Using Professional Judgment Using Professional Judgment for for

Cost of Attendance (COA)Cost of Attendance (COA)

Lamar D. RichardsonLamar D. Richardson

Duke University Fuqua School of BusinessDuke University Fuqua School of Business

NCASFAA 2007 FALL CONFERENCENCASFAA 2007 FALL CONFERENCE

AgendaAgenda COA Development:COA Development:

Federal GuidelinesFederal Guidelines Institutional GuidelinesInstitutional Guidelines

COA – Allowable ItemsCOA – Allowable Items A PJ PartyA PJ Party PJ Issues and ConcernsPJ Issues and Concerns How to say “No” without saying “No”How to say “No” without saying “No” OptionsOptions

COA Development COA Development

Number of months (nine to thirteen months)Number of months (nine to thirteen months)

Cost of living surveysCost of living surveys

Student involvement, Financial Aid CommitteesStudent involvement, Financial Aid Committees

Special circumstances based on your schoolSpecial circumstances based on your school

COA DevelopmentCOA Development

Federal Guidelines:Federal Guidelines: SFA Handbook, Volume 3, Chapter 2SFA Handbook, Volume 3, Chapter 2 Cost of Education Cost of Education

Established each year by each school’s financial aid Established each year by each school’s financial aid office. office.

Costs directly related to a student’s education that Costs directly related to a student’s education that may be met through financial aid. may be met through financial aid.

Components (allowable costs) of a COA are very Components (allowable costs) of a COA are very similar at each school, the amounts will vary similar at each school, the amounts will vary significantly from institution to institution. significantly from institution to institution.

COA Development:COA Development:

Institutional Guidelines:Institutional Guidelines: Policies such as using University Cost of LivingPolicies such as using University Cost of Living

Fee StructuresFee Structures

Graduation requirements that help dictate what Graduation requirements that help dictate what can be included in COAcan be included in COA

COA DevelopmentCOA Development Allowable itemsAllowable items

Tuition and FeesTuition and Fees Books, supplies, transportation, personal, and Books, supplies, transportation, personal, and

miscellaneousmiscellaneous Room and board or rent and utilitiesRoom and board or rent and utilities Dependent careDependent care Study abroad expensesStudy abroad expenses Disability expensesDisability expenses Employment expenses for coop studyEmployment expenses for coop study Loan feesLoan fees

PJ PJ PartyParty

Alone =Alone =

With Staff =With Staff =

PJ Issues and ConcernsPJ Issues and Concerns Medical/Dental IssuesMedical/Dental Issues

Transportation IssuesTransportation Issues

ChildcareChildcare

Lifestyle choicesLifestyle choices

Preparatory CoursesPreparatory Courses

Licensing Exams (USMLE, Bar, etc.)Licensing Exams (USMLE, Bar, etc.)

RemediationRemediation

Study AbroadStudy Abroad

How to say “No” without saying “No”How to say “No” without saying “No”Decline in a Professional Manner:Decline in a Professional Manner: Explain regulationsExplain regulations

Explain fairness and equity for allExplain fairness and equity for all

Discuss student’s other optionsDiscuss student’s other options

Appeal process, FA CommitteeAppeal process, FA Committee

Offer tissue and candyOffer tissue and candy

Other?Other?

OptionsOptions