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ERIC Number: EJ905718
Record Type: Journal
Publication Date: 2010
Pages: 10
Abstractor: As Provided
Reference Count: 7
ISBN: N/A
ISSN: ISSN-0884-9153
An Optimization Model for the Allocation of University Based Merit Aid
Sugrue, Paul K.
Journal of Student Financial Aid, v40 n2 p21-30 2010
The allocation of merit-based financial aid during the college admissions process presents postsecondary institutions with complex and financially expensive decisions. This article describes the application of linear programming as a decision tool in merit based financial aid decisions at a medium size private university. The objective defined for the model is to maximize the quality of the incoming class as measured by average combined SAT scores. The approach involves using the yield rates from the previous year for each combination of SAT score and merit aid award while eliminating from consideration combinations for which insufficient data is available. Parameter estimation is based upon 2006 data and the results of the model are measured against 2007 data. It is shown that the modeling approach yielded a higher average SAT scores when applied to actual 2007 admissions data. (Contains 4 tables.)
National Association of Student Financial Aid Administrators. 1101 Connecticut Avenue NW Suite 1100, Washington, DC 20036. Tel: 202-785-0453; Fax: 202-785-1487; e-mail: membership@nasfaa.org; Web site: http://www.nasfaa.org
Publication Type: Journal Articles; Reports - Descriptive
Education Level: Higher Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A
Identifiers - Assessments and Surveys: SAT (College Admission Test)