1. “You can get a loan!” Is that really all there is to it? Working with Graduate Students. Elizabeth Milam Lomas, Clemson University Ben May, Wake Forest University Tony Patterson, UNC-Chapel Hill Fall 2006 NCASFAA/SCASFAA Conference

2. Today’s session! **Topics** Cost of attendance Budget Add-ons Revisions & Adjustments Communication & Information Why it all matters!

3. Cost of Attendance **Living expenses** What is your responsibility? How much is too much? What are your peer schools doing?

4. Cost of Attendance Generally is: Tuition and fees normally assessed for a student carrying the same academic workload. An allowance for books, supplies, transportation, and miscellaneous personal expenses. An allowance for room and board. Vol. 3, 2006-2007 Federal Student Aid Handbook

5. Cost of Attendance What are your peers doing? UniversityBooksTravelRoom/ Board Misc.Total Living Allowance COL: Homefair. com UNC Equivalent COL: Moving. Com UNC Equivalent COL: Cityrating. Com UNC Equivalent Average UNC Equivalent UNC 10001278111282626160321$16,0321 1 NCSU 700085733334126070.9155$13,7710.7173$17,5761$12,607$14,651 Duke 1030082053700129350.8894$14,5440.7173$18,0331$12,935$15,170 Florida 93040075001910107400.9812$10,9460.6847$15,6860.7356$14,600$13,744 U.T. - Austin 850 80002620123200.8624$14,2860.826$14,9151.1407$10,800$13,334 UCLA 18002499123812373190531.376$13,8471.576$12,0891.2193$15,626$13,854 UVA 25330131330156660.8493$18,4460.663$23,6290.839$18,672$20,249

6. Budget Add-ons **Common allowances** Health insurance Child care Computer purchase

7. Budget Add-ons **Some No-No’s** “No, I can not add that to your budget.” “I know it is YOUR loan and YOU have to pay it back.”

8. Budget Add-ons **New change with DRA of 2005** Federal regulations now permit a one- time inclusion of the cost for a first professional credential in COA for a student in a program requiring professional licensure or certification.

9. Revisions and Adjustments What’s in a name? NOTHING! Guidance from the Feds Fellowships, Traineeships, Assistantships

10. Revisions and Adjustments “Regardless of what an award is called, what it is according to Federal and State guidelines determines how it is treated.” Guase, K. & Jones, A. (2005). The Unexplained side of resources and estimated financial assistance. NASFAA Conference 2005.

11. Revisions and Adjustments “If an award is considered employment according to Federal and State guidelines, it must be treated as employment for purposes of determining eligibility for Title IV aid.” Guase, K. & Jones, A. (2005). The Unexplained side of resources and estimated financial assistance. NASFAA Conference 2005.

12. Revisions and Adjustments Collecting the information from departments. How do you know you are getting it all?

13. Communication & Information Recruitment events Orientations Information sessions Published information Information on department websites Counseling

14. Communication & Information The first award Types of assistance Messages and assumptions What are we telling them?

15. Communication & Information Working with departments and offices Admissions Registrar Cashier Student services managers

16. Why does it all matter? Rising costs lead to higher expectations! Developing new sources of funding?

17. Why does it all matter? They may be older but they are still students first! One of the largest investments they will make!

18. Questions ??????