How to Establish the Perfect Financial Aid Formula for Your School

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Date(s):
Certification Credits: 1 IACP/1 BCP

Not sure if you are awarding the correct amount of financial aid to the right families? It’s a common issue that financial aid committees struggle with. Fortunately, there is a straight forward solution—you need to know the two key elements that make up all financial aid formulas, and accordingly, the key variables that make up your school’s award calculation.

Event time: 3 PM ET

We hear from schools all the time that they are frustrated with awarding families for poor choices, such as expensive cars, clothing, houses, etc.

Additionally, If you have ever questioned how an award was calculated, felt that you are giving families way too much, or end up giving families more aid dollars just because they asked, it is likely a symptom of misunderstanding how your formula actually works.

It's hard to defend an award (or lack of one) without knowing how the decision was made. Accordingly, this session will help you make sure that you are giving the correct amount of aid to the right mission-appropriate families.

We'll cover these topics and more:

  • How to develop a process to setup and analyze your own formula so that you get a full understanding of exactly how the award you present to a family is determined
  • Why we hate the word "formula" (hint: There is NO formula)
  • How to accurately factor in all of a family's income and assets into the award calculation
  • How to establish reasonable, allowable family expenses that you are willing to subsidize with your financial aid dollars
  • How and when to deviate from policy to allow for "family circumstance"
  • Best practices and key factors to consider when evaluating housing, taxes, insurance, utilities, and and long-term savings
  • The one asset families can use to legally "hide" money from you

Run time:

Total run time is 60 minutes. The presentation will run approximately 45 minutes with 15 minutes designated for Q&A.

Who should attend:

This webinar is appropriate for Business Managers, CFOs, School Heads, Admission Directors, Financial Aid Directors, and Board Members. 

Clint LoschClint Losch

Expertise

Clint is a financial aid and tuition management specialist who has helped over 1000 school leaders discover how to set mission-appropriate financial aid policies to sustain long-term viability.

Current Role

As Regional Account Manager for ISM, Clint:

  • Helps schools thrive by providing the tools to increase revenue and fill empty seats with mission-appropriate students
  • Works side-by-side with schools to give them the confidence to make the best financial aid decisions for all parties involved
  • Supports school leaders in supporting and sustaining their own mission with customized aid recommendations

Prior Experience

Clint previously served as a Financial Aid Advisor at The Wealth Advocate Investment Group LLC and a Financial Advisor at 1847Financial. He also owned his own marketing organization, Losch Marketing.

Education

Clint earned his bachelor’s degree in math and economics at Lafayette College.

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What is the difference between single-topic Webinars, Webinar clusters, and Webinar courses?

Single-topic Webinars: These are basic, 60-minute Webinars (typically 45 minutes long with a 15 minute Q&A session), covering various timely concerns and/or situations. Our calendar is updated monthly, and sometimes weekly, as these sessions are designed to tackle a current need within the private-independent school world.

Webinar clusters: These are Webinar sessions covering one topic, but divided into multiple sessions over several days so that the topic can be explored in more detail without overwhelming the attendees. They are designed both for timely topics, such as an update on recent federal laws, and for more general concerns, such as designing your employee medical package to meet both your budget goals and your school’s unique culture.

Webinar courses: These Webinars are designed to function as an ISM workshop but are done remotely. Since they are remote you will not need to travel and incur additional expenses due to that travel. Webinar courses are broken into smaller segments than typical on-site workshops so you won't need to sit in front of your computer for days on end. In fact, Webinar courses can extend over months giving you time to work on projects that a workshop leader may require.

Confirmation and Cancellation Policy

We will correspond with you through email as soon as your workshop is confirmed, no later than two weeks prior to its start date. Occasionally, we may be forced to cancel an unconfirmed, scheduled workshop due to insufficient registration. So we ask that you do not make non-refundable travel arrangements until you receive notice that your workshop is confirmed. (ISM will not be responsible for any change/cancellation charges assessed by your airline or travel agent.)

Tuition Payment and Cancellation Policy for In-Person, Group-based Programs

Tuition must be paid in full 10 business days prior to the start date of the in-person, group-based program. An attendee with a balance due on the start date will be denied entrance to the program until the balance is paid in full.

Cancellation requests must be made in writing by emailing workshops@isminc.com, faxing to 302-656-0647, or mailing to: Professional Development Coordinator, ISM, 1316 N. Union St., Wilmington, DE, 19806.

  • Cancellations received more than 15 business days prior to the start date of the program will be fully refunded. Gold Dollars will also be fully refunded.
  • There will be no refunds for cancellations made less than 15 business days before the start of the program. For registrations paid for with membership Gold Dollars, the member school will receive a 50% refund of Gold Dollars.
  • Non-payment of tuition or no-show to the event does not constitute a cancellation. Full tuition will be due and payable.

The Substitution Option and Wallet Option

Should an attendee need to cancel less than 15 days prior to the start date of the workshop, the school has two options to avoid penalty. Schools may also exercise these options at anytime for cancellations. 

  1. The school may substitute another employee.
  2. The school may bank the funds for a future ISM registration. These funds must be applied to a professional development event within one year from the start date of the original workshop. After one year, the funds will be forfeited. To use banked funds, please call the Professional Development Coordinator at 302-656-4944 x152.

*We DO NOT accept enrollments from consultants.

 

 

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