Transcript FSA Tidbits
Items of note from the 2014 conference Christine Passer ◦ Southwestern Michigan College Stephanie Trapp ◦ Lansing Community College Val Meyers ◦ Michigan State University New question about being in foster care at any time (not just from age 13) ◦ Part of the demographic information ◦ Dependency question is still as it was ◦ This additional question to help schools identify these students for their on-campus programs Clarified Definition of Parent ◦ To add “a person who the state has determined is a legal parent” ◦ Also, noted that widowed stepparents are not parents for FAFSA Defined how parents qualify as Separated 1. Legal separation according to state law OR 2. Living separate lives in separate households, as though they are not married Not separated if simply living apart due to circumstances such as job, deployment Parents number in college (exclude siblings in military academies) Selective service registration required for persons assigned male sex at birth ED folks spent time explaining it is improper to use the school codes on the FAFSA as a way of determining interest in your school, or awards that you should make by trying to use the order of the schools to indicate relative interest in your school Only 30% of those students who could have been selected for V6 were in fact selected This will change for 2015-16, when all of the students who meet the criteria will be selected This could really increase the number of students you will have to verify What will College Rating System look at? ◦ Access, value, affordability and completion Sequestration is still ongoing ◦ Teach Grants, Iraq-Afghanistan Service Grants and loan fees Regulatory Updates ◦ ◦ ◦ ◦ Violence Against Women Act PLUS Adverse Credit Teacher Preparation PAYE Department does not know yet whether or not the Perkins program will end this year However, at this time you may make 15-16 awards, as long as the first disbursement will be made before October 1, 2015. If you have made the first disbursement before that date, you may make the second disbursement for the winter/spring semester On April 25, 2015, after the bulk of FAFSAs have been filed After cutoff date, students and parents will be prompted next time they access a site (studentloans.gov, or FAFSA) Create user ID, password, and create and answer security questions Can link former PIN account to the new ID Goal is to make Studentaid.gov a one-stop for all Title IV information Department of ED now looks at 4 years instead of 3 years Will report schools where the student received federal loan disbursements as well as Pell payments ED asks that you carry forward holds from year to year if the student attempts to enroll again (until they are cleared by your school) Continues to leave assessment of appeals in the hands of the institution Current Disclosures are in effect until December 31, 2016 Template released in September 2014 ◦ Data entered into the template is not saved. Schools may want to retain proof. Deadline to update Disclosures using template is January 31, 2015 ◦ If SOC Code isn’t provided, list one that represents the occupation ◦ Placement Rates are not required. However, if program accreditation requires placement rates, you must disclose. ◦ All promotion material, such as brochures, course catalog…, should reference the Disclosures. New Disclosure Requirements will be effective January 1, 2017 ◦ This gives the Department time to do consumer testing and develop new template. By July 31, 2015, report 2008-09 thru 2013-14. By October 1, 2015, report 2014-15. CIP Codes must be from 2010. Data from first reporting will not be available. Students enrollment status as of the 1st Day of Enrollment in Program. Students enrolled in more than one GE Program must be reported separately. Students who “stopped out” and re-entered the program in the same award year must be reported separately. Tuition and Fees are the student’s cost for the entire program. Non-Standard terms (Session 9) Lots of great info about what is a standard term, a non-standard term, or a nonterm Standard Term: 2 Week Tolerance ◦ An allowance of a total of 2 weeks is permitted and allows the term to remain standard. Requirement: State must authorize an institution by name to operate educational programs beyond secondary education. Requirement: State must have a process applicable to all institutions to review and act on complaints concerning the institution. Implementation Date is July 1, 2015. Section J, Question 69 of E-App identifies the State complaint process. Complaint Information must be on institution’s Website. Draft to be available in Fall 2015 Based on feedback, second draft in Spring 2016 Final data and ratings scheduled for Fall 2016 Plug and Play – FSA Easy to Use Resources FinancialAidToolkit.ed.gov ◦ ◦ ◦ ◦ Facebook Twitter YouTube http://visual.ly/users/federalstudentaid Net Price Calculator must be within 3 clicks of the school’s homepage The term “Stafford” should not be used – instead, use Direct Loans (subsidized or unsubsidized) Clery Act – reported incidents, not prosecutions, must drive Clery reports (some schools believed otherwise) PLUS Loan counseling will apply to 2014-15 loans when made available in March 15 All presentations are online at ◦ http://fsaconferences.ed.gov/2014sessions.html