session 43 financial aid for technical staff wood mason

Session 43

Financial Aid For Technical Staff

Wood Mason

Session 43

Al Beeouttahere

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But First…

It’s Picture Time!

Session 43

Send $50 cash to…

Al Beeouttahere555 East West Ave

Algernona, GA 67890

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In a Nutshell…

• Student applies• ED calculates EFC• School determines aid

offered

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History…

• Harvard University– May 9, 1643

•Lady Ann Radcliffe Mowlson endowed Harvard’s first scholarship fund

– 1840 •Harvard’s first loan program

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History…

• Peabody Education Fund– 1867– $2 million dollars over 30

years

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History…

• 1867– U.S. Department of Education

• 1979– cabinet level post

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History…

• National Youth Administration– 1935– FDR “New Deal” program– can you say Tech School?

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History…

• 1944 - Serviceman’s Readjustment Act

• 1952 - Veteran’s Readjustment Assistance Act

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History…• 1950’s

– Nat’l Defense Education Act of 1958•Nat’l Defense Student Loan

Program (morphed into Perkins Loan Program)

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History…

• Higher Education Act of 1965

– Guaranteed Student Loan Program – Educational Opportunity Grant

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History…• Higher Education Reconciliation

Act of 2005– ACG/National SMART awards– GRAD/Professional Student PLUS

borrowers

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Application

• FAFSA– Free Application for

Federal Student Aid

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Application

NOTE: All COD interfaces routed through EAI except DCS.

SAIGSchools

EFC Calc DB Matches

Central Processing System

(CPS)

Students *

*FOTW – FAFSA on the web

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Application

• Aid Eligibility/Determination– CPS

•Central Processing System

– EFC •Expected Family Contribution

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Awarding

COA (Cost of Attendance)– EFC

NEED

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Awarding

• Grants– Pell Grant– ACG (Academic Competitiveness

Grant)– National SMART Grant (National

Science and Mathematics Access to Retain Talent Grant)

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Awarding

• Campus Based Programs– FSEOG

•Federal Supplemental Educational Opportunity Grant

– FWS •Federal-Work Study Program

– Perkins Loan Program

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Awarding

• Loan Programs– William D. Ford Federal Student

Direct Loan Program– Federal Family Education Loan

Program– alternative loans

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Awarding

• School Aid – scholarships– grants

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The COD Boogie

SAIG

Financial Mgt

System(FMS)

Loan Servicing System(DLSS)

ACG, SMART, Direct Loan and Pell Origination, Change and Disbursement data

Batch and web-generated Responses

CentralProcessing

System(CPS)

Loan Bookings & Disbursements

School

Eligibility

Data

Funding Transactions

Payment Transactions

Student Level Grant Data

Student Level Direct Loan Data

FMSS / GAPS

Schools

Drawdowns

Post Secondary Education Participant

System(PEPS)

Student

Applicant

Data

Payment Transactions

Student Data

Storage(NSLDS)

Common Origination & Disbursement (COD)

TransactionProcessing

Web Reports

Customer Service Center

Applicant Services

Debt Collection Services (DCS)

Student

Pell

Payment

Data

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The COD Boogie

SAIG

ACG, SMART, Direct Loan and Pell Origination, Change and Disbursement data

Batch and web generated Responses

CentralProcessing

System(CPS)

GAPS

Schools

Drawdowns

Student Data

Storage(NSLDS)

Common Origination & Disbursement (COD)

TransactionProcessing

Web Reports

Customer Service Center

Applicant Services

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Processing – COD

• Common Origination & Disbursement (COD)– Pell– ACG– National SMART Grant– Direct Loans

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Processing - COD

• Common Record• Response

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The Award Year

• July 1, 2007 – June 30, 2008– applications– awarding

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The Award Year

• Summer term– program year closeout for loans

(prior award year)– applications– awarding– header/trailer

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The Award Year

•Fall PEAK–traditionally chaotic–registration and start–Grant year-end reconciliation and closeout

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The Award Year

•Spring PEAK–registration and start of classes–transfers–grant global jobs–applications/awarding for NEXT award year

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The Next Award Year

• Program changes– rules– regulations– requirements– edits – dollars and data

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The Next Award Year

• IT changes– all of it...

•CPS•COD•any other system that touches your

school

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Talkin’ the talk…

• COD Tech Ref– glossary – IFAP.ed.gov

•Information for Student Aid Professionals

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Talkin’ the talk…

• ACA– Administrative Cost Allowance

• POP – Potential Overaward Process

• MRR – Multiple Reporting Record

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Talkin’ the talk…

• SRC– School Relations Center

•COD customer service center in Niagara Falls, NY• CSR

– Customer service representative

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Talkin’ the talk...

• GAPS – Grants Administration and

Payment System•from whence all moneys come•funding method

–Advance Pay–Pushed Cash

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Talkin’ the talk...

• NSLDS– National Student Loan Database

System• FAA Access Online

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Talkin’ the talk...

• CPS– Central Processing System

• SAIG– Student Aid Internet Gateway

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The Care & Feeding of your FA Colleagues

“Could you use a little more scheduled time on the box, or maybe some additional bandwidth for transmitting”

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The Care & Feeding of Your FA Colleagues

“Enrolled your transfer students in NSLDS’ transfer monitoring and alert activity? I’d hate to see you spend precious time dealing with a POP’d student during Spring Peak”

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The Care & Feeding of Your FA Colleagues

• And finally...

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The Care & Feeding of Your FA Colleagues

”Silly computer system! Really, it’s not your fault. I’ll get the back-up CD and you’ll be up and running in no time”

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Questions?

I appreciate your feedback and comments. I can be reached at:

Name: Wood MasonPhone: 404.562.6270Email: wood.mason@ed.gov