To: Admissions Committee
From: Dean of Admissions
Congratulations on submitting your ratings of the applicants. However, our work is not yet complete. The College is a need-aware institution, and we can afford to admit an entering class for whom we can meet their calculated financial needs. For this set of 15 applicants, with a yield of 3 students, our financial aid budget is $75,000. Therefore, you must go back and calculate each applicant’s financial need, and conduct an F-round (financial aid round) to re-rate the applicants based on their need and what we can afford as an institution.
Assignment: Before your next seminar meeting, each admissions officer must calculate an assigned applicant’s estimated expenses and financial need, using data in the Google Sheet and the Trinity College Net Price Calculator. When operating the calculator, make the following assumptions, unless the “financial aid notes” column states otherwise for your applicant.
- Skip student name/address page
- Applicant born 1/1/1998, single, no dependents
- Relationship to student: “I am the student”
- US citizen, unless stated otherwise in notes
- High school student, Class of 2016
- Parents: 2, both age 45, married unless stated otherwise in notes
- Household: see Google Sheet for details, and make up ages
- See parent income in Google Sheet, and assume no other income, and no expenses not covered by health insurance. Assume no education credits, no child support, etc.
- See parent assets in Google Sheet
- Assume no secondary home, business, or farm
- For student finances, assume $2,000 income; income tax $0, and total student cash balance $2,000.
- OVERALL, when in doubt, type “0” or “no” unless stated otherwise.
By the end of your next seminar meeting, you must conduct an F-round and present your final plan for applicants to be admitted, waitlisted, or denied. If you do not meet our target yield, or overspend our financial aid budget, the seminar will receive a 2-point penalty.