Reviewing All Computed Data for Student and Parents

Access the Computation Summary page (Financial Aid, and then Institutional Application Data, and then Maintain Application 20nn-20nn, and then Computation Summary).

This page is designed to display computed need analysis results based on both the parent's and student's information. Therefore, the page displays a Parent Contribution Section and a Student Contribution Section. The following sections describe what each column represents.

Note:

Computation tables display no intermediate values until the INAS calculation is called using mass or online calculation.

Note:

To more closely align interim calculation results with the Estimated Federal Methodology (EFM) computation worksheets from the College Board, the Computation Summary page displays an N/A value for several fields. For parents of dependent students and independent students with dependents, EFM calculations display N/A for From Income, From Assets, Total Contribution - Income and Total Contribution - Assets fields.

Contribution Summary

The PARENT CONTRIBUTION section displays three columns: IM Base, IM w/Options, and EFM.

  • The IM Base column displays standard base INAS calculations. Although the IM Base calculation is not delivered as part of the Profile record, Oracle supports calculating the College Board's IM Base calculation if INAS is invoked after the initial load of the Profile record.

  • The IM w/Options column is the result of using the institutional options that you set up when you defined your institutional methodology. IM w/Options is delivered as part of the Profile record.

  • The EFM column displays the estimated federal methodology amount. Financial aid administrators are reminded that the EFM is always estimated and never official.

The STUDENT CONTRIBUTION section displays three columns: IM Base, IM w/ Options, and EFM.

  • The IM Base column displays standard base INAS calculations. Although the IM Base calculation is not delivered as part of the Profile record, Oracle supports calculating the College Board's IM Base calculation if INAS is invoked after the initial load of the Profile record.

  • The IM w/Options column is the result of using the institutional options that you set up when you defined your institutional methodology. IM w/Options is delivered as part of the Profile record.

  • The EFM column displays the estimated federal methodology amount. Financial aid administrators are reminded that the EFM is always estimated and never official.

Field or Control Description

Total Income

Indicates the custodial parent's total contribution for the student from the base IM computation.

Custodial Parent Information

The system displays the calculations for Total Income, Total Contribution, Number in College Adjustment, Contribution for Student, contribution From Income, and contribution From Assets for Parent's Contribution and Student's Contribution.

For the PARENT CONTRIBUTION IM Base:

Field or Control Description

Percent Income

Indicates the custodial parent's percentage of total parents income from the base IM computation.

Contribution From Income

Indicates the custodial parent's contribution from income for the student from the base IM computation.

Contribution From Assets

Indicates the custodial parent's contribution from assets for the student from the base IM computation.

For the PARENT CONTRIBUTION IM w/Options

Field or Control Description

Percent Income

Indicates the custodial parent's percentage of total parental income from the option IM computation.

Contribution From Income

Indicates the custodial parent's contribution from income for the student from the option IM computation.

Contribution From Assets

Indicates the custodial parent's contribution from assets for the student from the options IM computation.

Education Savings Calculations

The system displays the Parent's and the Student's Annual Education Savings Allowance (AESA) and Cumulative Education Savings Allowance (CESA) calculations. These are Profile specific calculated values used in INAS calculations for Institutional Methodology.

Income

The system displays the calculations for Taxable Income, Untaxed Income, Adjustments to Income, and Total Income for Parent's Contribution and Student's Contribution.

Allowances

The system displays the calculations for U.S. Income Tax, FICA Taxes, Medical/Dental, Elementary/Secondary Tuition, Employment Allowance, Annual Education Savings, Income Protection Allowance/MMA, Total Allowances, Calculated Available Income, and Available Income for Parent's Contribution and Student's Contribution. The Total Contribution - Income amount is the sum of all the fields in the Allowances section.

Assets

The system displays the calculations for Cash Savings, IRA Value, Home Equity, Real Estate/Investment Equity, Adjusted Business/Farm Value, Sibling's Assets/Prepaid Tuition, Value of Trusts, and Net Worth for Parent's Contribution and Student's Contribution.

The system displays the calculations for Emergency Reserve Allowance, Cumulative Education Savings, Low Income Asset Allowance, Discretionary Net Worth, Asset Protection Allowance, Conversion Percentage, and Income Supplement for Parent's Contribution and Student's Contribution. The Total Contribution - Assets amount is the sum of all the fields in the Assets section.

Non Custodial Parent Computation Summary Data

Field or Control Description

Education Saving Calculation

Displays the non-custodial parents’ Annual Education Savings Allowance (AESA) and Cumulative Education Savings Allowance (CESA) calculations. These are Profile specific calculated values used in INAS calculations for Institutional Methodology.

IM Options Non–Custodial Parents Contribution (institutional methodology options non custodial parents contribution)

Displays a logical grouping for the Non-Custodial Parent Contribution results under the IM options computation.

Non Custodial Parent Base Adjustment

Displays a logical grouping for the data elements for the biological/adoptive parent base computation results.

Non-Custodial Parent Contribution Summary

Click this link to view the Institutional NCP Cont Summary (institutional non custodial parent contribution summary) page displaying calculations for non-custodial parents’ contribution. For descriptions of the fields in the Non-Custodial Parent Contribution Summary, refer to the similar fields already described in this Computation Summary sub-topic.