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Appendix #15

Formulas

 

HEAB uses formulas to aid it in calculating the appropriate amounts to be disbursed to each student for its two largest grant programs, the Wisconsin Higher Education Grant (WHEG) and the Wisconsin Tuition Grant (WTG), and also for Continuing awards under the Talent Incentive Program (TIP) Grant.

These formulas help HEAB attain its two main goals in administering its aid programs. The two goals are to eliminate financial barriers to ensure an educational opportunity for all Wisconsin residents and to support educational diversity by allowing students freedom to choose among the various educational opportunities.

Once basic eligibility for WHEG or WTG has been determined, the amount each student is eligible for is calculated annually based on the total funding appropriated for each grant program. HEAB, working closely with the UW System Administration, the Technical College Board, the Independent College and University sector and the Tribal College sector, issues WHEG and WTG formulas each year that are used to calculate specific award eligibility. The WHEG and WTG formulas are designed to make sure that the goals mentioned above are attained. Various factors are used in developing the WHEG and WTG formulas. These include EFC, tuition and associated costs of education.

There are separate formulas for each of the UW, Technical College, and Tribal College sectors that utilize WHEG funds.

For the WTG award (Independent Colleges and Universities), there is one formula for the dependent student and a separate formula for the independent student.

Following are the 2008-09 formulas for WHEG (3 sectors) awards, WTG awards, and Continuing TIP awards:

 

2008-09 Wisconsin Higher Education Grant (WHEG) Formulas
University of
Wisconsin System
Wisconsin Technical
College System
Tribal
Colleges
STUDENT BUDGET $5,960 $8,500 $6,560
- STUDENT'S EFC (insert actual EFC) 0 0 0
x AWARD PERCENTAGE 50.00% 13.00% 27.44%

WHEG Award $2,980 $1,105 $1,800
Maximum WHEG Award $2,980 $1,105 $1,800
Minimum WHEG Award $674 $429 $250

 

2008-09 Wisconsin Tuition Grant (WTG) Formulas
STEP
ONE
Dependent
Students
Independent
Students
TUITION (insert actual tuition charged) $10,132 $10,132
- UW MADISON TUITION $7,188 $7,188

NET TUITION $2,944 $2,944
STEP
TWO
TUITION (insert actual tuition charged) $10,132 $10,132
+ BASE MAINTENANCE $10,807 $10,807

TOTAL COST $20,939 $20,939
STEP
THREE
NET TUITION $2,944 $2,944
DIVIDED BY TOTAL COST $20,939 $20,939

FAMILY CONTRIBUTION PERCENTAGE 14.06% 14.06%
STEP
FOUR
FAMILY CONTRIBUTION (insert actual EFC) $100 $100
x INFLATION FACTOR 311% 673%

ADJUSTED FAMILY CONTRIBUTION $311 $673
STEP
FIVE
ADJUSTED FAMILY CONTRIBUTION $311 $673
x FAMILY CONTRIBUTION PERCENTAGE 14.06% 14.06%

TUITION OFFSET $44 $95
STEP
SIX
NET TUITION $2,944 $2,944
- TUITION OFFSET $44 $95

WTG Award $2,900 $2,849
Maximum WTG Award $2,900 $2,900
Minimum WTG Award $1,000 $1,000

 

2008-09 Continuing Talent Incentive Program (TIP) Grant Formulas
University of
Wisconsin System
Wisconsin Technical
College System
Tribal
Colleges
Independent Colleges
and Universities
BUDGET $14,450 $11,140 $10,820 TOTAL COST
from Step Two
of WTG formula
- EFC (insert actual EFC) $0 $0 $0 $0
- STATE AWARD WHEG award WHEG award WHEG award WTG award

Continuing TIP Award $1,400 $1,400 $1,400 $1,400
Maximum Continuing TIP Award $1,400 $1,400 $1,400 $1,400
Minimum Continuing TIP Award $250 $250 $250 $250

 

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