The “Ask” to Executive Leadership (cont’d) • Reasons:
• Sibling Discounts: Students with siblings in college that fall into specific income ranges will not fare as well. For them, the sibling discount would have meant they received large Pell Grants under the old formula. But without the sibling discount, their grant would be perhaps a few thousand dollars smaller, with larger changes for students who have two siblings in college. Institutional funding could assist this population. • To support newly eligible students who will now qualify for institutional funding as well as those who have become ineligible. • Helps reduce the rate of student loan borrowing. • As tuition & fees/net price continues to increase, more financial support will be required to support, especially since HEERF Grant is no longer available. • Provides ability to provide institutional grants in proportion to unmet need. • Allows us the opportunity to revise packaging philosophy to create renewable award packages (based on eligibility). • Have funding support to address special circumstance/professional judgement situations, where students have been negatively impacted by the EFC/SAI conversion. 19
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