Student Financing Module

1. Student Financing Module Patti Biggs 2012 KBOR Conference June 13, 2012

2. Data Collections • Marti Leisinger, Team Leader • Elenor Buffington, Project Specialist • Patti Biggs, Project Specialist • Mary Galligan, Project Specialist

3. Agenda • Overview of Student Financing Module • Review of file structure - individual fields • Feedback throughout • Collect your thoughts and perspectives to inform direction, please.

4. Progress & Planning: Student Financing Module • First Collection – AY 2013 • Finalizing specs • Aligning with definitions in existing collections • Collecting your feedback to refine the plan • Required – Not optional • Analysis of AY13 data only to drive improvement, identify required adjustments • First year not publishable

5. Overview of the Student Financing MODULE

6. Student Financing Module • Goal: Within the KSPSD database … • To develop a module containing information necessary to address questions related to how students finance higher education • Tuition Rates - when tuition rates increase, how much of that money is going into scholarships to help students with financial need? • Student loans – how much debt do our students have to incur to attend our institutions? • Grants- help determine the potential impact of proposed changes in Pell grants • Costs-help determine how much money students are really taking out of their own pockets to attend our institutions

7. Research Questions:Student FinancingModule • “Are students being priced out of higher education?” – a frequently asked question • When tuition goes up, from where do students get resources? • Aid: % and $ received for various types of aid • Debt: Who has debt at graduation? How much? • Is there a correlation between aid received, debt incurred and retention?

8. Research Questions:Student Financing Module • Is there a shift in the types of institutions attended? • Trend comparison between populations who attended University Sector compared to Community College Sector • Trend comparison on student transfer migration • Trend comparison on the amount of courses a students takes

9. Descriptive Analysis:Student Financing Module • Who is getting aid? Who is incurring debt? What type(s) of aid, debt? How much? – • By demographic groups: • Gender • Race • Age • Home Area • Residency Status

10. Data References Data at aggregate level – useful for definitions; Likely institutions have to pull student-level data to get to aggregates * Data overlap – Based on FAFSA: most, but not all, students submit * Definitions, References Consistency in Reporting Minimizing Reporting Burden

11. Most Students Complete FAFSA % All Students Completing FAFSA (2007-2008) %Full Time Students Completing FAFSA (2007-2008) Source: www.finaid.org/educators/20091014fafsacompletion.pdf

12. Population covered inStudent Financing Module • Student Financing is a module within the KSPSD AY Collection • Population = KSPSD-AY Population • Students who meet the “20th day rule” and are enrolled in courses that fulfill a requirement for formal award or stand-alone parent program. • Not Limited to those receiving Financial Aid • Includes Undergraduate & Graduate Students

13. Need Fund Type Fund Source Financial Aid

14. 3 Dimensions/Buckets of Financial Aid • Funding Source • Federal, State, Local, Institution, Outside/Private • Funding Type • Grant, Loan, Self-Help, Scholarship, Tuition Waivers • Is Award Need-Based • Need-based Award, Not Need-based Award Need Fund Type Fund Source Financial Aid

15. Examples of Financial Aid Grouped by Funding Source • Institution • University Loans • Endowment Loans • Scholarships • Tuition Waivers • Private / Community Organizations • Private Loan • Private Merit-based gift/scholarship • Membership-related • Federal • Pell (Fed Grant) • SEOG (Fed Grant) • FWS (Self-Help) • Perkins (Loan) • Stafford Loans (Loan) • Unsubsidized Loans • PLUS Loans • State, Local • State Scholarships • Local Scholarships (

16. Examples of Financial Aid Grouped by Funding Types • Scholarships • State Scholarships • Institution Group-based Scholarships (athletics, minority,etc.) • Private Merit-based gift/scholarship • Tuition Waivers • Grants • Pell (Fed - need) • SEOG (Fed - need) • Loans • Perkins • Stafford Loans • Unsubsidized Loans • University Loans • Private Loan • Self Help • FWS (Fed - need) • KCWS (State-need)

17. Financial Aid: Need-based Award? • Need Based Awards • College-funded or college-administered award from institutional, state, federal, or other sources for which a student must have financial need to qualify. This includes both institutional and non-institutional student aid (grants, jobs, and loans). • Need-based scholarship or grant aid: Scholarships and grants from institutional, state, federal, or other sources for which a student must have financial need to qualify. • Need-based self-help aid: Loans and jobs from institutional, state, federal, or other sources for which a student must demonstrate financial need to qualify.

18. Financial Aid: Need-based Award (continued) • Non-Need-based Awards • Non-need-based scholarship or grant aid: Scholarships and grants, gifts, or merit-based aid from institutional, state, federal, or other sources (including unrestricted funds or gifts and endowment income) awarded solely on the basis of academic achievement, merit, or any other non-need-based reason. Definition: CDS

19. Need Fund Type Fund Source Financial Aid

20. Tuition Waivers • Student Financing Module will replace Tuition Waiver Collection • Undergraduate and Graduate Students • Per Person per Reporting Period record • By Type of Waiver, Amount of Waiver • Will enable continued reporting of Number of Waivers, Unduplicated Counts of Students, Aggregate amount of Waivers – all by Waiver types • NOTE: Summer Reporting period (leading versus trailing) consideration

21. Need Fund Type Fund Source Financial Aid

22. Cash Payments - EFC • EFC – Student & Family contribution • hope from ISIR

24. Cost of Attendance • Tuition & Fees – Actual … feedback? • Tuition • Actual Tuition dollars charged • SIS Accounts Receivable ? • Fees • Actual Fee dollars charged • All Fee Charges • SIS Accounts Receivable? • Per Person – Per Reporting Period

25. Cost of Attendance • Tuition & Fees - Budgeted • Per Person – Per Reporting Period • Tuition • Budgeted Tuition dollars estimated • COA publications • Fees • Budgeted Fee dollars estimated • COA publications

27. Cost to Attend • Room Expense - - Board Expense • Per Person – Per Reporting Period • Dollar amount of Room expenses • Dollar amount of Board expenses …included in student budget on which financial aid package was based • “ISIR Hope” • For those without FAFSA, use the “estimate” published in total cost of attendance

29. Cost to Attend • Books & Supplies • Per Person – Per Reporting Period • Dollar amount of books and supplies expenses included in the student budget on which the financial aid package was based • “ISIR Hope” • For those without FAFSA, use the “estimate” published in total cost of attendance

31. Cost to Attend • Transportation Expenses • Personal Expenses • Miscellaneous Expenses • Per Person – Per Reporting Period

32. Student Financing Module Data ElementS

33. Student Financing Module • Sections of Module • Who is Student, Describe Student/Enrollment • What are costs? • What is Student’s Financing Package? • Crosses other collections • Leverage, Reference Data Sources • Minimize burden, Gain valuable information

34. Student Financing Module • Sections of Module • Who is Student, Describe Student/Enrollment • What are costs? • What is Student’s Financing Package?

35. WHO is student/describe enrollment • In the AY Collection already: • Student Demographics / Descriptors • Reporting Period • Student’s Dependency Status • Campus Residency

36. WHO Data Elements Already Captured – KSPSD AY • KSPSD-AY Collection in “Students Information” • SSN • College Assigned ID Number • FICE ID • Term • Term Year • First, Middle, Last Name • Sex Code/Gender • Date of Birth • One record Per Person

37. WHO Data ElementREPORTING PERIOD • Reporting Period • Reporting term of Record SU = Summer FA = Fall SP = Spring • This field cannot be left blank REPORTING_TERM VARCHAR2(02)

38. WHO Data Element Reporting Period & Summer Term • Summer Term Consideration - feedback • Option 1: Standard SU-FA-SP like all other collections • Option 2: Summer Flag (Do we need 2 different reporting periods?) • Enter whether the summer term you are reporting on a leading or trailing summer. 1 = An academic year with a leading summer = SU+FA+SP. (KHEDS reporting consistency) 2 = An academic year with a trailing summer = FA+SP+SU. (Financial Aid Year consistency)

39. WHO Data ElementDEPENDENCY STATUS • Dependency Status • Student's financial dependency status per the FAFSA. • IND = Independent • DEP =Dependent • UNK = Unknown • This field cannot be left blank. DEPENDENCY VARCHAR2(03)

40. WHO Data ElementCAMPUS RESIDENCY • Campus Residency • Indicate the student’s expected living location while attending classes per the FAFSA. • ON = On campus • OFF = Off campus • OFW = Off campus with family • This field cannot be left blank. CAMPUS_RES VARCHAR2(03) ISIR FIELDS #140, 142, 144, 146, 148, 150, 152, 154, 156, 160: 1=On campus; 2=W-Parent; 3=Off campus, blank ISIR Housing Plan linked with FICE ID for institution

41. Student Financing Module • Sections of Module • Who is Student, Describe Student/Enrollment • What are costs? • What is Student’s Financing Package?

42. 2. What are costs? • Per Student per Reporting Period • Actual Tuition * Actual Fees • Estimated Tuition * Estimated Fees Estimated Room * Estimated Board • Estimated Books & Supplies • Estimated Transportation Expense • Estimated Personal Expenses • Estimated Miscellaneous Expenses

43. COST Data ElementsTUITION & FEES CHARGED • Actual Tuition Charged- Actual Fees Charged • The dollar amount of total tuition • The dollar amount of total fees • …charged to the student for the reporting period. • Include all amounts the student was assessed for enrolling in classes. • Include items such as online fees, lab fees, enrollment fees, student activity fees, etc. • By Reporting Period • This field cannot be left blank. *TUITION NUMBER(9) *SIS Accts Recv’bl *FEES NUMBER(9) *SIS Accts Recv’bl

44. COST Data ElementsTUITION & FEES CHARGED • Estimated Tuition Charged • Estimated Fees Charged • Dollar amount of tuition • Dollar amount of fees • …included in the student budget on which financial aid package was based. • Components of Total Cost of Attendance • By term enrolled • This field cannot be left blank. FAP_TUITION NUMBER(9) FAP_FEES NUMBER (9)

45. COST Data ElementROOM & BOARD • Room • Dollar estimate of Room expense per Reporting Term • Estimated Cost per Financial Aid package • Component of Total Cost of Attendance • Will vary by Anticipated Residence • Board • Dollar amount of Board per Reporting Term • Estimated Cost per Financial Aid package • Component of Total Cost of Attendance • Will vary by Anticipated Residence • Cannot be left blank FAP_ROOM NUMBER(9) FAP_BOARD NUMBER(9)

46. COST Data ElementBOOKS & SUPPLIES • Books & Supplies • Estimated dollar cost for books and supplies expenses included in the student budget on which financial aid package was based. • Component of Total Cost of Attendance • This field cannot be left blank. FAP_SUPPLIES NUMBER(9)

47. COST Data ElementTRANSPORTATION EXPENSE • Estimated dollar cost for Transportation Expenses included in the student budget on which financial aid package was based. • Component of Total Cost of Attendance • This field cannot be left blank. FAP_TRANSP NUMBER(9)

48. COST Data ElementPERSONAL EXPENSE • Estimated dollar amount for Personal Expenses included in the student budget on which financial aid package was based. • Component of Total Cost of Attendance • This field cannot be left blank. FAP_PERSNL NUMBER(9)

49. COST Data ElementMISCELLANEOUS EXPENSES • Estimated dollar amount of any other items that your institution includes in the student budget on which financial aid package was based. • Component of Total Cost of Attendance •  This field cannot be left blank. FAP_MISC NUMBER(9)

50. Student Financing Module • Sections of Module • Who is Student, Describe Student/Enrollment • What are costs? • What is Student’s Financing Package?