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Missouri Department of Higher Education

Missouri Department of Higher Education. State updates presented by Leroy Wade. Today’s Agenda. Impacts to the MDHE due to the College Cost Reduction and Access Act (CCRAA) The latest Access Missouri news Bright Flight updates MDHE speakers bureau report

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Missouri Department of Higher Education

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  1. Missouri Department of Higher Education State updates presented by Leroy Wade

  2. Today’s Agenda • Impacts to the MDHE due to the College Cost Reduction and Access Act (CCRAA) • The latest Access Missouri news • Bright Flight updates • MDHE speakers bureau report • Tentative dates and plans for spring 2008 beginner workshops • The latest MDHE publications

  3. College Cost Reduction and Access Act (CCRAA) Provisions • Account Maintenance Fee (AMF) reduced • From 10 to 6 basis points 10/1/2007 (from 0.10% to 0.06%) • Largest impact on MDHE’s revenue • Reduction in collections retention • Borrower payments reduced from 23% to 16% 10/1/2007 • Smaller impact to MDHE’s revenue • Despite cuts, MDHE will continue to earn more than we spend

  4. CCRAA Impacts on MDHE Services • Minimal short-term impact (calendar year 2008) • All existing services will continue • Default prevention grant program • Publications and materials • Free training events and speaking services • No lender service fees for ATOM • Full subsidy of state aid administrative costs • Scholarship funding • Long-term impact more significant (through 2013) • Ability to add new services may be impacted

  5. FAMOUS News • Access Missouri • Updates completed and implemented by deadline • No fundamental changes in function or design • User Manuals • Outgrowth of Access Missouri implementation • New manuals for each interface (MDHE, PSI, High School) • PSI manual at www.dhe.mo.gov/files/PSImanual.pdf • Updated periodically or as needed • Export Estimated Awards/Certification Table • Implemented in late 2006 • PDF format

  6. FAMOUS Security Project • Overview • In response to state audit findings • Intended to update and modernize current security • Currently in design phase • Projected completion date of December 21 • Major Changes • ID and password assigned to each user by FAMOUS • Electronic application to request User ID and password • Will require periodic change of passwords

  7. FAMOUS Security Project • Features • Dormant user IDs identified for deletion • Monitoring of unusual/suspicious activities • Multiple users at a single campus • Read-only or update access available • For multiple campuses, select read-only/update access by campus • Implementation • Phased • All users must apply for new user ID and password • All users must provide verification of employment/position • All users must sign a user agreement

  8. Access Missouri Updates • Current Status (as of November 1) • More than 34,000 students have received awards • Approximately $28.5 M disbursed • 2006-2007 Comparison (Gallagher & Guarantee) • 16,000+ students received awards • Approximately $25 M disbursed • Award amounts • Public 2-yr: $700 - $300 • Public 4-yr: $1,500 - $1,000 • Independent: $3,200 - $2,000

  9. Access Missouri Updates • Remainder of 2007-2008 • Evaluate remaining funds in December • Mid-year adjustment to annual award amounts possible • Administrative rule implementation • Currently under emergency rule • Final rule filed w/ public comment beginning 11/15 • Final rule effective in late March • Other updates • Grade point average requirement (2.5) for 2008-2009 renewal • Development of performance measures • Additional funding for FY 2009 • Award amounts re-evaluated for 2009-2010 • Sunset in August 2013, unless reauthorized

  10. Bright Flight News • Cut Score for 2008-2009 Incoming Freshmen • ACT – 31 composite • SAT – 790 math; 780 verbal • New CGPA Requirement (2.5) for 2008-2009 renewals • Changes for 2010-2011 • $3,000 award for top 3 percent • $1,000 award for score in 3 to 5 percent range • Related FAMOUS updates implemented by Jan. 2010 • Other news • Funding • Statutory revisions • Eligibility updates after 9/28 are on case by case basis

  11. Other MDHE News • Coordinated Plan for Missouri Higher Education • Higher Education Funding Task Force • Senate Bill 389 Implementation • Consumer information • Performance measures • Dispute resolution • Student Funding Act • “No better than free” • Missouri Teaching Fellows Program

  12. MDHE Speakers Bureau Report • 17 requests since July 1, 2007 • Number one requested topic = Entrance counseling • Total audience size for all events = 826 • New topics added to the list • Total number of topics now = 15 • Plus, 10 additional tentative topics being considered • If you have topic ideas, contact your MDHE client service representative or Lesley Hendrix (lesley.hendrix@dhe.mo.gov)

  13. Current FAO topic list Beginner financial aid Communicating with younger audiences FFELP change transactions FFELP processes/data flows Improving FA nights Missouri legislative processes NSLDS School record keeping Using MS Excel to improve financial aid reporting Additional tentative topics How to prepare a Request for Information (RFI) or proposal (RFP) R2T4 (refunds) FFELP overawards Borrower choice and best practices FERPA, ID theft, and related items Leadership skills Managing a multi-generational workforce How to prepare a grant proposal MDHE Speakers Bureau Report

  14. Spring 2008 Beginner Workshops • Curriculum and materials • Beginner FAO workbook with case studies and exercises • Financial Aid Dictionary • Tentative topics that may be covered: • Awarding/packaging and certifying loans • State aid basics, including Access Missouri • Borrower choice requirements • Disbursing and delivering financial aid • Withdrawals, overawards, and R2T4 • Entrance and exit counseling requirements, and student loan repayment options • Electronic resources for FAOs and how to find information

  15. Spring 2008 Beginner Workshops • Five locations • Cape Girardeau (March 4) • St. Louis (March 6) • Springfield (March 11) • Kansas City (March 13) • Jefferson City (March 14) • Class size of 20 per location • Training materials and workshop are free • Morning refreshments provided • Lunch on your own

  16. MDHE Publications • After new branding and redesign: • Overall increase in orders by 45% from 2006 to 2007 • The Source increased by 122% • New as of this MASFAP conference: • Smart Approach folders for entrance counseling and new borrowers • Publications in the pipeline • Redesigned Good News for Defaulted Borrowers brochure • New financial literacy and money management piece

  17. New Publication Order Form • Online publication order form redesigned this week • Migration last weekend • New functionality • Audience type drop-down list box • Email confirmations when: • Order received • Order shipped • Line items backordered • Improved format/edits for “Need by date” field

  18. MDHE Holiday Open House • Friday, December 7, 1-5pm • Invitations will be mailed soon • Building tours and refreshments

  19. Questions? 3515 Amazonas Drive Jefferson City, MO 651O9 (8OO) 473-6757 (573) 751-3940 Fax (573) 751-6635 Info@dhe.mo.gov www.dhe.mo.gov

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