1. The Language of Financial Aid
College Board Forum
New York City, NY
October 27, 2011

2. The Language of Financial Aid
C. Anthony Broh, Broh Consulting Services, LLC
Alison Rabil, Asst. Vice Provost, Duke University

3. Higher Ed’s Own Language
Cost Language
Price Language
Financial Aid Speak
Payment Language

4. Some Graphic Background

5. Some Graphic Background

6. Some Graphic Background
Equivalent Concepts

7. Higher Ed’s Own Language
Cost Language
Price Language
Financial Aid Speak
Payment Language

9. Cost Language
How much does it COST to provide one year of education for one person?

10. Institutional Cost Trends

11. Higher Ed’s Own Language
Cost Language
Price Language
Financial Aid Speak
Payment Language

13. Price Language
What is the PRICE a student pays in a “Comprehensive Fee” of Tuition, Fees, Room, Board each year?

14. Price Trends

15. Higher Ed’s Own Language
Cost Language
Price Language
Financial Aid Speak
Payment Language

17. Financial Aid Speak
How much does this FINANCIAL AID package do to help a student pay for college this year?

18. Financial Aid Speak Expected Family Contribution Student Budget Award
Package
Gap
Merit-based Aid
Need-based Aid
Need
Need-blind Admissions

19. Financial-Aid Speak
Evolve from the work that Financial Aid Administrators do
Are accurate for an earlier era
Are Institution centered
Are not consumer friendly
Are often misunderstood
Are sometimes misleading

20. Higher Ed’s Own Language
Cost Language
Price Language
Financial Aid Speak
Payment Language

21. Payment Language
What is the PAYMENT a family will make for each year of college?

23. Payment Language Price of Attendance Net Price Scholarships Grants
Family Resources
Student Resources
Parent Resources
Past Resources
Current Resources
Future Resources

24. Payment Language

25. Discussion 1: Jobs

26. Discussion 2: Loans

27. Discussion 3: Debt

28. The Language of Financial Aid
C. Anthony Broh, Broh Consulting Services, LLC
Alison Rabil, Asst. Vice Provost, Duke University

29. What can financial aid do?
Provide translations: Net Price Calculator
Disseminate information in a variety of ways
Tailor information to different audiences.
Standardize award letters

30. What can guidance counselors do?
Learn how financial aid works
Create partnerships with area colleges and universities
Tell financial aid administrators what you need and how you need it
Teach families how to navigate the system and manage the process.

31. What should parents and students do?
Research which schools are the “best fit”
Research financial aid policies
Apply by the deadline
Conduct family discussion about priorities in choosing a college and obligations in paying for a college

32. What should parents and students do?
Compare calculated parent contributions and loan amounts
Discuss the financial aid package with the school you want to attend
Prepare to explain financial circumstances not represented in the forms you filled out.

33. The Language of Financial Aid
C. Anthony Broh, Broh Consulting Services
Alison Rabil, Asst. Vice Provost, Duke University