EQUITY_EQUATIONS_PRESENTATION
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- The document discusses using equity equations in PeopleSoft to simplify packaging plans for financial aid at the University of Massachusetts Boston. - The university currently has over 50 packaging plans that differentiate aid based on residency, Pell grant eligibility, academic program, and other factors. - Equity equations can help combine similar student populations into fewer packaging plans by setting common equity limits and selection criteria for awarding aid. Testing proposed changes is important before implementing new packaging plans.
EQUITY_EQUATIONS_PRESENTATION
- 1. Equity Equations | August 9, 2016 Using Equity Equations to Simplify Packaging Plans Gregory Chick Senior Associate Director University of Massachusetts Boston OFFICE OF FINANCIAL AID SERVICES
- 2. Equity Equations | August 9, 2016 University of Massachusetts Boston Founded in 1965 with an initial class of 1,227 undergraduate students Moved from downtown Boston to its current Harbor Point Campus in 1974 Merged with Boston State College in 1982 17,000 graduate/undergraduate students $152 million in financial aid $13,435 tuition/fees for in-state students First residence hall opening Fall 2018
- 3. Equity Equations | August 9, 2016 Basic Terms* Equity limit established as part of the packaging plan, an upper limit of equity funds available to students being packaged. Equity funds "free money" for students, such as grants and scholarships. Financial aid item types that are defined as equity funds are applied toward the equity limit when they are awarded. Equation Engine - a very powerful tool that enables you to develop a variety of formulas. The equations are used to calculate award amounts and other numeric values. Uses algebraic equations and Boolean formulas. Equations are used when defining a packaging plan, setting award maximums and limits, and assigning groups of students to a financial aid item type, equity group, or related item type group. Packaging Plan - gives the system instructions on how to award or package a student with various financial aid awards. Groups together financial aid awards and enables you to set specific rules for how that group of awards should be given to students. You can also specify other important parameters such as how much federal need the packaging plan meets and how the aid is disbursed to students. *Taken from PeopleSoft Enterprise Financial Aid 9.0 PeopleBook
- 4. Equity Equations | August 9, 2016 Setting the Equity Award Item Types
- 5. Equity Equations | August 9, 2016 Setting the Equity Limit
- 6. Equity Equations | August 9, 2016 Setting the Packaging Plans
- 7. Equity Equations | August 9, 2016 Example Package Johnny Pell Grant
- 8. Equity Equations | August 9, 2016 Easy Packaging Plans Only one Equity Limit All students eligible for all Financial Aid Item Types All award amounts are the same across Item Types
- 9. Equity Equations | August 9, 2016 Real Life Packaging Plans On time/late packages Different residency statuses Individual scholarship eligibility On/off campus Students at Pell LEU Pell/non-Pell eligible students Various Perkins/FWS eligibility 2nd bachelor degree students Online or adult learning students
- 10. Equity Equations | August 9, 2016 Packaging Plans Today Today UMB has over 50+ Packaging Plans! On the Packaging Plan level, we have Selection Criteria and Amount Equations to differentiate: Pell Grant eligibility Mass Grant eligibility & amount Scholarship awards & amount FWS amount based on class standing Perkins awarded to prior borrowers Different Packaging Plans are based on: Residency Pell/merit scholarship eligibility On time/late Academic program IN_PELL_O IN_AA_O IN_LEU_O IN_OTH_O NER_PELL_O NER_AA_O NER_LEU_O NER_OTH_O OUT_PELL_O OUT_AA_O OUT_LEU_O OUT_OTH_O
- 11. Equity Equations | August 9, 2016 Lots of Packaging Plans - Pro/Cons Pro Set Equity Limit Clear pairing of Plan/Item Types Students identified by Plan Con Too many plans! Annual configuration/set-up Time picking plan manually packaging
- 12. Equity Equations | August 9, 2016 Think, Plan, Act Group similar student populations together The less configuration Item Types need, the better Drastically different Equity Limits make good Packaging Plans to combine Design queries that display relevant student attributes Test, test, test then test one more time!
- 13. Equity Equations | August 9, 2016 Example IN_PELL_O IN_AA_O IN_LEU_O IN_OTH_O NER_PELL_O NER_AA_O NER_LEU_O NER_OTH_O OUT_PELL_O OUT_AA_O OUT_LEU_O OUT_OTH_O IN_AA_O IN_LEU_O IN_OTH_O NER_AA_O NER_LEU_O NER_OTH_O OUT_AA_O OUT_LEU_O OUT_OTH_O B_1_PELL IN_PELL_O NER_PELL_O OUT_PELL_O
- 14. Equity Equations | August 9, 2016 Equity Equation Example Code
- 15. Equity Equations | August 9, 2016 Equity Equation Example Code
- 16. Equity Equations | August 9, 2016 Equity Equation Example Code
- 17. Equity Equations | August 9, 2016 Equity Equation Example Code
- 18. Equity Equations | August 9, 2016 Setting the Equity Equation
- 19. Equity Equations | August 9, 2016 Example Package Johnny Pell Grant
- 20. Equity Equations | August 9, 2016 Example Package Johnny Pell GrantJimmy Out-of-State
- 21. Equity Equations | August 9, 2016 Example IN_PELL_O IN_AA_O IN_LEU_O IN_OTH_O NER_PELL_O NER_AA_O NER_LEU_O NER_OTH_O OUT_PELL_O OUT_AA_O OUT_LEU_O OUT_OTH_O B_1_PELL IN_PELL_O NER_PELL_O OUT_PELL_O B_1_AA IN_AA_O NER_AA_O OUT_AA_O B_1_OTH IN_OTH_O NER_OTH_O OUT_OTH_O B_1_LEU IN_LEU_O NER_LEU_O OUT_LEU_O
- 22. Equity Equations | August 9, 2016 Example IN_PELL_O IN_AA_O IN_LEU_O IN_OTH_O NER_PELL_O NER_AA_O NER_LEU_O NER_OTH_O OUT_PELL_O OUT_AA_O OUT_LEU_O OUT_OTH_O B_1_OUT OUT_PELL_O OUT_AA_O OUT_LEU_O OUT_OTH_O B_1_IN IN_PELL_O IN_AA_O IN_LEU_O IN_OTH_O B_1_NER NER_PELL_O NER_AA_O NER_LEU_O NER_OTH_O
- 23. Equity Equations | August 9, 2016 Example IN_PELL_O IN_AA_O IN_LEU_O IN_OTH_O NER_PELL_O NER_AA_O NER_LEU_O NER_OTH_O OUT_PELL_O OUT_AA_O OUT_LEU_O OUT_OTH_O ONE_PLAN IN_PELL_O IN_AA_O IN_LEU_O IN_OTH_O NER_PELL_O NER_AA_O NER_LEU_O NER_OTH_O OUT_PELL_O OUT_AA_O OUT_LEU_O OUT_OTH_O
- 24. Equity Equations | August 9, 2016 Questions?
- 25. Equity Equations | August 9, 2016 Thank you! Gregory.chick@umb.edu