Many factors influence institutional discount rates. This presentation provides college administrators with the information necessary to inform constiturncy groups such as faculty and Boards of Trustees.
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Evaluating YourDiscount Rate
1. Evaluating Your Institution’s Discount Rate John W. Dysart President The Dysart Group, Inc. Douglas E. Clark Vice President for Enrollment Management Ferrum College, Ferrum, VA
2. Definition: The discount rate is defined by the National Association of College and University Business Officers (NACUBO) as the total institutional grant dollars divided by gross tuition and mandatory fees. Gross Tuition and Mandatory Fees = $40,000,000 Total Institutional Grant Dollars = $15,000,000 Tuition Discount Rate = 37.5%
4. Accountability: While Financial Aid Officers are generally considered to be accountable for institutional discount rates, many factors serve to influence discount rates and they are often outside the control of Financial Aid Officers.
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8. Athletic Scholarships: Colleges and universities participating in scholarship athletics will tend to have higher discount rates. The impact on individual rates will be determined by the average athletic scholarship amount and the percentage of undergraduates participating in scholarship athletics.
9. Academic Quality: Students with high standardized test scores and high grade point averages and class rank will demand more generous scholarship offers. The competition for the better students can drive up the discount rate.
10. Mission: Institutions focused on recruited minority students, first generation college students, students with below average academic ability, or students with high financial need may have higher discount rates.
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12. Resident Rates: Utilizing institutional financial aid to meet tuition, room and board costs is more expensive that just meeting tuition charges. Resident students increase aggregate financial need and often require higher merit financial aid awards.