculations Federal Pell Grant Federal Pell Grant IASG IASG TEACH Grant TEACH Grant

Required COA Recalculations Semester 1 Semester 2 Semester 3 Required COA Recalculations Enrollment Status Change Enrollment Status Change

Required COA Recalculations Completed CLASS A Completed CLASS B Withdrew CLASS C No Show CLASS D

Required COA Recalculations EFA includes campus-based aid Overaward COA

Required COA Recalculations Direct Loan < ½-time ≥ ½-time

Optional COA Recalculations Institutional Policies Pell Recalculation Policy “Census Date” If enrollment status change prompts a Federal Pell Grant recalculation under policy, COA must also be recalculated Institution sets other policies to recalculate COA

Non-Title IV Aid Impact on COA COA Components Tuition and Fees EFA Books and Supplies Offset to specific COA component NOT prepaid tuition plans State aid Scholarship Room and Board Transportation Misc./Personal

Non-Title IV Aid Impact on COA COA Components Tuition Waiver Tuition and Fees EFA Books and Supplies Room and Board Transportation Misc./Personal

Student’s COA Components Non-Title IV Aid Impact on COA COA Components Tuition Waiver Books and Supplies Room and Board Student’s COA Components Transportation Misc./Personal

Non-Title IV Aid Impact on COA Room and Board Waiver COA Components Tuition and Fees Books and Supplies Room and Board EFA Transportation Misc./Personal

– OR – Non-Title IV Aid Impact on COA Room and Board Waiver COA Components Tuition and Fees – OR – Books and Supplies Transportation Misc./Personal