You Mean I’m Not Your Only School? MASFAA Hyannis MA November 14, 2017 Allene Begley Curto Associate Director of Financial Aid Springfield College

What Does It Matter If I’m Not Your Only School? If I’m applying to other schools If I’m attending another school (or it looks like I am!) If I previously attended another school or schools If I will attend another school

I’m Applying to Other School(s) Deadlines I need your answer before the date that they want my answer Comparisons Why are they giving me more? Why aren’t you giving me more? Why didn’t I get the “X” award that they gave me? Competition Hasn’t the coach/department head/admissions officer explained what you need to give me?

What Does It Matter If I’m Attending Another School Now? Consortium Agreements Annual and Aggregate Limits No concurrent Pell SULA Transfer credits/Academic Counseling …what other school? I dropped out/never began/don’t know who they are

What Does It Matter If I Attended Another School Before? Annual and Aggregate Limits SULA Pending aid Defaults Verification Professional Judgment Transfer Credits Unusual Enrollment History

What Happens If I Want to Attend Another School After Yours? Annual and Aggregate Limits SULA Pending aid Prevent Defaults/Delinquency Verification Professional Judgment Transfer Credits

Annual Limits Pell at only one school per enrollment period Annual Pell (remember the 150%!) less % received at first school Annual loan amounts reduced by disbursed loan in same award year Pending disbursements need to be canceled and award amount revised on COD Overlapping loan periods

Aggregate limits Check if truly exceeded If did exceed - need to resolve inadvertent over borrowing through repayment or consolidate all applicable loans or reaffirmation agreement Resolution does not increase aggregate limits – only restores general eligibility Monitor if close to aggregate – compare remaining eligibility and projected enrollment needed to complete at your school

NSLDS Transfer Monitoring NSLDS Transfer Monitoring Process – who do you add? (everyone who is not a freshman who never attended before!) Who Reviews? Updated Wednesday night so check Thursday am! Monitor the Pell and loan amounts Reduce the Pell or loan at your school if necessary Other school should be contacted if student disputes amount of Pell or loan received at other school Check COD – may be more current than NSLDS!

SULA Subsidized eligibility ends when a student reaches 150% program length No more subsidized eligibility unless enrolls in a program of greater length Subsidized eligibility will be lost – even on prior previously subsidized loans if student exceeds 150% program length and did not graduate/complete

Pell POP/MRR Review ISIRs Contact School Contact Student One of the schools needs to revise if POP exists Timely reporting reduces POPs!

Pending disbursements COD may send to NSLDS as pending disbursement amount(s) – even if the disbursement(s) has/have been canceled – unless loan amount has also been revised COD status of cancellations/new loans will be more current than NSLDS

Defaults Enrollment reporting is crucial to avoid defaults that shouldn’t occur Satisfactory repayment eligibility requires student to continue making payments even while enrolled until fully rehabilitated If cleared by consolidation may not be on NSLDS yet or consolidation may not have included all loans If NSLDS incorrectly shows default, it must be documented

Verification If one school verified and the other school did not or both verified and have different results this can be conflicting information and must be resolved Correct if needed or document that your status is correct (or was correct time of disbursement if no longer enrolled) Conflicting information must be resolved even if not selected for verification or has been previously verified

Unusual Enrollment History Comment code 359 If the student earned credits at your school during the 4 year review period, no further action is required unless you have reason to believe that the student is one who remains enrolled just long enough to receive Title IV funds If no credits were earned or if you think student may have enrolled just to receive Title IV funds, follow procedures for Comment code 360

Unusual Enrollment History Comment code 360 Need transcript(s) showing credits earned during years in which received any federal aid during the 4 year review period for each school, or Explanation of why no credits were earned during the year in which received any federal aid during the 4 year review period

Professional Judgment Dependency Overrides - may be accepted during same year, not in subsequent year Change(s) to data element(s) must be reviewed Documentation is essential!

Transfer Credits Impact on grade level for undergraduate loans Projected enrollment to complete at your school and aggregate limits remaining Impact on SAP – quantitative component

More onTransfer Credits Final transcript may not be available until after enrollment begins at your school Expected grade level may be different if some courses do not transfer Articulation agreements clarify what courses are accepted and also help enrollment If students enroll at another school to complete degree requirements at your school, make certain that you document your policy!

Consortium Agreements Official agreement with Host school and Home school Institutional policy on agreements Know the procedures Make certain students know the procedures and policies

Concurrent Enrollment Academic Counseling Ability to handle the dual registration load Transferability of credits Financial Aid Counseling Annual and Aggregate loan limits No concurrent Pell grant Annual Pell and SEOG limits