We’re All in it Together!

Deborah Agee & Gloria DeLeon Assistant DirectorsStudent Financial ServicesThe University of Texas at Austin

Agenda

IntroductionsTerminologyPoints of IntersectWorking TogetherRecent Federal Rule Changes

Terminology

Terms to Know

Education Department (ED)Free Application for Student Aid (FAFSA)Cost of Attendance (COA)Expected Family Contribution (EFC)Need based aid v. Non-need based aid

Points of Intersect

Admissions

Captures student demographic data used to create initial student record.Provides basic financial aid information to students and families.Sometimes embeds financial aid staff in the Admissions office or regional centers.Schedules on-campus and off-campus events, often including financial aid staff.

RegistrarDetermines & reports enrollment status.Certifies in-school student loan deferments.Certifies enrollment for private loan applications.At UT Austin, certifies and processes Veterans benefits.Enrollment triggers financial aid release.Official withdrawal triggers financial aid exit counseling, return of Title IV funds, student loan grace period and Department of Education interest subsidies to FFEL Program loan holders.

Financial Aid

Provides financial aid information & training to Admissions staff.Participates in recruiting events.Coordinates with Admissions to target aid dollars to assist in shaping class.Supports Registrar in administering satisfactory academic progress for student veterans (as institutionally applicable).

Working Together

Importance of Working Together

Federal government uses aid dollars to influence college and university operations and data sharing.Federal operational and data reporting requirements are often an unfunded mandate.New, unfunded duties can sometimes create tension between offices.Understanding what the federal requirements are and why they are needed can smooth the way to more efficient and pleasant working relationships.

Consumer Information

General disclosures for enrolled & prospective students.Annual security report and annual fire safety report.Report on athletic program participation rates and financial support data.FERPA – Family Education Rights and Privacy Act of 1974.Textbook information.Drug and alcohol abuse prevention.

Recent Federal Rule Changes

Satisfactory Academic Progress

Schools must review both qualitative (grade-based) and quantitative (time-based or “pace”) measures at each evaluation.Students must progress through their program to ensure that they will graduate within the maximum timeframe (150% of published length of program).Schools must review at each payment period, annually, or less often than each payment period but always at the end of a payment period.Policy at least as strict as policy for non-Title IV recipients.

SAP – Cont’d

IssuesMust tell students about SAP terms and how they work.

AppealsInstitution identifies acceptable appeal situations.

National Student Loan Data System

RegistrarsEnrollment reporting is critical for not only for effective administration of Title IV student loan programs, but also so that the Department of Education can engage in budgetary & policy analysis.Registrars review, update and verify student enrollment statuses, effective dates of enrollment status, and anticipated completion dates.

Pell Grant Eligibility ChangesPell Grant regulations will no longer allow a student to receive more than one Pell Grant in a single award year.

Additionally, Pell Grant has been limited to a maximum of 12 semesters (or its equivalent).

Federal Loan Changes

Federal subsidy for graduate loans has been eliminated.Students are not eligible for subsidized loans after completion of 150% of the length of the academic program.

Shopping Sheet

Single sheet, standardized format.Can use as cover sheet with aid offer notification or as standalone notice of aid awards.Value as a consumer comparison tool.Designed for undergrads and may be modified for graduate students.Transparency and consistency in providing information to all students.

Shopping Sheet – Cont’d

Questions