The document discusses the importance of financial aid, particularly Title IV funds, highlighting that in 2004-05, over $60 billion assisted 10 million students, with Pell Grants as the primary federal aid source. It outlines how financial aid is structured and administered at LWIT, including considerations of cost, equitable distribution, and institutional accountability. Additionally, the document emphasizes the role of various federal and state programs in supporting student enrollment and academic progress.

1. Financial Aid 101 Why Should I Care?

2. LWIT Program Costs

3. Financial Aid @ LWIT Why Should I Care? Title IV Funds – Federal Tax Payer $ In 2004-05, more than $60 billion in various types of financial aid helped 10 million students Second largest budget (to Dept of Defense) Pell Grant (LWIT’s largest federal student aid source) accounted for more than $13 billion to more than 5 million for an average award of $2477

5. Financial Aid @ LWIT Why Should I Care? Title IV Funds – Federal Impacts Enrollment Other Federal Aid programs (i.e., Perkins) State Aid programs Accreditation

6. Philosophy of Financial Aid Getting the Right aid to the Right people at the Right time Cost of Attendance - Expected Family Contribution Financial Need Most difficult: fair and equitable Federal and State aid is formula driven Institutional aid is determined by partly by formula and partly by Scholarship Committee Community based is usually determined by organization using their own criteria

7. Data Financial Aid Resources

8. Data Financial Aid Resources

9. Data Number Served

10. Financial Aid @ LWIT Why Should I Care? Title IV Funds – Institutional Responsibility Accountability Attendance Policy and Reporting Withdrawal Information Satisfactory Academic Progress Grades Competencies Attendance Program Reviews and Audits

11. MONEY DOESN’T GROW ON TREES - NOR DOES IT ROLL … . THO SOMETIMES IT DOES GET WASTED!

12. Financial Aid Office QUESTIONS???