Oklahomas Promise OKPromise for Career Tech - Financial Aid July - PowerPoint PPT Presentation

Oklahoma’s Promise OKPromise for Career Tech - Financial Aid July 2016 Carol Alexander Oklahoma State Regents for Higher Education

Resource Page Financial Aid Resources for Institutions  http://www.okhighered.org/admin- fac/FinAidResources/  One location for up-to-date information including:  Administrative rules and statutes  Report form templates  Reporting instructions  Other information related to OSRHE financial aid programs 2

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Information provided with OKPromise award letter Public Career Technology Programs: The OKPromise award will cover at least a portion of the tuition cost for certain public technology courses offered for potential college credit through cooperative agreements between public technology centers and Oklahoma public colleges or universities. However, not all courses at public technology centers are offered through a cooperative agreement. The student should check with the public technology center he/she plans to attend. [The award is limited to an amount similar to tuition at a public two-year college.] 5

Reconfiguration of Coop Agreements  Higher Learning Commission (HLC) new guidance  Changes to coop agreements/alliances 6

Cooperative Alliances (Beginning in 2015-16)  Prior Learning Assessment (PLA)  Contractual Agreement  Healthcare related fields  Website: http://www.okhighered.org/alliances/ 7

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New payment procedures  Bill your tuition rate by payment period for clock hours associated with that payment period not to exceed $2.67 per clock hour.  This is based on a clock hour to credit hour conversion and a comparable amount at the community college rate. 10

Example #1  If 900 clock hour program, then (900 x $2.67) total payment cannot exceed $2,403.00. Bill two payment periods of 450 clock hours each.  Tuition = $1.50 (< $2.67 CAP, so you would bill at your rate)  1 st payment period.  Bill 450 clock hrs x $1.50 = $675.00  2 nd payment period.  Bill 450 clock hrs x $1.50 = $675.00 TOTAL: $1,350.00 11

Example #2  If 900 clock hour program, then (900 x $2.67) total payment cannot exceed $2,403.00. Bill two payment periods of 450 clock hours each.  Tuition = $3.00 (> $2.67 CAP, so you would bill at the $2.67 rate)  1 st payment period.  Bill 450 clock hrs x $2.67 = $1,201.50  2 nd payment period.  Bill 450 clock hrs x $2.67 = $1,201.50 TOTAL: $2,403.00 12

Example #3  If 1200 clock hour program, then (1200 x $2.67) total payment cannot exceed $3,204.00. Bill three payment periods.  Tuition = $2.00 (< $2.67 CAP, so you would bill at your rate)  1 st payment period.  Bill 450 clock hrs x $2.00 = $900.00  2 nd payment period.  Bill 450 clock hrs x $2.00 = $900.00  3 rd payment period.  Bill 300 clock hrs x $2.00 = $600.00 TOTAL: $2,400.00 13

Example #4  If 1200 clock hour program, then (1200 x $2.67) total payment cannot exceed $3,204.00. Bill three payment periods.  Tuition = $3.00 (> $2.67 CAP, so you would bill at the $2.67 rate)  1 st payment period.  Bill 450 clock hrs x $2.67 = $1,201.50  2 nd payment period.  Bill 450 clock hrs x $2.67 = $1,201.50  3 rd payment period.  Bill 300 clock hrs x $2.67 = $801.00 TOTAL: $3,204.00 14

Contact Information okpromise@osrhe.edu OR 1.800.858.1840 (option 2) Carol Alexander: calexander@osrhe.edu Kelley Norris: knorris@osrhe.edu 15