Transcript Click here title - Welcome | MASFAP

Missouri Department of
Higher Education
State updates presented by
Leroy Wade
Today’s Agenda
• Impacts to the MDHE due to the College Cost Reduction
and Access Act (CCRAA)
• The latest Access Missouri news
• Bright Flight updates
• MDHE speakers bureau report
• Tentative dates and plans for spring 2008 beginner
workshops
• The latest MDHE publications
College Cost Reduction and Access
Act (CCRAA) Provisions
• Account Maintenance Fee (AMF) reduced
– From 10 to 6 basis points 10/1/2007 (from 0.10% to 0.06%)
– Largest impact on MDHE’s revenue
• Reduction in collections retention
– Borrower payments reduced from 23% to 16% 10/1/2007
– Smaller impact to MDHE’s revenue
• Despite cuts, MDHE will continue to earn more than we
spend
CCRAA Impacts on MDHE Services
• Minimal short-term impact (calendar year 2008)
• All existing services will continue
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Default prevention grant program
Publications and materials
Free training events and speaking services
No lender service fees for ATOM
Full subsidy of state aid administrative costs
Scholarship funding
• Long-term impact more significant (through 2013)
– Ability to add new services may be impacted
FAMOUS News
• Access Missouri
– Updates completed and implemented by deadline
– No fundamental changes in function or design
• User Manuals
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Outgrowth of Access Missouri implementation
New manuals for each interface (MDHE, PSI, High School)
PSI manual at www.dhe.mo.gov/files/PSImanual.pdf
Updated periodically or as needed
• Export Estimated Awards/Certification Table
– Implemented in late 2006
– PDF format
FAMOUS Security Project
• Overview
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In response to state audit findings
Intended to update and modernize current security
Currently in design phase
Projected completion date of December 21
• Major Changes
– ID and password assigned to each user by FAMOUS
– Electronic application to request User ID and password
– Will require periodic change of passwords
FAMOUS Security Project
• Features
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Dormant user IDs identified for deletion
Monitoring of unusual/suspicious activities
Multiple users at a single campus
Read-only or update access available
For multiple campuses, select read-only/update access by
campus
• Implementation
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Phased
All users must apply for new user ID and password
All users must provide verification of employment/position
All users must sign a user agreement
Access Missouri Updates
• Current Status (as of November 1)
– More than 34,000 students have received awards
– Approximately $28.5 M disbursed
• 2006-2007 Comparison (Gallagher & Guarantee)
– 16,000+ students received awards
– Approximately $25 M disbursed
• Award amounts
– Public 2-yr: $700 - $300
– Public 4-yr: $1,500 - $1,000
– Independent: $3,200 - $2,000
Access Missouri Updates
• Remainder of 2007-2008
– Evaluate remaining funds in December
– Mid-year adjustment to annual award amounts possible
– Administrative rule implementation
• Currently under emergency rule
• Final rule filed w/ public comment beginning 11/15
• Final rule effective in late March
• Other updates
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Grade point average requirement (2.5) for 2008-2009 renewal
Development of performance measures
Additional funding for FY 2009
Award amounts re-evaluated for 2009-2010
Sunset in August 2013, unless reauthorized
Bright Flight News
• Cut Score for 2008-2009 Incoming Freshmen
– ACT – 31 composite
– SAT – 790 math; 780 verbal
• New CGPA Requirement (2.5) for 2008-2009 renewals
• Changes for 2010-2011
– $3,000 award for top 3 percent
– $1,000 award for score in 3 to 5 percent range
– Related FAMOUS updates implemented by Jan. 2010
• Other news
– Funding
– Statutory revisions
– Eligibility updates after 9/28 are on case by case basis
Other MDHE News
• Coordinated Plan for Missouri Higher Education
• Higher Education Funding Task Force
• Senate Bill 389 Implementation
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Consumer information
Performance measures
Dispute resolution
Student Funding Act
“No better than free”
Missouri Teaching Fellows Program
MDHE Speakers Bureau Report
• 17 requests since July 1, 2007
– Number one requested topic = Entrance counseling
– Total audience size for all events = 826
• New topics added to the list
– Total number of topics now = 15
– Plus, 10 additional tentative topics being considered
– If you have topic ideas, contact your MDHE client service
representative or Lesley Hendrix ([email protected])
MDHE Speakers Bureau Report
• Current FAO topic list
– Beginner financial aid
– Communicating with
younger audiences
– FFELP change transactions
– FFELP processes/data flows
– Improving FA nights
– Missouri legislative processes
– NSLDS
– School record keeping
– Using MS Excel to improve
financial aid reporting
• Additional tentative topics
– How to prepare a Request
for Information (RFI) or
proposal (RFP)
– R2T4 (refunds)
– FFELP overawards
– Borrower choice and best
practices
– FERPA, ID theft, and related
items
– Leadership skills
– Managing a multigenerational workforce
– How to prepare a grant
proposal
Spring 2008 Beginner Workshops
• Curriculum and materials
– Beginner FAO workbook with case studies and exercises
– Financial Aid Dictionary
– Tentative topics that may be covered:
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Awarding/packaging and certifying loans
State aid basics, including Access Missouri
Borrower choice requirements
Disbursing and delivering financial aid
Withdrawals, overawards, and R2T4
Entrance and exit counseling requirements, and student loan
repayment options
• Electronic resources for FAOs and how to find information
Spring 2008 Beginner Workshops
• Five locations
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Cape Girardeau (March 4)
St. Louis (March 6)
Springfield (March 11)
Kansas City (March 13)
Jefferson City (March 14)
• Class size of 20 per location
• Training materials and workshop are free
– Morning refreshments provided
– Lunch on your own
MDHE Publications
• After new branding and redesign:
– Overall increase in orders by 45% from 2006 to 2007
– The Source increased by 122%
• New as of this MASFAP conference:
– Smart Approach folders for entrance counseling and new
borrowers
• Publications in the pipeline
– Redesigned Good News for Defaulted Borrowers brochure
– New financial literacy and money management piece
New Publication Order Form
• Online publication order form redesigned this week
– Migration last weekend
• New functionality
– Audience type drop-down list box
– Email confirmations when:
• Order received
• Order shipped
• Line items backordered
– Improved format/edits for “Need by date” field
MDHE Holiday Open House
• Friday, December 7, 1-5pm
– Invitations will be mailed soon
– Building tours and refreshments
Questions?
3515 Amazonas Drive
Jefferson City, MO 651O9
(8OO) 473-6757
(573) 751-3940
Fax (573) 751-6635
[email protected]
www.dhe.mo.gov