Transcript Main Title Here

2011 MASFAA Fall Training
Mississippi Office of
Student Financial Aid:
State Aid Update
October 12, 2011
UPDATES
AND
REMINDERS
FAFSA – State Application
Interface
• Testing: November 2011
• Go Live: January 1, 2012
Policies & Procedures
Manual
• Draft available; seeking feedback
• Approvals:
– Post-Secondary Board: December 2011
– IHL Board: January 2011
• Content:
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Statutory authority for administration
MOSFA, institution, and student duties/responsibilities
Program funding/budgeting process
Application process/Determining student eligibility
Award offer/Disbursement processes
Repayment of loan/scholarships
Program Rules & Regulations
FY 2011 Budget
• Awarded all eligible
applicants in all
programs
• Exceeded general
funds appropriated;
used special funds
from collection of
repayment of
loan/scholarships
to fund balance
REVENUES
General Funds
$
26,915,820
Carryover - Treasury Fund
$
923,225
LEAP
$
286,315
Critical Needs Fund
$
530,237
Collections
$
-
TOTAL Revenues $
28,655,597
EXPENSES
Awards
$
27,734,605
Admin
$
920,992
TOTAL Expenses $
28,655,597
FY 2012 Budget
• Awarded all eligible
applicants in all
programs
REVENUES
General Funds
$ 26,878,808
Carryover - Treasury Fund
$
Critical Needs Fund
$
2,023,443
Collections
$
2,176,886
-
TOTAL Revenues $ 31,079,137
• Will exceed general
funds and will expend all
funds in special funds
• Will request deficit
appropriation of
approximately $750,000.
EXPENSES
Awards
$ 31,275,465
Admin
$
960,000
TOTAL Expenses $ 32,235,465
BALANCE
With All Revenue $ (1,156,328)
Awards Comparison
FY 2011
Program Name
Awards
FY 2012
Total Amount
Awards
Total Amount
MTAG
23,089
$
14,016,722
22,014
$ 13,406,526
MESG
2,012
$
4,810,293
2,074
$
5,092,093
HELP
313
$
1,533,711
647
$
3,253,663
26,773
$
21,483,991
24,760
7
$
19,200
26,780
$
21,503,191
24,766
CNTP
150
$
1,848,604
174
$
2,293,046
WWTS
454
$
1,626,334
667
$
2,505,329
NELB
226
$
762,070
355
$
1,354,388
1,021
$
4,843,204
1,525
$ 7,243,519
277
$
1,388,210
313
$ 2,036,996
Total Ln/Schols
1,298
$
6,231,414
1,838
$ 9,280,515
TOTAL STATE AID
28,078
$
27,734,605
26,604
$ 31,275,465
All Undergraduate Grants
Graduate Grants
Total Grants
Undergraduate Ln/Schols
Graduate Ln/Schols
6
$ 21,960,950
$
34,000
$ 21,994,950
Farewell LEAP
• No federal funding for LEAP for FY12
• No state funding for LEAP for FY12
New Program
• Family Protection Specialist Social Worker
Loan/Scholarship Program
– Students MUST be employed by DHS as
Family Protection Worker I or II
– Licensed Social Worker (Bachelor)
– Licensed Master Social Worker (Masters)
– Must work 3 years as Family Protection
Specialist (or higher) for DHS upon licensure
Program Change
• Veterinary Medicine Minority
Loan/Scholarship
– Affects MSU only
– Increase award amount from $6,000 to full
tuition
Summer Disbursement for
Nursing Education L/S
• Applies to: ASU, DSU, MC, MUW, UMMC,
USM, and WCU
• Previously planning to award based on
whether summer term required.
• Now planning to award based on
application.
Enrollment Report for
Nursing Students
• Applies to: ASU, DSU, MC, MUW, UMMC,
USM, and WCU
• Report # of hours AND enrollment status
(FT, PT, HT, QT) for nursing students
• Rationale:
– Nursing students can be part-time
– Various programs (particularly grad programs)
have widely varying definitions of part-time,
making it very difficult for us to program for all
possibilities
Graduation Date on
Grade Report
• Required for 4-year institutions
• Add graduation date to Grade Report
• Character - Left justified. Format as ‘DDMON-CCYY’. Example 13-DEC-2001
• Community colleges can have place-holder
• Rationale:
– Improve data integrity for determining
separation dates for loan/scholarship recipients
Loan Servicing Change
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ACS: Old servicer
ECSI: New servicer
July 1: Conversion date
Loan servicer manages ALL
loan/scholarship accounts after exit
• Electronic entrance counseling,
contracts/rules & regs, and exit counseling
Reminder: Deadlines
COMMON
QUESTIONS
Where Is Our Money???
• Students complete application; deemed eligible
• Student receives award offer notification; school
sees student on Award Report
• School submits Enrollment Verification Report
• MOSFA processes Enrollment Verification Report
• MOSFA requests money from IHL, which
requests money from DFA
• DFA sends money to IHL, which sends money to
schools
• MOSFA posts Disbursement Reports
Changes to Enrollment
Status
• If a student’s status changes to full-time
after you have submitted the Enrollment
Verification Report, you may submit
Enrollment Verification for student
• School bears responsibility of verifying
enrollment
Returning Funds
• Policy
– If student drops below full-time status AFTER
receives money, student keeps money for term and
student loses for next term
– If student drops below full-time status BEFORE
receives money, money returned for term and student
loses for current term AND next term.
Full-time Enrollment
• 12 semester hours/9 trimester hours
• Only courses listed as “undergraduate” in
course catalog accepted
• Courses must be term bound - some
independent study or correspondence
courses are not accepted
MOSFA Staff
800-327-2980 OR 601-432-6997
•
Jennifer Rogers, Director – [email protected]
– Programs: GEAR UP, Youth Advisory Board
•
Meg Harris, Assistant Director – [email protected]
– Programs: William Winter, Counselor and School Administrator, and Graduate
Teacher
•
Beverly Jackson, Senior Systems Analyst – [email protected]
– Handles all reports (grade, enrollment, balancing) and rosters (disbursement, award,
etc.)
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Stephanie Green, Program Administrator – [email protected]
– Programs: Nursing Education, Nursing Teacher Stipend, SREB Regional Contract
Program, Vet Med, Health Care Professions, Law/Fire, Doctoral Scholars, Gulf Coast
Research Lab Intern, and Public Management Graduate Intern
•
Babs McAlpin, Program Administrator – [email protected]
– Programs: HELP, Nissan, Graduate and Professional Degrees, State Medical, State
Dental, and Summer Development
•
Apryll Washington, Program Administrator – [email protected]
– Programs: Critical Needs, MS Teacher Loan Repayment
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Wayne Carlisle, Systems Analyst – [email protected]
Renotta Jones, Administrative Assistant – [email protected]
Shirley Mitchell, Secretary/Receptionist – [email protected]
Questions?