2011 MASFAA Fall Training Mississippi Office of Student Financial Aid: State Aid Update October 12, 2011

UPDATES AND REMINDERS

FAFSA – State Application Interface Testing: November 2011 Go Live: January 1, 2012

Policies & Procedures Manual Draft available; seeking feedback Approvals: –Post-Secondary Board: December 2011 –IHL Board: January 2011 Content: –Statutory authority for administration –MOSFA, institution, and student duties/responsibilities –Program funding/budgeting process –Application process/Determining student eligibility –Award offer/Disbursement processes –Repayment of loan/scholarships –Program Rules & Regulations

FY 2011 Budget Awarded all eligible applicants in all programs Exceeded general funds appropriated; used special funds from collection of repayment of loan/scholarships to fund balance REVENUES General Funds $ 26,915,820 Carryover - Treasury Fund $ 923,225 LEAP $ 286,315 Critical Needs Fund $ 530,237 Collections $ - TOTAL Revenues $ 28,655,597 EXPENSES Awards $ 27,734,605 Admin $ 920,992 TOTAL Expenses $ 28,655,597

FY 2012 Budget Awarded all eligible applicants in all programs Will exceed general funds and will expend all funds in special funds Will request deficit appropriation of approximately $750,000. REVENUES General Funds $ 26,878,808 Carryover - Treasury Fund $ - Critical Needs Fund $ 2,023,443 Collections $ 2,176,886 TOTAL Revenues $ 31,079,137 EXPENSES Awards $ 31,275,465 Admin $ 960,000 TOTAL Expenses $ 32,235,465 BALANCE With All Revenue $ (1,156,328)

Awards Comparison FY 2011FY 2012 Program Name AwardsTotal Amount AwardsTotal Amount MTAG23,089 $ 14,016,72222,014 $ 13,406,526 MESG2,012 $ 4,810,2932,074 $ 5,092,093 HELP313 $ 1,533, $ 3,253,663 All Undergraduate Grants26,773 $ 21,483,99124,760 $ 21,960,950 Graduate Grants7 $ 19,2006 $ 34,000 Total Grants26,780 $ 21,503,19124,766 $ 21,994,950 CNTP150 $ 1,848, $ 2,293,046 WWTS454 $ 1,626, $ 2,505,329 NELB226 $ 762, $ 1,354,388 Undergraduate Ln/Schols1,021 $ 4,843,2041,525 $ 7,243,519 Graduate Ln/Schols277 $ 1,388, $ 2,036,996 Total Ln/Schols1,298 $ 6,231,4141,838 $ 9,280,515 TOTAL STATE AID28,078 $ 27,734,60526,604 $ 31,275,465

Farewell LEAP No federal funding for LEAP for FY12 No state funding for LEAP for FY12

New Program Family Protection Specialist Social Worker Loan/Scholarship Program –Students MUST be employed by DHS as Family Protection Worker I or II –Licensed Social Worker (Bachelor) –Licensed Master Social Worker (Masters) –Must work 3 years as Family Protection Specialist (or higher) for DHS upon licensure

Program Change Veterinary Medicine Minority Loan/Scholarship –Affects MSU only –Increase award amount from $6,000 to full tuition

Summer Disbursement for Nursing Education L/S Applies to: ASU, DSU, MC, MUW, UMMC, USM, and WCU Previously planning to award based on whether summer term required. Now planning to award based on application.

Enrollment Report for Nursing Students Applies to: ASU, DSU, MC, MUW, UMMC, USM, and WCU Report # of hours AND enrollment status (FT, PT, HT, QT) for nursing students Rationale: –Nursing students can be part-time –Various programs (particularly grad programs) have widely varying definitions of part-time, making it very difficult for us to program for all possibilities

Graduation Date on Grade Report Required for 4-year institutions Add graduation date to Grade Report Character - Left justified. Format as ‘DD- MON-CCYY’. Example 13-DEC-2001 Community colleges can have place-holder Rationale: –Improve data integrity for determining separation dates for loan/scholarship recipients

Loan Servicing Change ACS: Old servicer ECSI: New servicer July 1: Conversion date Loan servicer manages ALL loan/scholarship accounts after exit Electronic entrance counseling, contracts/rules & regs, and exit counseling

Reminder: Deadlines

COMMON QUESTIONS

Where Is Our Money??? Students complete application; deemed eligible Student receives award offer notification; school sees student on Award Report School submits Enrollment Verification Report MOSFA processes Enrollment Verification Report MOSFA requests money from IHL, which requests money from DFA DFA sends money to IHL, which sends money to schools MOSFA posts Disbursement Reports

Changes to Enrollment Status If a student’s status changes to full-time after you have submitted the Enrollment Verification Report, you may submit Enrollment Verification for student School bears responsibility of verifying enrollment

Returning Funds Policy –If student drops below full-time status AFTER receives money, student keeps money for term and student loses for next term –If student drops below full-time status BEFORE receives money, money returned for term and student loses for current term AND next term.

Full-time Enrollment 12 semester hours/9 trimester hours Only courses listed as “undergraduate” in course catalog accepted Courses must be term bound - some independent study or correspondence courses are not accepted

MOSFA Staff OR Jennifer Rogers, Director – –Programs: GEAR UP, Youth Advisory Board Meg Harris, Assistant Director – –Programs: William Winter, Counselor and School Administrator, and Graduate Teacher Beverly Jackson, Senior Systems Analyst – –Handles all reports (grade, enrollment, balancing) and rosters (disbursement, award, etc.) Stephanie Green, Program Administrator – –Programs: Nursing Education, Nursing Teacher Stipend, SREB Regional Contract Program, Vet Med, Health Care Professions, Law/Fire, Doctoral Scholars, Gulf Coast Research Lab Intern, and Public Management Graduate Intern Babs McAlpin, Program Administrator – –Programs: HELP, Nissan, Graduate and Professional Degrees, State Medical, State Dental, and Summer Development Apryll Washington, Program Administrator – –Programs: Critical Needs, MS Teacher Loan Repayment Wayne Carlisle, Systems Analyst – Renotta Jones, Administrative Assistant – Shirley Mitchell, Secretary/Receptionist –

Questions?