MDHE Update OTC Counselor’s Financial Aid Workshop December 4, 2015

Agenda State Budget Update Program Update FAFSA Completion Project Questions

FY16 State Budget HB 3 – $2 million increase for A+ FY 15 Spending Restrictions Released – $11 million for Access Missouri – $4 million for Bright Flight

FY16 State Budget Current Revenue Picture – October up less than 1% over last October – YTD up 3% over FY 2015 Slightly below FY 16 estimates – Possible issues for FY 2017 Commitment to 6% increase to institutions Ongoing issues with Lottery and tax reductions

State Aid Program Overview

Eligibility Overview In general, a student must – Be as U.S. citizen or permanent resident – Be a Missouri resident – Maintain 2.5 CGPA and satisfactory progress – Be enrolled full-time (except Kids’ Chance, Ross- Barnett, and Wartime Vets) Available only at participating institutions

A+ Eligibility Attend A+ HS for 3 consecutive years immediately prior to graduation 95% attendance (9-12) 2.5 CGPA Good citizenship/avoid drugs and alcohol Sign agreement with HS 50 hours mentoring/tutoring Score proficient or advanced on Algebra I or higher level math EOC

A+ Scholarship Changes Completion requirement for all students – Complete 12 semester hours (or equivalent) in current semester to be eligible for the next semester GPA requirement for initial students – 2.0 GPA (or equivalent) at end of fall term to be eligible for spring SB 224 (2015) – DACA and some other non-citizens now ineligible – Effective October 16, 2015

A+ Scholarship FY 2015 – Paid 13,142 students, $33.3M FY 2016 – Projecting 14,000 students – $34M available to spend – Projecting expenditures between $33.5M and $34.4M FY 2017 budget formation in early stages – Projecting 14,500 students – $35M core request – $2.5M increase requested

Access Missouri Eligibility File FAFSA by April 1 EFC of $12,000 or less Awards – Public 2-yr - $300 - $1,300 – Public 4-yr, State Tech, and Independents - $1,500 - $2,850 – Actual awards vary based on EFC, appropriation, etc.

Access Missouri FY 2015 – Paid 51,365 students, $59.2M FY 2016 – Projecting approx. 49,500 students, $67.2M Continues decline in recipients – Awards $850 max. - $300 min. at Public 2-Year $1,850 max. - $1,500 min. at Public 4- Year/Private/STCM

Access Missouri FY 2017 – Projecting approx 49,000 students Unknown impact of October 1, 2016 release date of FAFSA April 1 application deadline may or may not change – Projecting level core funding $4M increase requested to sustain/raise award levels

Bright Flight Eligibility Composite ACT/SAT score in top 5% of Missouri test takers – No FAFSA Require – No application to file Award – Top 3% - Up to $3,000 annually – Top 4 th & 5 th percentiles – Up to $1,000 annually – Top 3% must be funded first

Bright Flight FY 2015 – Paid 6,283 students, $18.0M FY 2016 – Projecting 6,800 students, approx. $20M – $3,000 for top 3 percent – Top 4 th and 5 th percentiles remain unfunded FY 2017 – Projecting 6,900 recipients – $4M increase requested to maintain $3,000 award

Marguerite Ross Barnett Eligibility Enrolled part-time (6 to 11 credit hours) Employed 20 hours/week (no FWS) FAFSA on file by August 1 Submit employment verification 18 years old or older

Marguerite Ross Barnett Unspent funds from smaller programs co- mingled to boost Ross funding – Program fully funded FY 2013 – FY 2015 – Ability to continue full funding uncertain FY 2015 – Paid 275 students, $622,140

Marguerite Ross Barnett FY 2016 (Fall 2015 to date) – Paid 194 students, $211,418 – 43 students/$65,246 pending funding – Funding re-evaluated in December after fall payments to smaller programs complete FY 2017 – Same appropriation structure – Funding changes anticipated Growth in Public Safety Officer and Wartime Veteran’s survivor programs Vietnam Veteran’s Survivors Grant program sunset

Other Aid Programs Advanced Placement Incentive Grant Kids’ Chance Scholarship Minority Teaching Scholarship Minority and Underrepresented Environmental Literacy Program Public Service Officer or Employee’s Child Survivor Grant Wartime Veteran’s Survivors Grant

FAFSA Completion Project

Coming in January 2016 Free, on-line tool to help HS counselors work with seniors to complete the FAFSA – Secure student-specific FAFSA completion information available to registered users Provides aggregated FAFSA completion information by Missouri’s public high schools

FAFSA Completion Project High schools can: – Access information about the FAFSA and FAFSA Frenzy events for their students – Assist students in ensuring their FAFSA is complete and correct Missing signature Error (identified on Student Aid Report) that needs to be resolved Completed FAFSA on file – Make sure students meet federal, state and institutional deadlines FAFSA completion affects eligibility for Access Missouri and A+

FAFSA Completion Project Registration materials to superintendents and e- distribution message sent November 12, 2015 Two-part registration process – District-wide FAFSA Data Access Agreement – On-line registration for individual users Both (agreement and registration) required for a user ID/password Register now to be sent a user ID/password in early January Contact Kelli Reed with questions – (573)

Questions?

Contact Information 205 Jefferson Street P.O. Box 1469 Jefferson City, MO Phone: (573) Toll-free: (800) Fax: (573)