Undergraduate Cost of Attendance

1. Undergraduate Cost of Attendance Heather McDonnell Sarah Lawrence College

2. 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

3. Cost of Attendance • The Cornerstone COA Minus EFC Minus Resources Equals Financial Need

4. Basics of Attendance • Must be reflective of “real” costs • The “Billables” • Tuition • Fees • Dorm charges or rent & utilities • Meal plan

5. Basics of Attendance • Must be reflective of the possible costs • The “non Billables” • Books • Supplies • Travel • Personal needs

6. Additional COA Allowances • Only if applicable: • Dependent care • Study Abroad • Disbability needs • Co-op related expenses • Required loan fees • Telecommunications

7. 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

8. 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

9. 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?

10. 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

11. 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?

12. 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

13. 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

14. Additional Allowances • Study Abroad programs • Increased transportation • Initial and recreational • Visa and passport • Medical insurance • Many insurance companies do not cover overseas medical expenses

15. Disability • Special Services • Not covered by any one else • Personal assistance • Adaptive equipment • Medical needs • Transportation

16. 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

17. Post Enrollment Expenses • Absolutely NOT!

18. 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

19. Guiding Principles • After “reworking” a student’s COA • WHAT RESOURCES DO YOU HAVE TO MEET THE NEW UNMET NEED?

20. Guiding Principles • Nothing shall be construed to limit our professional judgment • Document (paper trail) • Case by case basis

21. 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

22. 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

23. 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 reasonb : possessing sound judgment <a reasonable man> Merriam-Webster Dictionary

24. 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

25. 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.

26. 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.

27. 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.

28. 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.

29. 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.

30. 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

31. Thank you for your kind attention