To earn this credential, you will need to know the basic principles and processes of student budget construction. You will need to know the standard components of a student’s cost of attendance (COA), allowable additional costs, and rules related to recalculation of the COA. This will help you demonstrate the ability to protect the integrity of the Title IV programs by ensuring your school’s COA policies and procedures result in the construction of accurate and appropriate student budgets, which directly affects the equitable distribution of financial aid funding.
The range of topics in this test include:
Tests may include questions pertaining to a variety of program structures, such as credit- or clock-hour, term or nonterm, standard or nonstandard term, undergraduate or graduate/professional programs, and programs of various length (shorter than one year, two-year, four-year, certificate, etc.).
All tests will include a combination of multiple-choice and scenario-based questions. Some questions may involve viewing or downloading worksheets, charts, and tables. Please ensure you have a calculator available while taking a credential test.
Review the following examples, which are similar in structure and scope to the questions that will appear on the test for this topic. Check your answers by selecting the question's link.
1. Which of the following costs cannot be included in a student’s cost of attendance?
2. Which of the following Title IV programs is always based on the cost of full-time attendance for a nine-month academic year?
3. For students enrolled less than half time, the school cannot include __________ in the cost of attendance.
4. What is the maximum number of semesters (or equivalent) a less than half-time student may have room and board included in the cost of attendance?
5. If a school charges the total tuition cost for a program at the beginning of the first period of enrollment, for which Title IV program must the charges be prorated to reflect the academic year?
Prepare for this test by reviewing related content in resources such as: