Session T–04 Financial Aid For Technical Staff Wood Mason U.S. Department of Education

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3 History… 1950’s –Nat’l Defense Education Act of 1958 Nat’l Defense Student Loan Program (morphed into Perkins Loan Program)

4 History… Harvard University National Youth Administration –FDR Serviceman’s Readjustment Act – Veteran’s Readjustment Assistance Act

5 History… Higher Education Act (HEA) –1965 –Guaranteed Student Loan Program –Educational Opportunity Grant –Subsequent Reauthorizations of the HEA

6 More Recent… HERA –Higher Education Reconciliation Act of 2005 CCRAA –College Cost Reduction and Access Act of 2007 ECASLA –Ensuring Continued Access to Student Loans Act of 2008

7 In a Nutshell…The Process Student applies…FAFSA ED calculates EFC School determines type and amount of financial aid School awards/disburses aid Borrower repays loans

8 Application SAIG Schools EFC Calc DB Matches Central Processing System (CPS) Students* *FOTW – FAFSA on the web

9 Application Aid Eligibility/Determination –CPS Central Processing System –EFC Expected Family Contribution –ISIR Institutional Student Information Record

10 Awarding COA (Cost of Attendance) – EFC NEED

11 Awards – School Administered Institutional Grants Institutional Scholarships Targeted or non-institutional Scholarships

12 Awards – Title IV Grants –Pell Grant –ACG (Academic Competitiveness Grant)

13 Award – Title IV Grants –National SMART Grant (National Science and Mathematics Access to Retain Talent Grant) –TEACH Grant (Teacher Education Assistance for College and Higher Education)

14 Awards – Title IV Campus Based Programs –FSEOG Federal Supplemental Educational Opportunity Grant –FWS Federal-Work Study Program –Perkins Loan Program

15 Awards – Title IV Loan Programs –William D. Ford Federal Direct Loan Program –Federal Family Education Loan Program –Alternative/private loans

16 The COD Boogie SAIG ACG, SMART, Direct Loan, TEACH and Pell origination/change/disbursement data Batch and web generated Responses Schools Common Origination & Disbursement (COD) BatchWebReports SchoolsApplicants Customer Service

17 Processing – Originations & Disbursements COD –Pell –ACG –National SMART Grant –Direct Loans –TEACH Grants

18 Processing – Originations & Disbursements FFELP Lender –via CommonLine

19 Processing - Dollars FFELP lender provides cash or G5 for Title IV aid –School draws cash –COD draws cash for school

20 Processing – Outside of COD Direct Loan Servicing Guarantee Agency NSLDS

21 The Award Year July 1– June 30 –applications –awarding

22 The Award Year Fall PEAK –traditionally chaotic –registration and start –Grant year-end reconciliation and closeout –FISAP

23 The Award Year Spring PEAK –registration and start of classes –transfers –grant global jobs –applications/awarding for NEXT award year

24 The Award Year Summer term –program year closeout for Direct Loans (prior award year) –applications –awarding –header/trailer

25 Let The Next Award Year Begin… Program changes –rules –regulations –requirements –edits –dollars and data

26 And Your Next Award Year… … Brings IT changes too! –all of it...plus CPS COD any other system that touches your school

27 How in the heck am I supposed to know all this…? IFAP –Ifap.ed.gov –Dear Colleague Letters –Electronic Announcements –Direct Loan Bulletins –FSA Student Aid Handbook

28 How in the heck am I supposed to know all this…? Schema COD Technical Reference –Glossary –Impelmentation Guide –Print Specs

29 Talkin’ the talk… ACA –Administrative Cost Allowance POP –Potential Overaward Process MRR –Multiple Reporting Record

30 Talkin’ the talk… SRC –School Relations Center COD customer service center in Niagara Falls, NY CSR –Customer service representative

31 Talkin’ the talk... G5 –Grants Administration and Payment System from whence all moneys come funding method –Advance Cash –Pushed Cash

32 Talkin’ the talk... NSLDS –National Student Loan Database System FAA Access Online

33 Talkin’ the talk... CPS –Central Processing System SAIG –Student Aid Internet Gateway

34 Talkin’ the Talk… FAFSA –Free Application for Federal Student Aid

35 Questions? I appreciate your feedback and comments. I can be reached at: Name: Wood Mason Phone: