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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
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Lesson 1: Student Budget Construction
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Introduction to Budgets
Cost of Attendance EFC Financial Need EFA EFC Remaining Financial Need EFA Remaining Eligibility
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Student Budget Construction
Purposes Principles Realistic Accurate Projection Equitable Comprehensiveness Reasonableness Systematic Development Documentation
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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
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Transportation Options / Distance
Setting Costs Housing Options Cost of Living Transportation Options / Distance
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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
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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
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Selection of data source(s)
Collecting Data Selection of data source(s) Actual or Average Frequency of collection Number of subcategories
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Lesson 2: Cost of Attendance Components and Restrictions
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General Concepts for Developing Budgets
Part F, Section 472, of the Higher Education Act of 1965 (HEA) identifies costs that may be included
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Basic COA Components Tuition and fees Books and supplies
Room and board Transportation Miscellaneous personal expenses
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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
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Basic COA Components Tuition and fees
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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
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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
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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
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Miscellaneous Personal Expenses
Basic COA Components Miscellaneous Personal Expenses Reasonable allowance Examples include: Clothing Hygiene and grooming Recreation
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Personal Computer Allowance
Basic COA Components Personal Computer Allowance HEA 472
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Room and Board Allowance
Basic COA Components Room and Board Allowance HEA 472
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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
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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
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Additional COA Allowances
Cooperative Education Credit-bearing program combining professional work experience with academic research and coursework Reasonable costs associated with employment Documentation
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Additional COA Allowances
Study Abroad Approved for credit by home institution Reasonable costs associated with study Documentation
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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
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Additional COA Allowances
Educational Loan Fees Actual or average cost Required for any Direct Loan borrowed At option of institution for nonfederal educational loans
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COA Restrictions Tuition and Fees Books and Supplies Room and Board
Transportation Miscellaneous
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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
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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
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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
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COA Restrictions Correspondence Study Tuition and Fees
Books and Supplies Room and Board Transportation Personal Computer Miscellaneous
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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
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COA Restrictions Correspondence Study Tuition and Fees
Must reflect actual costs assessed by institution Books and Supplies Room and Board Transportation Personal Computer Miscellaneous
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Incarcerated Students
COA Restrictions Incarcerated Students Tuition and Fees Books and Supplies Room and Board Transportation Miscellaneous
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Lesson 3: Recalculations and Non-Title IV Aid
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Required COA Recalculations
Federal Pell Grant Federal Pell Grant IASG IASG TEACH Grant TEACH Grant
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Required COA Recalculations
Semester 1 Semester 2 Semester 3 Required COA Recalculations Enrollment Status Change Enrollment Status Change
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Required COA Recalculations
Completed CLASS A Completed CLASS B Withdrew CLASS C No Show CLASS D
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Required COA Recalculations
EFA includes campus-based aid Overaward COA
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Required COA Recalculations
Direct Loan < ½-time ≥ ½-time
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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
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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
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Non-Title IV Aid Impact on COA
COA Components Tuition Waiver Tuition and Fees EFA Books and Supplies Room and Board Transportation Misc./Personal
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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
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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
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– OR – Non-Title IV Aid Impact on COA Room and Board Waiver
COA Components Tuition and Fees – OR – Books and Supplies Transportation Misc./Personal
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