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News to Know

News to Know. May 2004. Office of Student Financial Assistance Florida Department of Education. FASFAA Conference. Please mark your agenda to attend the OSFA sessions slated during the upcoming FASFAA Conference! We have some ideas of our own designed to “Shake It Up!”.

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News to Know

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  1. News to Know May 2004 Office of Student Financial Assistance Florida Department of Education

  2. FASFAA Conference • Please mark your agenda to attend the OSFA sessions slated during the upcoming FASFAA Conference! We have some ideas of our own designed to “Shake It Up!”

  3. Default Prevention and Default Aversion - How Can We Help You? • Contact your Outreach Representative TODAY to find out how we can assist your institution with your Default Prevention And Default Aversion Plan. • Preclaim Assistance Reports (with mailing label information) • Delinquent and Defaulted Borrower letters geared to your student from your institution! • On Site Financial Aid Awareness events! • AND MORE! Call us today! Let us help you help your students!

  4. Cohort Default Rate Comparison • Comparing OSFA cohort default rates to other guarantor cohort default rates can be misleading. • Because guarantors vary widely in their scope of services and the mix of postsecondary institution types, comparing ‘guarantor to guarantor’ can be misleading. For example, many private guarantors choose who they guarantee loans for and with, and often avoid high risk institutions. Public guarantors, such as OSFA, have an obligation to work with any and all institutions that are eligible to participate in the FFEL program. We take pride in working with all FFEL program participants throughout the State of Florida.

  5. Specialized Reporting Functions • Would you like to receive monthly reports that detail your loan activity? If we collect the information, we can generate a report on it! All FFEL program participants can request FFEL reports by submitting a formal records request to your Outreach Representative. Include in your request the verbiage, “I wish to receive this report on a monthly basis for the remainder of the fiscal year.” • Also, if you are currently receiving a report via fax or hard copy, but would like to receive it electronically, contact your Outreach Representative today!

  6. OSFA's NSLDS SubmissionApril 2004 • OSFA's monthly submission for the month of April 2004 was transmitted to NSLDS and processed by NSLDS on April 28, 2004. • Updates to NSLDS from this month's submission appeared on the NSLDS website on April 29, 2004. • Data contained in this month's submission reflects data extracted from our system on April 23, 2004. • The SMRY screen has been "refreshed" on April 23, 2004 and will display the NSLDS loan statuses that "should" appear in NSLDS on April 29, 2004. • Our May NSLDS submission will be processed by NSLDS on 5/26/04.

  7. Mapping Your Future Loan Forgiveness Chat • Under certain circumstances, a student loan can be forgiven, cancelled or discharged. Students now have an opportunity to ask counselors about loan forgiveness during an online chat offered by Mapping Your Future (http://mapping-your-future.org). Mapping Your Future, a public-service web site providing college, career, financial aid, and financial literacy information and services, will offer an evening Loan Forgiveness, Discharge and Cancellation Chat on May 11, 2004 at 7 PM (EST). Visitors can register to be reminded about the chat in advance by signing up online at: • http://mapping-your-future.org/services/chatnight.htm

  8. State Programs Spotlight

  9. Grade and Hours Report • The 2003-04 OSFA Grade and Hours (G&H) Report is available by batch or online via the state student financial aid database as of Monday, May 3, 2004 at: www.FloridaStudentFinancialAid.org • The Report is requested from each institution within 30 days after the end of your spring term. The deadline for all reports is no later than June 30, 2004. Institutions needing assistance beyond that date may call 1-888-827-2004 for assistance.

  10. New Brochures Available! • 2004/2005 Florida Student Assistance Grant Program (FSAG) • 2004/2005 Applying for Florida Financial Aid Just Got Easier • 2004/2005 Florida Financial Aid Programs for Publicly-Funded School Employees • Florida Bright Futures Scholarship (Coming Soon!) Contact your Outreach Representative and order yours today!

  11. Bright Futures Appeal Information • A student may appeal the loss of his or her Bright Futures scholarship even after the academic year in which the student became ineligible has passed. Students are advised in their scholarship denial letter to appeal to their institution 30 days after the date of the letter or the deadline set by the institution, whichever is later. • If the institution approves the appeal before the funding deadline has passed for the CURRENT academic year, the student becomes eligible for the current year and the institution should process all disbursements before the June funding deadline. Continued - next slide

  12. Bright Futures Appeal Information (continued) • If the institution approves the appeal after the funding deadline for the academic year has passed, the student will need to apply for reinstatement of his or her award for the scholarship for any upcoming academic year up to the 7-year deadline for using the Bright Futures Scholarship or until receipt of a bachelor's degree. • The student must continue to meet all eligibility requirements. Continued - next slide

  13. Bright Futures Appeal Information (continued) • Any time between when the student lost the scholarship and when the scholarship was reinstated WILL BE counted towards the 7-year deadline. If the student has joined the Armed Forces or is deployed, enlistment time will be credited to the 7 years of the award eligibility for that student. A form DD-214 must be provided by the student.

  14. Important Dates • 6-9-6/11, 2004 - FASFAA Spring Conference • 6/20-6/25, 2004 - SASFAA New Aid Officer Workshop • 7/18-7/21, 2004 - NASFAA Annual Conference • 11/1-11/4, 2004 - SFA Electronic Access Conference • 11/10 - 11/12, 2004 - FASFAA Fall Conference • 2/13 - 2/16, 2005 - SASFAA Annual Conference • 7/3 - 7/6, 2005 - NASFAA Annual Conference For more information on these upcoming events, check out the calendar on www.fasfaa.org

  15. Mission Statement • The Florida Department of Education, Office of Student Financial Assistance (OSFA), serves as a guarantor for the Federal Family Education Loan Program (FFELP), and the administrator of Florida’s scholarship and grant programs. The OSFA Mission is to facilitate higher education access and services by providing exemplary customer attention, comprehensive financial aid information, and convenient and efficient products.

  16. Outreach Team Contact Information • Ernest Smith, Director of Market Development • 321-773-2293 • Jacqueline Hill, Default Prevention Manager and Outreach Representative • 850-245-1893 • Karen Hurrell, Senior Outreach Representative • 904-745-3091 • Lori Auxier, Outreach Representative • 561-434-3993 • Stephanie Durdley, Outreach Representative • 727-781-1056 • Armando Salas-Amaro, Outreach Representative • 305-267-5528

  17. Regional Outreach Representative Contact Information • Customer Service is our #1 Priority! Call us today! • Lori Auxier, OSFA Outreach Representative • 3715 Kirkwood Circle • Boynton Beach, FL 33436 • 561-434-3993 (office)

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