Transcript Document

State Aid Basics
Division of Student Financial Aid (SFA)
Indiana Commission for Higher Education
State Financial Aid Programs
Need-Based Awards
• Frank O’Bannon
– Higher Education Award
– Freedom of Choice Award
• 21st Century Scholars Program
Non Need-Based Awards
• National Guard Supplemental Grant
• Children of Veteran Awards
• Mitch Daniels Early Graduation Scholarship
Frank O’Bannon Grant
• Higher Education Award & Freedom of Choice
• The applicant must:
– Be an Indiana resident by December 31, 2012
– Be a US Citizen or eligible noncitizen
– Be a high school graduate or hold a GED
– Attend an eligible Indiana institution
– Be a full-time student
– File a clean, on-time FAFSA
Frank O’Bannon Grant
• Higher Education Award
(HEA)
– Students attending
public and proprietary
institutions receive all
state aid from this fund
• Freedom of Choice
Grant (FOC)
– Students attending
private institutions
receive state aid from
this fund as well as the
HEA fund
• 90% FOC
• 10% HEA
Frank O’Bannon Grant
• Awards is calculated using SFA award formula
– Tuition at SFA cap times;
– High school diploma type, Associate Degree or
Professional Degree minus;
– Student’s Parental Contribution (PC) or Expected
Family Contribution (EFC)
21st Century Scholars Program
• 7th and 8th graders may enroll by June 30
• Student’s household must have annual
income of not more than amount required to
qualify for federal free or reduced price
lunches
21st Century Scholars Program
• Need-based 21st Scholars
receive funds from both the
Frank O’Bannon Grant and
the 21st Century Scholarship
fund
– The 21st Century
Scholarship portion is
applied as follows:
• Public College
– 21st amount is difference between
current year tuition and FOB award
• Private College
– 21st amount is difference between
private college cap and FOB award
• Proprietary College
– 21st amount is difference between
proprietary college cap and FOB
award
National Guard Supplemental Grant
•
•
•
•
100% of tuition and regularly assessed fees
Public institutions only
Certified by Guard Unit each semester
Student must be in active drilling status,
cannot have been AWOL during prior year
• Must file FAFSA by March 10 and complete
required National Guard paperwork
Part-time Grant
• Students attending 2-11 credit hours (or parttime equivalent) and meeting SFA priority criteria
can receive grant
• Schools calculate grant based on 80% of tuition
cap minus the students’ PC/EFC and multiplied by
the number of credit hours being taken
Children of Veteran Awards (CVO)
•
•
•
•
100% of tuition and regularly assessed fees
Public institutions only
Eligible children of disabled Indiana veterans
Eligible children of National Guard members
killed while serving on state active duty
• Eligible children of Indiana public safety
officers killed in the line of duty
Mitch Daniels Early Graduation
Scholarship
• $4,000 scholarship to be applied toward
tuition and regularly assessed fees, balance
remitted to scholarship recipient
FAFSA
• RECEIVED by the federal processor between
January 1, 2013 and March 10, 2013
• Corrections received by May 15, 2013
• REMEMBER
– Students must file the CORRECT year’s FAFSA
– Students should file a FAFSA each year by March 10
even if they are not sure whether they will be
attending college
– FAFSA may be filed with estimated tax information in
order to meet March 10 deadline
FAFSA
• SFA receives FAFSAs for dependent or independent students
listing Indiana (IN) as their state of legal residence or from
dependent students whose parents list IN as their state of
legal residence
• ISIRs are “drawn down” from the CPS each week night;
transactions submitted by students and colleges are normally
received 2-5 days from the date of submission depending on
the time of year
SFA Award Cycle
• Three cycles in the SFA Award Calendar
– Application (APPL) cycle
• Begins in February
– Notification (NOTF) cycle
• Begins in June/July
– Reconciliation (RECN) cycle
• Begins in late summer/early fall based on SFA’s
classification of the institution
SFA Award Cycle
• SFA Award cycles overlap from February
through May each year
– As an example, currently we are in the AY 2012-13
RECN file cycle. The AY 2013-14 APPL cycle will
begin in February of 2013
• Student records for two different years appear
in xGrads and in APPL and RECN files
Claiming Awards from SFA
• Two types of state financial aid awards
– Reconciled Awards (Awards SFA creates)
• Frank O’Bannon Grant, 21st Century Scholarship,
National Guard Supplemental Grant
– Billed Awards (Awards institutions bill SFA for)
• Mitch Daniels Early Graduation Scholarship, CVO,
Minority Teacher/Special Services and Nursing
Scholarships, Part-time Grant
Claiming Awards from SFA
• Awards can be claimed two ways
– File transfer
• Institutions return an appropriately populated and
formatted reconciliation (RECN) or fee remission billing
(FRBI) file to SFA by uploading in xGrads
– Individually
• Institutions can claim and bill for student awards
individual in xGrads
Claiming Awards from SFA
• Deadlines to claim awards are based on the
classification of the institution:
Claiming Awards from SFA
• Issues with student records MUST be cleared
before claiming SFA awards:
– Professional Judgment
• Appropriate reason code must be applied
– Default/Overpayment
• Must be cleared
– Residency
• must be complete before each term award
reconciliation and billing deadline
Grade Point Average
• For students first entering an eligible Indiana
institution after June 30, 2012
– Higher Education Award
– Freedom of Choice
– 21st Century Scholarship
– Child of Disabled Veteran Awards
• If parent enlisted after June 30, 2011
Grade Point Average
• Requirements
– Successfully completed work of previous year
• Did student meet institution’s definition of Satisfactory
Academic Progress?
– Remains domiciled in Indiana
– Meet financial need guidelines
– Based on cumulative Grade Point Average,
changes according to class standing
Grade Point Average
• Freshman
– Satisfactory Academic Progress
– Individual institutions’ definitions may vary
• Sophomore
– 2.25 on 4.00 scale
• Junior and Senior
– 2.50 on 4.00 scale
Grade Point Average
• Institutions will report cumulative GPAs and class standing,
based on loan limits, for all students filing a FAFSA and listing
Indiana as their state of legal residence
– Initial term not meeting GPA requirement
• Warning
– Subsequent terms not meeting GPA requirement
• Ineligible for aid
Grade Point Average
• At the end of each term a
smaller report will be
required; this report should
contain data for aid
recipients who are in or
have previously used a
warning semester
• New fields in the APPL,
NOTF and RECN files will list
students’ subject to GPA
requirements
• SFA has requested a trial
data file submission in
January 2013; this file will
not be evaluated for GPA
requirements
Professional Degree
• Four or five year postsecondary school course
of study
• Student may be admitted without an
undergraduate degree
• Leads to degree that is not undergraduate or
graduate degree as determined by
Commission
• Prepares holder of degree for a profession
Associate Degree
• Student did not graduate with Academic
Honors or Technical Honors Diploma
• Student receives Associate Degree from
eligible Indiana institution
• Student then enrolls in baccalaureate program
• Student qualifies for Frank O’Bannon award
Reporting Associate and Professional
Degree Students
• Both Associate and
Professional Degree
students can be reported to
SFA via file transfer or
through xGrads
• Associate Degree
– Eligible for a 20% increase on
an FOB award
• Professional Degree
– Eligible to receive FOB and
21st awards
• May receive additional
funds based on high
school diploma type
Eight-Year Rule
• Awards are only renewable, if otherwise
eligible, for eight years
• “After date the individual first applies after
July 1, 2011 and becomes eligible for benefits”
• SFA has defined as when student first starts
taking classes
21st Century Scholars Program
Regional Support
• Move from a direct-service model to one
based on partnerships and collaborations
• 8 regions through the state
• 1 Outreach Coordinator per region
Primary charge to
work with K-12
schools,
postsecondary
institutions and
community
partners to support
Scholars in that
region
21st Century Scholars Program
Current Grade
Level/
Graduation Year
Scholar Success
Program
High School
Cumulative
GPA
Annual
FAFSA
Filing
Financial
Means
Testing
College
Enrollment
Guaranteed
Full Tuition
Scholarship
Expiration
Enrolled as a Scholar BEFORE June 30, 2011
12 (Class of 2013)
Recommended
2.0
Yes
No
Within 1 Year
Yes
8 Years
11 (Class of 2014)
Recommended
2.0
Yes
No
Within 1 Year
Yes
8 Years
10 (Class of 2015)
Recommended
2.5
Yes
No
Within 1 Year
Yes
8 Years
9 (Class of 2016)
Recommended
2.5
Yes
No
Within 1 Year
Yes
8 Years
8 (Class of 2017)
Recommended
2.5
Yes
No
Within 1 Year
Yes
8 Years
Enrolled as a Scholar AFTER June 30, 2011
9 (Class of 2016)
Recommended
2.5
Yes
Yes
Within 1 Year
No
8 Years
8 (Class of 2017)
Required
2.5
Yes
Yes
Within 1 Year
No
8 Years
7 (Class of 2018)
Required
2.5
Yes
Yes
Within 1 Year
No
8 Years
Resources for Financial Aid Staff
• xGrads Information Files section
– Contains guidebooks, file layouts, award calculators, results files and
user agreement forms for SFA systems
• SFA website
– Memoranda section
• Contains program-related memoranda provided to colleges partners
– College Partners section
• Contains PowerPoint's of past SFA presentations
• SFA Listserv
– Signup to receive group specific new and notices related to state aid
More Information
• Website: www.in.gov/che
– Click the “Division of Student Financial Aid” link
• Email: [email protected]
• Phone: 317.232.2350
• Fax: 317.232.3260