The Consensus Methodology
What Is the Consensus Approach Methodology?
The Consensus Approach consists of a set of common standards for determining the family's ability to pay for college. It seeks to reduce much of the variance in need analysis results that has been experienced in recent years. The participating institutions believe that the Consensus Approach, when applied in a consistent manner, serves to diminish or eliminate the divergent results that threaten the long-standing tradition of awarding aid on the basis of need.
The Consensus Methodology begins with the understanding that the College Board's Institutional Methodology (IM), as revised in 1999, is an appropriate base for institutional need analysis and provides a platform for further work. Consequently, the 568 Group has focused on those aspects of the current IM that are most often subject to local interpretation or professional judgment. The desire to serve the "greater good" rather than individual institutional needs and capabilities has required compromise in some areas, but the 568 Group believes that the resulting methodology remains true to both the institutional and professional principles that underlie its cooperative efforts.
The 568 Group does not view the Consensus Approach as a panacea. Need analysis procedures have traditionally depended on "professional judgment" applied locally. Although the Consensus Approach standardizes many policies that are subject to professional judgment, the 568 Group recognizes that no system will completely eliminate disparate results or the effects of individual institutional "packaging" decisions, which are beyond the scope of the 568 Group's activities.
Finally, it is important to note that the 568 Group views its efforts as the beginning of a long-term process. Some policy issues will require further exploration and analysis. Moreover, the use of the Consensus Approach will present, over time, new and unexpected issues and concerns.
To Whom Does the Consensus Approach Apply?
Although the Consensus Approach applies primarily to first-year
students, including those admitted via early action/early decision and
any end-of-year waiting list admits, it is understood that most institutions
will, for purposes of consistency, apply this approach to upper-class
students as well.
What about Financial Aid "Packaging" and Merit Awards?
The Consensus Approach deals exclusively with the family's ability to pay for college. It does not address issues associated with the "packaging" of awards (i.e., the mix of grant, loan, and work components), nor does it concern itself with so-called "merit" awards, whether academic or athletic.