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CBE Business Degree Pilot --Financial aid planning 10 24-14

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Discussion of how to manage financial aid processes for CBE pilot colleges

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CBE Business Degree Pilot --Financial aid planning 10 24-14

  1. 1. CBE Financial Aid Planning Melanie Casciato- CBC mcasciato@columbiabasin.edu (509) 542-4593
  2. 2. Definitions • Academic Year for the CBE program- July 1- June 30 – 2 six month sessions – # of instructional weeks varies by enrollment entry date (but all entry points meet minimum annual requirement of 30 weeks for credit hour program) – Minimum full time enrollment each session= 20 credit hours – No part-time attendance
  3. 3. Academic Calendar • Modules- each 5 credit class can be viewed as a module – for a payment period a course or courses do not span the entire length of the period of enrollment • Nonstandard terms- defined begin and end dates for all coursework – May be unequal in length – Does not conform to normal quarter/semester schedule – Group modules together for enrollment for the entire session
  4. 4. Processing of Aid • Manually handled at each institution • Students will be coded at admission – Information on coding is available on CBE Blog • Utilizing FAM- create a sub code in award screen to track award based on entry point • Budgets and procedures will need to reflect each session entry point • Budget Code in FAM will be 99
  5. 5. Cost of Attendance Columbia Basin College Competency Based Education (CBE) 2014-15 Cost of Attendance January February March Month 1 Start Month 2 Start Month 3 Start Tuition & Fees $ 2,667 $ 2,667 $ 2,667 Room & Board $ 6,420 $ 5,350 $ 4,280 Personal Expenses $ 1,214 $ 1,012 $ 809 Fees $ 40 $ 40 $ 40 TOTAL $ 10,341 $ 9,069 $ 7,796 Manual Budget Code 99 99 99 1 Six Month Session Budget based on Entry date Budget based on Off Campus budget R&B and Personal costs R&B= 2*3210 and Personal = 2* 607 (then pro-rated for entry month)
  6. 6. Financial Aid Coding • 2 sessions each year (Example) – B453= Winter Session – B561= Summer Session • Create Award Sub Code for entry points (Example) – B453 Award Sub Code A= January Start – B453 Award Sub Code B= February Start – B453 Award Sub Code C= March Start
  7. 7. SAP (Satisfactory Academic Progress) • All students are Full Time • Students receive Grades A or B to show mastery OR • Student receives I or F – Incompletes will reflect current campus policy • I or F grades in more than one class will automatically result in cancellation of a students aid (until the grade is resolved or the student follows campus policy to reinstate aid)
  8. 8. 60% Dates • Set a census date for each session based on entry point (3 dates per session) Entry Point January 5th February 2nd March 2nd Calendar Days 166 138 110 60% # Calendar Days 99 82 66 60% Date 4/13/2015 4/24/2015 5/6/2015 • See Blue Book: Volume 5, Chapter 6 for determining withdrawal for module based program
  9. 9. Unanswered Questions? • Discussion of what SNG awards would look like: WSAC has not responded to the question of whether the awards will be the equivalent of a semester award? • Reporting requirements for Interim and Unit Record- what this will look like? • State authorization for each institution (for out of state students).
  10. 10. Questions (Continued) • Notification from accreditors on approval for new program delivery (substantive change) • Loan borrowers- reporting to the Clearinghouse based on 6 month sessions. • Department of Education- getting final approval to move forward – Nonstandard term vs. Non term – Academic program meets all financial aid criteria
  11. 11. Next Steps • Work with SBCTC in utilizing FAM • Create internal tracking for new CBE students – Create spreadsheet to collect program data • Create Policies & Procedures – Satisfactory Academic Progress – Appeal process – Withdrawal and Return of Funds • Create CBE priority deadlines/calendar

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