[Oasfaa] averaage vs actual
Gary Garoffolo
ggaroffo at cameron.edu
Fri Sep 30 14:36:09 CDT 2016
I have always been a fan of using a simple or a weighted average whenever I can. I believe the Feds would prefer a weighted average. As far as your 4 residence halls I would use a weighted average unless the cost of each residence hall is the same;-)
Gary J. Garoffolo
Director
Student Financial Assistance | 580-581-2221
-----Original Message-----
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Today's Topics:
1. Housing component? (Jonna Raney)
2. Re: Housing component? (Kelly Hicks)
3. Re: Housing component? (Laura Coponiti)
4. Re: Housing component? (Pacheco, Caryn L.)
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Message: 1
Date: Fri, 30 Sep 2016 15:04:30 +0000
From: Jonna Raney <jonna.raney at okbu.edu>
To: "oasfaa at lists.onenet.net" <oasfaa at lists.onenet.net>
Subject: [Oasfaa] Housing component?
Message-ID:
<CY4PR02MB22481DCCC3323BC3F63B90F398C10 at CY4PR02MB2248.namprd02.prod.outlook.com>
Content-Type: text/plain; charset="utf-8"
I have always had a standard "on campus" budget. I typically used the dorm room price for the room component. We charged the same price for 3 of the 4 dorm. However, beginning next year, the dorms will all have varying prices. From my interpretation of the handbook, "An allowance for room and board. For students that aren?t
dependents living at home with their parents, this will be an allowance that you determine. For students living on campus, the allowance is the standard amount normally assessed most residents." I plan to use the average $ of the 4 different residence halls for the room component. My CFO thinks I should use the lowest cost dorm. (I do not include apartment costs in the budget calculation because more than 50% of the students live in the 4 dorms.)
Am I being too picky? How do you get your on campus room amount? I hope you don't tell me I need 10 different COA budgets because many times, we don't know where the students will live until they're moved in. [?]
Thanks in advance for your assistance.
[Oklahoma Baptist University]
Jonna Raney
Director of Student Financial Services
405.585.5020
Oklahoma Baptist University
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Message: 2
Date: Fri, 30 Sep 2016 15:45:32 +0000
From: Kelly Hicks <KellyHicks at rsu.edu>
To: Jonna Raney <jonna.raney at okbu.edu>, "oasfaa at lists.onenet.net"
<oasfaa at lists.onenet.net>
Subject: Re: [Oasfaa] Housing component?
Message-ID:
<31569A312628FC45A3A2759E383B08765122082B at RSUFSMBEXCH.rsu.edu>
Content-Type: text/plain; charset="utf-8"
Hi Jonna ? I use the average.
Kelly Hicks|Director of Financial Aid-NCAA Compliance P:918-343-7573|F:918-343-7598|kellyhicks at rsu.edu
[RSU Secondary logo]
From: oasfaa-bounces at lists.onenet.net [mailto:oasfaa-bounces at lists.onenet.net] On Behalf Of Jonna Raney
Sent: Friday, September 30, 2016 10:05 AM
To: oasfaa at lists.onenet.net
Subject: [Oasfaa] Housing component?
I have always had a standard "on campus" budget. I typically used the dorm room price for the room component. We charged the same price for 3 of the 4 dorm. However, beginning next year, the dorms will all have varying prices. From my interpretation of the handbook, "An allowance for room and board. For students that aren?t dependents living at home with their parents, this will be an allowance that you determine. For students living on campus, the allowance is the standard amount normally assessed most residents." I plan to use the average $ of the 4 different residence halls for the room component. My CFO thinks I should use the lowest cost dorm. (I do not include apartment costs in the budget calculation because more than 50% of the students live in the 4 dorms.)
Am I being too picky? How do you get your on campus room amount? I hope you don't tell me I need 10 different COA budgets because many times, we don't know where the students will live until they're moved in. [?]
Thanks in advance for your assistance.
[Oklahoma Baptist University]
Jonna Raney
Director of Student Financial Services
405.585.5020
Oklahoma Baptist University
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Message: 3
Date: Fri, 30 Sep 2016 11:10:38 -0500
From: Laura Coponiti <lcoponiti at usao.edu>
To: oasfaa at lists.onenet.net
Subject: Re: [Oasfaa] Housing component?
Message-ID: <002a01d21b35$2f0af6b0$8d20e410$@usao.edu>
Content-Type: text/plain; charset="utf-8"
We have two, one for the dorms and one for our apartments. However, my understanding is you can do an average, this is something I am looking into for our 17-18 year.
I am sure doing the lowest looks good on reports, but I think this create a hardship to your students in the higher price housing .
Laura Coponiti
Dean of Admissions and Financial Aid
Troutt 112
<http://usao.edu/> University of Science and Arts of Oklahoma
1727 West Alabama
Chickasha, OK 73018
405-574-1350 (office)
405-574-1220 (fax)
From: oasfaa-bounces at lists.onenet.net [mailto:oasfaa-bounces at lists.onenet.net] On Behalf Of Kelly Hicks
Sent: Friday, September 30, 2016 10:46 AM
To: Jonna Raney <jonna.raney at okbu.edu>; oasfaa at lists.onenet.net
Subject: Re: [Oasfaa] Housing component?
Hi Jonna ? I use the average.
Kelly Hicks|Director of Financial Aid-NCAA Compliance
P:918-343-7573|F:918-343-7598|kellyhicks at rsu.edu
From: oasfaa-bounces at lists.onenet.net <mailto:oasfaa-bounces at lists.onenet.net> [mailto:oasfaa-bounces at lists.onenet.net] On Behalf Of Jonna Raney
Sent: Friday, September 30, 2016 10:05 AM
To: oasfaa at lists.onenet.net <mailto:oasfaa at lists.onenet.net>
Subject: [Oasfaa] Housing component?
I have always had a standard "on campus" budget. I typically used the dorm room price for the room component. We charged the same price for 3 of the 4 dorm. However, beginning next year, the dorms will all have varying prices. From my interpretation of the handbook, "An allowance for room and board. For students that aren?t
dependents living at home with their parents, this will be an allowance that you determine. For students living on campus, the allowance is the standard amount normally assessed most residents." I plan to use the average $ of the 4 different residence halls for the room component. My CFO thinks I should use the lowest cost dorm. (I do not include apartment costs in the budget calculation because more than 50% of the students live in the 4 dorms.)
Am I being too picky? How do you get your on campus room amount? I hope you don't tell me I need 10 different COA budgets because many times, we don't know where the students will live until they're moved in.
Thanks in advance for your assistance.
<https://www.okbu.edu/site-files/images/signature/obu-letters.png>
Jonna Raney
Director of Student Financial Services
405.585.5020
Oklahoma Baptist University
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Message: 4
Date: Fri, 30 Sep 2016 16:23:50 +0000
From: "Pacheco, Caryn L." <cpacheco at ou.edu>
To: Laura Coponiti <lcoponiti at usao.edu>, "oasfaa at lists.onenet.net"
<oasfaa at lists.onenet.net>
Subject: Re: [Oasfaa] Housing component?
Message-ID:
<BN6PR03MB27547BB1FE0B7AEFC03BB643AAC10 at BN6PR03MB2754.namprd03.prod.outlook.com>
Content-Type: text/plain; charset="utf-8"
We do the same as Laura, using the dorm cost for UG and the apartment cost for GR.
Caryn
Caryn Pacheco | University of Oklahoma
Financial Aid Services | Director
Phone: 405-325-9627| 1000 Asp Ave, Buchanan Hall Room 216 | Norman, OK 73019|www.financialaid.ou.edu
From: oasfaa-bounces at lists.onenet.net [mailto:oasfaa-bounces at lists.onenet.net] On Behalf Of Laura Coponiti
Sent: Friday, September 30, 2016 11:11 AM
To: oasfaa at lists.onenet.net
Subject: Re: [Oasfaa] Housing component?
We have two, one for the dorms and one for our apartments. However, my understanding is you can do an average, this is something I am looking into for our 17-18 year.
I am sure doing the lowest looks good on reports, but I think this create a hardship to your students in the higher price housing .
Laura Coponiti
Dean of Admissions and Financial Aid
Troutt 112
University of Science and Arts of Oklahoma<http://usao.edu/>
1727 West Alabama
Chickasha, OK 73018
405-574-1350 (office)
405-574-1220 (fax)
[cid:16D7802A-BD66-411D-B03E-8C59B4BF1350]
From: oasfaa-bounces at lists.onenet.net [mailto:oasfaa-bounces at lists.onenet.net] On Behalf Of Kelly Hicks
Sent: Friday, September 30, 2016 10:46 AM
To: Jonna Raney <jonna.raney at okbu.edu>; oasfaa at lists.onenet.net
Subject: Re: [Oasfaa] Housing component?
Hi Jonna ? I use the average.
Kelly Hicks|Director of Financial Aid-NCAA Compliance P:918-343-7573|F:918-343-7598|kellyhicks at rsu.edu
[RSU Secondary logo]
From: oasfaa-bounces at lists.onenet.net<mailto:oasfaa-bounces at lists.onenet.net> [mailto:oasfaa-bounces at lists.onenet.net] On Behalf Of Jonna Raney
Sent: Friday, September 30, 2016 10:05 AM
To: oasfaa at lists.onenet.net<mailto:oasfaa at lists.onenet.net>
Subject: [Oasfaa] Housing component?
I have always had a standard "on campus" budget. I typically used the dorm room price for the room component. We charged the same price for 3 of the 4 dorm. However, beginning next year, the dorms will all have varying prices. From my interpretation of the handbook, "An allowance for room and board. For students that aren?t dependents living at home with their parents, this will be an allowance that you determine. For students living on campus, the allowance is the standard amount normally assessed most residents." I plan to use the average $ of the 4 different residence halls for the room component. My CFO thinks I should use the lowest cost dorm. (I do not include apartment costs in the budget calculation because more than 50% of the students live in the 4 dorms.)
Am I being too picky? How do you get your on campus room amount? I hope you don't tell me I need 10 different COA budgets because many times, we don't know where the students will live until they're moved in. [?]
Thanks in advance for your assistance.
[Image removed by sender. Oklahoma Baptist University]
Jonna Raney
Director of Student Financial Services
405.585.5020
Oklahoma Baptist University
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