Undergraduate Cost of Attendance

Heather McDonnell

Sarah Lawrence College

Cost of Attendance

Determined by law

HEA Act Section 472

“The cost of education is the estimate of a student’s educational expenses for the period of enrollment”

Reasonable as determined by the institution

Cost of Attendance

The Cornerstone

COA

Minus EFC

Minus Resources

Equals Financial Need

Basics of Attendance

Must be reflective of “real” costs

The “Billables” Tuition Fees Dorm charges or rent & utilities Meal plan

Basics of Attendance

Must be reflective of the possible costs

The “non Billables” Books Supplies Travel Personal needs

Additional COA Allowances

Only if applicable: Dependent care Study Abroad Disbability needs Co-op related expenses Required loan fees Telecommunications

Basic Components

Tuition and Fees Tuition for the same courseload (can be average) Mandatory fees (required of all)

College Equipment Student Association Lab Studio Health Transportation Athletic

Basic Components

Book and Supplies Average costs can be used

Campus or local bookstore Local merchants

Average costs related to a curriculum Film students are required to produce an 8 minute reel

($1,200 per reel to develop) Computer purchase

A Word About Computers

COA amounts are determined by the institution

Adding a computer purchase is at the discretion of each institution

Can do it case by case (PJ) Is there a computer center on campus?

Room and Board

Need to know the student’s living arrangements On campus

Direct and billable charges Off campus but not with a relative

Actual or average rent, utilities and groceries Off campus with a relative

Maintenance costs $ per square foot Meals while on campus

Travel

Intended to cover the cost between the institution and the student’s primary residence

How many times per year Modest and economical travel by public means Align with residence calendar

Closed during winter break International students?

Personal Expenses

Reasonable upkeep Clothing

Change of climate from primary residence to institution Grooming

Pretty PLEASE! Medical and Dental Expenses

Maintenance and prescriptive Recreation

Modest and reasonable

Additional Allowances

Dependent care

Both Elderly and Child Care Affecting class, study, internship and commuting time

Actual expenses incurred Documentation easily obtained

Not to exceed reasonable costs in the community Not financing expensive choices

Additional Allowances

Study Abroad programs Increased transportation

Initial and recreational Visa and passport

Medical insurance Many insurance companies do not cover overseas

medical expenses

Disability

Special Services

Not covered by any one else

Personal assistance Adaptive equipment Medical needs Transportation

Loan fees and Telecommunications Loan fees actually assessed

DL. FFEL, and private Can use the average of borrowers assessed fees by

loan type

Distance Learning Tuition, fees and books & supplies, if required Travel, room and board

Only if specifically incurred while fulfilling residential training

Post Enrollment Expenses

Absolutely NOT!

Other Factors

Periods of Enrollment greater than 9 months Find the monthly cost (divide COA by 9)

36000 = 4000

9

Multiply 4000 by the extra months enrolled

Guiding Principles

After “reworking” a student’s COA

WHAT RESOURCES DO YOU HAVE TO MEET THE NEW UNMET NEED?

Guiding Principles

Nothing shall be construed to limit our professional judgment

Document (paper trail)

Case by case basis

Professional Judgment

Documentation may include but is not limited to: A statement from the student or parent describing the

unique circumstance; Receipts, copies of statements—such as a credit card

statement, utility bills, rent receipts, lease, cancelled checks, print of computer screen; and/or

Other third party documentation—such as car repair estimates, statements from faculty /staff, doctors, lawyers, or others who know the student’s situation.

“Reputable, disinterested, third-party individual

Acceptable Documentation

Statement from student regarding mileage to and from classes

Statement from mechanic for car repair(s) Copy of mechanic bill Public transportation receipts Airfare receipts

Guidelines

Reasonable

rea·son·able   Function: adjective1 a : being in accordance with reason <a reasonable theory> b : not extreme or excessive <reasonable requests> c : MODERATE, FAIR <a reasonable chance> <a reasonable price> d : INEXPENSIVE2 a : having the faculty of reason b : possessing sound judgment <a reasonable man>

Merriam-Webster Dictionary

How do you determine “reasonable” “Modest but adequate” National or regional data BLS Regional adjustments College Board Information Survey of your students provides best

information

Electronic SurveysI Can’t Just Go Do That! Oh, yes you can! Come with me for a tour. Surveymonkey.com or other instrument. Design survey in your office. Questions apply to your specific population. Ask as much or as little as you need. Automatically tabulated for your use. Great documentation for when callers

complain.

The Process

If using a survey web site, will pay a minimal amount per month to leave survey “open” (less than $50 when we used it)

You chose the site, and e-mail students the link and time period.

University of Georgia had 4,000+ respond out of 19,000 who received e-mail this year.

What Does it Look Like?

Can be customized for particular populations Briefer is better Sent to all aid recipients; might want to

consider all students. Automatically tabulated; very cost efficient.

What are the Results?

Very detailed, broken down by however you word questions on survey.

University of Georgia asked for class by program of study. Costs were reported to increase as class standing increased, pharmacy students spend much less than other graduate levels, off-campus has become less costly than some of our residence halls.

More Results

As you develop several years of data you can see trends in categories of students.

Some years costs actually decrease. 193 COA’s at the University of Georgia Books and living expenses vary for

undergraduate, graduate, law, vet-met, pharmacy, etc. as well as tuition differences.

Resources

NASFAA Cost of Attendance Monograph, revised June 2007 – EXCELLENT!

Bureau of Labor Statistics – Consumer Expenditure Survey http://www.bls.gov/cex/home.htm#overview

The College Board Living Expense Budget http://www.collegeboard.com/highered/res/leb/leb.html

Search: electronic survey sites – definitely review list of 20 ways to design a good survey

Thank you for your kind attention