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HEDW Regional Conference NYC - Net Price Cost Calculator

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Higher Edcuation Data Warehousing Forum Regional Conference in NYC - August 2010. How SUNY is implementing the net price cost calculator using data warehousing and star schemas

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HEDW Regional Conference NYC - Net Price Cost Calculator

  1. 1. New Federal Mandate: Net Price Cost Calculator HEDW Regional Meeting – New York City August 23, 2009 Helen Ernst Assistant Director, Systems Development for Business Intelligence and Data Warehousing [email_address]
  2. 2. Session Introduction <ul><li>The Higher Education Opportunity Act of 2009 (HEOA) requires all higher education institutions to post a Net Price Calculator on their websites by November 2011. In this session we will briefly review the requirements based on the HEOA act, then delve into the Data Warehousing and Business Intelligence projects underway at the State University of New York System Administration to provide an enhanced and flexible calculator for it's 64 campuses. Ample time will be left at the end of the session to have an open discussion on how other schools are providing this functionality. </li></ul>
  3. 3. Higher Education Opportunity Act <ul><li>Signed into law August 14, 2008 </li></ul><ul><li>Some provisions must be implemented within a year - others within three years </li></ul><ul><li>HEOA expands the student financial aid information reported by campuses, including a ‘net’ price of attendance. </li></ul><ul><li>Colleges must provide students & parents a web-based “calculator” for estimating college costs by 10/29/11 </li></ul>
  4. 4. <ul><li>The Net Price Calculator is a requirement of the Higher Education Opportunity Act Public Law 110-315, August 14, 2008 By October 29, 2011 , “each institution of higher education that receives Federal funds under title IV shall make publicly available on the institution’s website a net price calculator to help current and prospective students, families, and other consumers estimate a student’s individual net price at such institution of higher education.” SUNY will develop its own calculator, to be hosted at SUNY System Administration and accessed through each institution’s website, as well as through www.suny.edu . SUNY’s Net Price Calculator must include, at a minimum, the same data elements included in the calculator developed by the Department of Education. </li></ul>
  5. 5. College Navigator Calculator <ul><li>HEOA requires NCES to implement a multi-year tuition & fee calculator on College Navigator by August 14, 2009 </li></ul><ul><li>Colleges must implement a web-based cost calculator </li></ul><ul><ul><li>More refined than the national calculator </li></ul></ul><ul><ul><li>More complete information, e.g., living costs </li></ul></ul><ul><ul><li>Based on actual data, e.g., fees </li></ul></ul>
  6. 6. Federal Requirements
  7. 7. Federal Requirements <ul><li>enable current and prospective students, families, and consumers to determine an estimate of a current or prospective student’s individual net price at a particular institution. </li></ul><ul><li>the cost of attendance and the amount of need-based and merit-based aid available shall be calculated for the individual student as much as practicable. </li></ul>
  8. 8. Federal Requirements <ul><li>Must be completed within two years after HEOA is signed into law </li></ul><ul><li>Each institution of higher education that receives Federal funds under title IV is required to publish a calculator on the institution’s website </li></ul><ul><li>Campus choice to: </li></ul><ul><ul><li>Use college navigator website version of the net price calculator </li></ul></ul><ul><ul><li>or </li></ul></ul><ul><ul><li>Develop your own net price calculator, at a minimum, must include the same information as the national version </li></ul></ul><ul><li>including a link to the website of the Department that allows students to access the Free Application for Federal Student Aid (FAFSA) </li></ul>
  9. 9. Federal Requirements <ul><li>CALCULATION OF MULTI-YEAR TUITION. </li></ul><ul><li>The multi-year calculation must </li></ul><ul><li>allow an individual to select an institution </li></ul><ul><li>calculate an estimate of tuition and fees for each year of the normal duration of the program of study at such institution using the tuition and fees for the most recent academic year reported </li></ul><ul><li>determine an estimated annual percentage change for each year for which the calculation is made, based on the annual percentage change in your institution’s tuition and fees, for the most recent three-year period </li></ul><ul><li>calculate an estimate of the total amount of tuition and fees to complete a program of study at your institution, </li></ul>
  10. 10. SUNY’s Calculator
  11. 11. Overview of Features for SUNY’s Net Price Calculator <ul><li>The SUNY cost calculator has several features not required in the federal mandate. </li></ul><ul><li>By asking additional applicant characteristics, a more accurate determination of aid can be found. </li></ul><ul><li>The estimated total price of attendance for one year will be separated into 7 categories as compared to 4 in the federal mandate;1) tuition, 2) required fees, 3) books and supplies, 4) room and board, 5) personal expenses, 6) transportation, 7) other expenses. </li></ul><ul><li>The SUNY calculator will provide estimated costs for full time students, both freshman and transfer. </li></ul><ul><li>The SUNY calculator will include separate estimates for need-based and merit-based aid. </li></ul>
  12. 12. SUNY Data Warehouse <ul><li>In order to provide data to the cost calculator, SUNY has initiated several sub-projects: </li></ul><ul><ul><li>Collection of new Financial Aid Submission from Campuses </li></ul></ul><ul><ul><li>Collection of new Student Revenue Submission from Campuses </li></ul></ul><ul><ul><li>ETL (Extract, Transform & Load) new star schema with aggregated data for use by the net price cost calculator </li></ul></ul>
  13. 14. Overview of Features for SUNY’s Net Price Calculator <ul><li>The SUNY calculator will include estimates for loans and work-study </li></ul><ul><li>By requesting grade point averages and test score data, the SUNY calculator can provide a more accurate estimation of merit-based aid. </li></ul><ul><li>Calculator will provide an estimate for 4 years of education using the HEPI index, and will also allow the user to input a expected inflation factor. </li></ul><ul><li>Calculator will include a link to redirect user to the contact page for the campus: “If you wish to have a representative from <name of institution> contact you, please click here .” </li></ul><ul><li>Calculator will include a print option : “Please print this page for your records.” </li></ul>
  14. 15. Calculator Input <ul><li>The application will ask the user questions to determine family financial status and optionally, student admission characteristics. It will then use this information to find comparable enrolled students price of attendance and financial aid data found within the cost calculator data warehouse. </li></ul>
  15. 16. User questions to determine student dependency status <ul><li>What is the age of the student? This will be a drop down box, with the options of ‘under 24’ or ’24 and older’ </li></ul><ul><li>Are you (the student) married? This will be a drop down box, with the options of ‘Yes’, ‘No’ </li></ul><ul><li>Do you (the student) have any dependent children? This will be a drop down box, with the options of ‘Yes’, ‘No’ </li></ul>
  16. 17. Dependency Determination Dependent Student does not have dependent children Independent Student has dependent children Not married Independent Married Under 24 Independent 24 or older Derived Dependency Dependent Children? Marital Status? Age?
  17. 18. EFC Calculation <ul><li>The next set of questions is used to determine an estimate of parent and student contribution or EFC (Expected Family Contribution) based on the parent and student income. </li></ul><ul><li>We investigated the code that the Department of Education Net Price Calculator uses to calculate the estimated EFC and we plan to use their calculations for our initial release. This estimate uses ranges of income, an actual EFC can be determined by completing a FAFSA. Our calculator will provide the option of entering an EFC if it is known based on a FAFSA, or using our estimator. </li></ul><ul><li>Long term, we may want to develop a SUNY wide or specific campus estimated parent and student contribution amount based on an evaluation of data from the new submissions instead of, or in addition to the national numbers. The ranges of income and associated estimated contribution will be stored in a table with a year associated with each row. This will allow us to change the ranges and estimated contributions from year to year. </li></ul>
  18. 19. User questions <ul><li>If you have completed a FAFSA and know your EFC (Expected Family Contribution), enter it here. This will be a text box where a number can be entered. </li></ul><ul><li>OR </li></ul><ul><li>What is your (student) income? This will be a drop down with ranges </li></ul><ul><li>What is the income of your parent(s)? This will be a drop down with ranges </li></ul><ul><li>How many people from your family will be in college next year? </li></ul>
  19. 20. How we calculate the EFC <ul><li>We will use the EFC as entered or use income questions to calculate an EFC approximation </li></ul><ul><li>Get parent contribution number and student contribution from hard-coded arrays, based on user's input for Parent Income and Student Income: </li></ul>
  20. 21. Parental Contribution Array 32734.5 > $100,000 19118.6 $90,001 - $100,000 15663.442 $80,001 - $90,000 12010.32 $70,001 - $80,000 8408.24 $60,001 - $70,000 5394.8 $50,001 - $60,000 3200.25 $40,001 - $50,000 1469.16 $30,001 - $40,000 0 $0 - $30,000 Parent Contribution Parent Income
  21. 22. Student Contribution Array 35430.4 57121.48 14750.5 > $50,000 23128.6 29775.94 5994 $30,001 - $50,000 18880.8 21919.59 1873.1 $10,001 - $30,000 14625.9 14094.53 638 $5,001 - $10,000 10888.9 6466.44 4 $1 - $5000 1158.1 24.36 0 $0 Independent Student Without Dependents Independent Student With Dependents Dependent Student Student Income Student Contribution
  22. 23. Estimated EFC Calculation <ul><li>Based on student dependency status, perform the estimated EFC calculation. </li></ul><ul><li>Dependent student: </li></ul><ul><ul><li>EFC = parent contribution / number in college + student contribution </li></ul></ul><ul><li>Independent student: </li></ul><ul><ul><li>EFC = student contribution / number in college </li></ul></ul><ul><li>  </li></ul>
  23. 24. Residency Questions <ul><li>Where do you plan to live while attending this institution? </li></ul><ul><ul><li>On-campus (in a residence hall, dormitory, or on-campus apartment) </li></ul></ul><ul><ul><li>Living on my own or with a roommate </li></ul></ul><ul><ul><li>Living with my parents or other family members </li></ul></ul>
  24. 25. In-State/In-District <ul><li>Are you eligible for: </li></ul><ul><li>In-state tuition ( this option will only be visible for state operated campuses) </li></ul><ul><li>In-district tuition (this option will only be visible for community colleges) </li></ul><ul><li>Out of district, in state (this option will only be visible for community colleges) </li></ul><ul><li>Out of state tuition (this option will always be visible) </li></ul>
  25. 26. Student Admission Characteristics <ul><li>The next set of questions is used to more carefully determine similar students and costs based on student characteristics. These questions are optional, but by answering the questions the applicant will receive a more accurate estimation of net costs. </li></ul>
  26. 27. Student Admission Characteristics <ul><li>Will you be applying to this institution as a Freshman or Transfer Student </li></ul><ul><li>For transfer students, If known, what is your college GPA? </li></ul><ul><li>If known, enter your SAT and ACT test scores: </li></ul><ul><ul><li>SAT Math </li></ul></ul><ul><ul><li>SAT Critical reading </li></ul></ul><ul><ul><li>SAT Writing </li></ul></ul><ul><ul><li>ACT composite score </li></ul></ul><ul><li>If known, enter your high school GPA </li></ul>
  27. 28. Sample 1 year output <ul><li>Academic Year: 2008-09 </li></ul><ul><li>Estimated total price of attendance: $39,200 </li></ul><ul><li>a. Estimated tuition $10,000 </li></ul><ul><li>b. Estimated fees $16,600 </li></ul><ul><li>c. Estimated room and board: $8,500 </li></ul><ul><li>d. Estimated books and supplies: $1,250 </li></ul><ul><li>e. Estimated personal expenses: $300 </li></ul><ul><li>f. Estimated transportation: $300 </li></ul><ul><li>g. Estimated other expenses: $250 </li></ul><ul><li>Estimated need-based aid: $10,000 </li></ul><ul><li>Estimated merit-based aid: $7,560 </li></ul><ul><li>Estimated net price: $21,640 </li></ul><ul><li>(Price of attendance minus need-based and merit-based aid) </li></ul><ul><li>Estimated loans: $10,000 </li></ul><ul><li>Estimated work study: $5,000 </li></ul><ul><li>Estimated out-of-pocket price: $6,640 </li></ul><ul><li>(Net price minus loans and work study) </li></ul>
  28. 29. Open Discussion & Questions <ul><li>How are schools planning to fulfill this new requirement? </li></ul><ul><li>Where are schools in the development process? </li></ul><ul><li>What tools are being used to develop cost calculators? </li></ul><ul><li>Are schools developing their own calculators or purchasing 3 rd party options </li></ul>
  29. 30. Thank you

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