2015 New Director Orientation - Bonner Scholar Recruitment, Selection and Financial Aid
-
Upload
bonner-foundation -
Category
Education
-
view
333 -
download
1
Transcript of 2015 New Director Orientation - Bonner Scholar Recruitment, Selection and Financial Aid
What We’ll Cover• Bonner Recruitment & Selection
• Bonner Financial Aid Package
• Bonner Summer Service Funding
• Bonner Loan Reduction
• Semester Reporting Process in BWBRS
• Other Bonner Scholarship Funding
• Bonner Scholar Endowment Access
How to RecruitFour year commitment
Build into school recruitment &and admissions process as yield tool - liaison
Engage current Bonners in process
Application process
On-campus interviews if possible
Example:::s-Rhodes, Lindsey Wilson
Who to RecruitEstimated Family Contribution: •85% < $10,000 with average < $6,000 •15% any EFC
Gender Balance: •% no more than 60/40
Diversity: •> than school %
Replacing a BonnerEstimated Family Contribution < $< < $12,000
Should have an application process
Draw from pool of students already active in service
Do not need to involve students (but can
Bonner ScholarFinancial Four year commitment
Meets total cost of education
Loans capped at Stafford level
Bonner service =is “paid work”
Summer stipends for living and earnings
Bonner Scholar Financial Aid Package
$0
$12,500
$25,000
$37,500
$50,000
Student 1 Student 2 Student 3
$34,500$39,000$42,500
$2,500
$2,500$2,500
$5,000
$5,000$5,000 $8,000
$3,500
School packagesGrants, Scholarships,Federal Work Study
Bonner ScholarshipStudent Loan(s)
Family Contribution
Bonner Summer Service FundingTwo summers required 280 hours per summer Students find summer service placements Students propose budget for living stipend May budget summer living stipend for future summer service expenses
Bonner Summer Service Funding1st
Summer2nd
Summer3rd
SummerLiving
Stipend $1,000 $1,000
Earnings Stipend $1,500 $1,500
Rising Senior Fund $500
TOTAL $2,500 $2,500 $500
Loan ReductionQualify for $2,000
Must complete all program requirements
Must be applied directly to student loans upon graduation (or other educational expenses)
Student has option to have withheld up to 7 years
Semester Reporting in BWBRSReport Who Fall Spring Summer
(complete the week after semester starts)
Registrar’s List
School ✓ Create Registrar’s List (week after semester starts)✓ Submit Change of Status
Foundation ✓ Approve Change of Status
School ✓ Confirm List is Ready to be Locked✓ Notify Foundation to Lock Registrar’s List
Foundation ✓ Lock Registrars List (automatically creates Allocation Report)
Allocation Report
School ✓ Review & Edit Allocation Report
Foundation ✓ Approve & Lock Allocation Report✓ Email Allocation Approval Letter
Reimbursement Report
School ✓ Review & Edit Reimbursement Report✓ Notify Foundation to Lock Reimbursement Report
Foundation ✓ Approve & Lock Reimbursement Report✓ Email Reimbursement Approval Letter (if needed)
Other Bonner Scholar Program Funding
Fund Source Amount Process
1st Year Service Trip
Per Student Allocation
$250 per freshmen + two
staff
Proposal to Fnd at least 6 wks in
advance
Sophomore Exchange
Per Student Allocation
$50 per sophomore
Added to Admin Fund in Fall Allocation
Local Summer Service
Per Student Allocation $75 per student
Proposal to Fnd at least 6 wks in
advance
Junior/Senior Leadership Fund
Unexpended Bonner Scholarship Funds
from Prior Year
Calculated by Foundation
Proposal to Fnd at least 6 wks in
advance
Bonner Scholar Endowment AccessFund Amount Process
Allocations Per Student AllocationSemester Allocation Reports in BWBRS &
Proposals to Foundation
Semester Reimbursements
Allocation less Actual Expenditure =
Reimbursement
Semester Reimbursement Reports
in BWBRS
Enrichment Fund General Fund less Annual Budget = Enrichment Fund
Annual Summer Proposal to Foundation
Supplemental Financial Aid
Supplemental Financial Aid Fund less $ Needed for General Fund = $ SFA
Included in Annual Proposal to Foundation