Session 43 Financial Aid For Technical Staff Wood Mason.

Session 43

Financial Aid For Technical Staff

Wood Mason

Session 43

Al Beeouttahere

3

But First…

It’s Picture Time!

Session 43

Send $50 cash to…

Al Beeouttahere555 East West Ave

Algernona, GA 67890

6

In a Nutshell…

• Student applies• ED calculates EFC• School determines aid

offered

7

History…

• Harvard University– May 9, 1643

•Lady Ann Radcliffe Mowlson endowed Harvard’s first scholarship fund

– 1840 •Harvard’s first loan program

8

History…

• Peabody Education Fund– 1867– $2 million dollars over 30

years

9

History…

• 1867– U.S. Department of Education

• 1979– cabinet level post

10

History…

• National Youth Administration– 1935– FDR “New Deal” program– can you say Tech School?

11

History…

• 1944 - Serviceman’s Readjustment Act

• 1952 - Veteran’s Readjustment Assistance Act

12

History…• 1950’s

– Nat’l Defense Education Act of 1958•Nat’l Defense Student Loan

Program (morphed into Perkins Loan Program)

13

History…

• Higher Education Act of 1965

– Guaranteed Student Loan Program – Educational Opportunity Grant

14

History…• Higher Education Reconciliation

Act of 2005– ACG/National SMART awards– GRAD/Professional Student PLUS

borrowers

15

Application

• FAFSA– Free Application for

Federal Student Aid

16

Application

NOTE: All COD interfaces routed through EAI except DCS.

SAIGSchools

EFC Calc DB Matches

Central Processing System

(CPS)

Students *

*FOTW – FAFSA on the web

17

Application

• Aid Eligibility/Determination– CPS

•Central Processing System

– EFC •Expected Family Contribution

18

Awarding

COA (Cost of Attendance)– EFC

NEED

19

Awarding

• Grants– Pell Grant– ACG (Academic Competitiveness

Grant)– National SMART Grant (National

Science and Mathematics Access to Retain Talent Grant)

20

Awarding

• Campus Based Programs– FSEOG

•Federal Supplemental Educational Opportunity Grant

– FWS •Federal-Work Study Program

– Perkins Loan Program

21

Awarding

• Loan Programs– William D. Ford Federal Student

Direct Loan Program– Federal Family Education Loan

Program– alternative loans

22

Awarding

• School Aid – scholarships– grants

23

The COD Boogie

SAIG

Financial Mgt

System(FMS)

Loan Servicing System(DLSS)

ACG, SMART, Direct Loan and Pell Origination, Change and Disbursement data

Batch and web-generated Responses

CentralProcessing

System(CPS)

Loan Bookings & Disbursements

School

Eligibility

Data

Funding Transactions

Payment Transactions

Student Level Grant Data

Student Level Direct Loan Data

FMSS / GAPS

Schools

Drawdowns

Post Secondary Education Participant

System(PEPS)

Student

Applicant

Data

Payment Transactions

Student Data

Storage(NSLDS)

Common Origination & Disbursement (COD)

TransactionProcessing

Web Reports

Customer Service Center

Applicant Services

Debt Collection Services (DCS)

Student

Pell

Payment

Data

24

25

The COD Boogie

SAIG

ACG, SMART, Direct Loan and Pell Origination, Change and Disbursement data

Batch and web generated Responses

CentralProcessing

System(CPS)

GAPS

Schools

Drawdowns

Student Data

Storage(NSLDS)

Common Origination & Disbursement (COD)

TransactionProcessing

Web Reports

Customer Service Center

Applicant Services

26

Processing – COD

• Common Origination & Disbursement (COD)– Pell– ACG– National SMART Grant– Direct Loans

27

Processing - COD

• Common Record• Response

28

The Award Year

• July 1, 2007 – June 30, 2008– applications– awarding

29

The Award Year

• Summer term– program year closeout for loans

(prior award year)– applications– awarding– header/trailer

30

The Award Year

•Fall PEAK–traditionally chaotic–registration and start–Grant year-end reconciliation and closeout

31

The Award Year

•Spring PEAK–registration and start of classes–transfers–grant global jobs–applications/awarding for NEXT award year

32

33

The Next Award Year

• Program changes– rules– regulations– requirements– edits – dollars and data

34

The Next Award Year

• IT changes– all of it...

•CPS•COD•any other system that touches your

school

35

Talkin’ the talk…

• COD Tech Ref– glossary – IFAP.ed.gov

•Information for Student Aid Professionals

36

Talkin’ the talk…

• ACA– Administrative Cost Allowance

• POP – Potential Overaward Process

• MRR – Multiple Reporting Record

37

Talkin’ the talk…

• SRC– School Relations Center

•COD customer service center in Niagara Falls, NY• CSR

– Customer service representative

38

Talkin’ the talk...

• GAPS – Grants Administration and

Payment System•from whence all moneys come•funding method

–Advance Pay–Pushed Cash

39

Talkin’ the talk...

• NSLDS– National Student Loan Database

System• FAA Access Online

40

Talkin’ the talk...

• CPS– Central Processing System

• SAIG– Student Aid Internet Gateway

41

The Care & Feeding of your FA Colleagues

“Could you use a little more scheduled time on the box, or maybe some additional bandwidth for transmitting”

42

The Care & Feeding of Your FA Colleagues

“Enrolled your transfer students in NSLDS’ transfer monitoring and alert activity? I’d hate to see you spend precious time dealing with a POP’d student during Spring Peak”

43

The Care & Feeding of Your FA Colleagues

• And finally...

44

The Care & Feeding of Your FA Colleagues

”Silly computer system! Really, it’s not your fault. I’ll get the back-up CD and you’ll be up and running in no time”

45

46

Questions?

I appreciate your feedback and comments. I can be reached at:

Name: Wood MasonPhone: 404.562.6270Email: [email protected]