1. Financial Aid SST Discussion
December 12, 2012

2. Help Us Help You Help The Student
Update Document Tracking:
As soon as the student REGISTERS
As soon as the student TURNS IN DOC’S
Document tracking can’t begin unless the contact is added

3. Help Us Help You Help The Student
Check the students work:
Does the info make sense?
Are there blanks?
Are there potential problems?
Married student filing head of household etc.
Missing/electronic signatures
Should have filed but didn’t

4. IRS PUB. 17 - WHO’S REQUIRED TO FILE?

5. Help Us Help You Help The Student
24/18 Credit Rule
Check the students eligibility for a new loan BEFORE requesting new documents

6. FINANCIAL AID WORKFLOW
Student submits docs – Finance Advisor’s review and approve
Loan is entered and exported
Financial Aid
Reviews Info
Aid is awarded if there are no issues
Docs are imaged
Quality control review
Funds received and imported
Issues need to be resolved
AR runs posting process
AR issues refunds to Discover Card

7. FINANCIAL AID ACADEMIC YEAR
Students are required to complete the WEEKS and the CREDITS of the academic year
24 Undergraduate credits
18 Graduate credits
32 WEEKS

8. FINANCIAL AID ACADEMIC YEAR
Changing the definition of our academic year to 30 weeks resulted in a change in our definition of full-time. This meant that a student who was enrolled in 3 credits would be considered less than half-time and therefore, NOT eligible for a loan disbursement.
We reversed our position on this and worked with all of the students who enrolled in short courses.

9. IMPACT OF 3 CREDIT COURSES
Students are required to complete the credits of the academic year (24).
More students are going to have to pay for a term out of pocket unless they:
Double up each term (take at least 6 credits/term)
Average 6 credits/term (e.g )
Good planning/advising is critical to the student’s success
Use the interactive aid estimator tool available on the website

10. 150% LOAN LIMIT Effective July 1, 2013 for NEW BORROWERS ONLY
Limited to receiving Subsidized loan funds for 150% of the students program length
E.g. 6 years for a 4 year program
All Subsidized funds after this point are treated like Unsubsidized loans and interest would begin accruing
MORE INFORMATION TO COME

11. VERIFICATION FLAGS Effective on the 2013-14 FAFSA
V1 - Standard Verification
V2 - SNAP Benefits
V3 - Child Support Paid
V4 - HS Diploma/Identity/Statement of Educational Purpose
V5 - All of the Above
MORE INFORMATION TO COME

12. SHOPPING SHEET Effective for the 2013-14 year Implementation plan tbd
Online Award Letters
Online Shopping Sheet

14. REMINDER
PLEASE don’t have students call the Ottawa campus to find out about their refunds
Students are calling and getting put through to the Ottawa Financial Aid office