News to Know

1. News to Know June 2004 OFFICE OF STUDENT FINANCIAL ASSISTANCE Florida Department of Education

2. FASFAA Conference • “Shake It Up” with the right Guarantor! Mark your FASFAA Calendars to join us for the OSFA Guarantor Update on June 9, 2004 at 9:00 AM. We have exciting news to share with you about Default Prevention, our new web-enabled “front end” and more! • A sponsored Continental Breakfast will be provided during the Guarantor Update!

3. FASFAA Conference (cont.) • Hands on Training for both SSFAD and a demonstration of our NEW web-enabled “front end” system will be available during the FASFAA Conference. • Check the FASFAA Agenda for hours and room location! • Stop by and see what exciting changes have been made!

4. FASFAA Conference (cont.) • Stop by the OSFA Booth in the FASFAA Vendor Area to see your two favorite people, ALLIE AND TANGELA! They can’t wait to see everybody!The rest of us will be there too, but we know who you all want to see first! • Also, drop off your business card for a chance to win an Attaché case!

5. Employee Spotlight of the Month • Allie Gamble began her career with OSFA in November 1978. Allie has devoted her entire OSFA career to the Loan Origination Department and in her role as Loan Origination Coordinator is widely accepted as an industry expert for loan reallocations, loan type changes, aggregate limit calculations, Federal Title IV regulations, and more! Because of her expertise, professionalism and ever-present smile, OSFA recognizes Allie Gamble as a truly valuable employee and an asset to the OSFA Team!

6. Student Spotlight of the Month • If there were a "University of Life" and it gave out diplomas for experience, Nicholas Midelis would have a Ph.D. Instead, Midelis, 84, will pick up his Associate in Arts degree from Indian River Community College (IRCC). The school doesn't keep records on the ages of its graduates, but "if he's not our oldest ever, he's certainly one of our oldest,” spokeswoman Michelle Abaldo said. Congratulations go out to Nicholas Midelis! Courtesy of Tyler Treadway, Ft. Pierce Tribune

7. Federal student loan rates for 2004-2005 will once again drop to a historic low, saving money for thousands of student loan borrowers. The rates are based on the May 24 91-day Treasury bill auction and will go into effect on July 1. The new rates (rounded to the nearest hundredth) are as follows: Stafford loan repayment rates will fall from 3.42% (in 2003-2004) to 3.37% Stafford in-school and grace period rates will fall from 2.82% to 2.77% PLUS loan rates will fall from 4.22% to 4.17% Consolidation loan repayment rates will fall from 3.5% to 3.38% Consolidation loan in-school and grace period rates remain at 2.88% 2004/2005 Interest Rates

8. OSFA’s NSLDS Submission May 2004 • OSFA's monthly submission for the month of May 2004 has been transmitted to NSLDS and was processed by NSLDS on May 26, 2004. • Updates to NSLDS from this month's submission appeared on the NSLDS website on May 26, 2004. • Data contained in this month's submission reflects data extracted from our system on May 24, 2004. • The SMRY screen has been "refreshed" and now displays the NSLDS Loan Statuses that "should" appear in NSLDS on May 29, 2004. • Our June NSLDS submission will be processed by NSLDS on June 23, 2004.

9. Update From Tallahassee • On Thursday, May 20, 2004, Governor Bush signed legislation to create a sales tax holiday from July 24th to August 4th that will save Floridians more than $90 million. Shoppers will pay NO state or local option tax on most back to school items, including books and clothes costing less than $50. The sales tax on gasoline will also be REDUCED by 8 cents per gallon during the month of August.

10. Continued Understanding Florida Statutes • Florida Statutes are a permanent collection of state laws updated annually and organized by subject area into a code made up of titles, chapters, parts, and sections. All Florida scholarship and grant programs are governed by Florida Statute.

11. Continued Understanding Florida Statutes • How Does An Idea Become A Law? • Either house may originate any type of legislation, however the processes differ slightly between houses. A legislator sponsors a bill, which is referred to one or more committees related to the bill's subject. The committee studies the bill and decides if it should be amended, pass, or fail. If passed, the bill moves to other committees of reference or to the full house. The full house then votes on the bill. If a bill passes in one house, it is sent to the other house for review. A bill goes through the same process in the second house as it did in the first. A bill can go back and forth between houses until a consensus is reached. Of course, the measure could fail at any point in the process.

12. Continued Understanding Florida Statutes • When Does All This Happen? • The Florida Legislature meets annually. The regular session begins on the first Tuesday after the first Monday in March and lasts for sixty days. It ends either in sine die adjournment (sine die is a Latin phrase meaning "without day") or in an extension of the regular session to complete unfinished work. The Governor has 15 days from the date it is presented to him to sign or veto a bill before it becomes law without signature. The only bill the Legislature is required to pass is the Appropriations Bill. This year, the Governor’s deadline for the Appropriations bill is June 4.

13. Understanding Florida Statutes • You can view Statutes on Florida Scholarships and Grants at: http://www.flsenate.gov/Statutes/index.cfm?App_mode=Display_Statute&URL=Ch1009/ch1009.htm • Get to know your State better! You can view all Statutes governing the State of Florida at: http://www.flsenate.gov/Statutes/index.cfm?submenu=-1&Tab=statutes

14. Common Origination and Disbursement FAQ • IFAP has updated the list of Common Origination and Disbursement (COD) Frequently Asked Questions. The document can be viewed at: http://ifap.ed.gov/eannouncements/0512FAQCOD.html

15. House Republicans Introduce Reauthorization Bill • The Republican leaders of the U.S. House Education and Workforce Committee have introduced their plan for reauthorizing the Higher Education Act. Introduced by Committee Chairman John Boehner, R-Ohio, and Howard "Buck" McKeon, R-Calif., who chairs the Subcommittee on 21st Century Competitiveness, the plan would make significant changes in the terms of consolidation loans, raise loan limits, reduce loan-origination fees and reverse a scheduled change in the student-loan interest-rate formula. The College Access and Opportunity Act can be viewed at: http://edworkforce.house.gov/heasummary.pdf

16. Mapping Your Future Wants You! • Mapping Your Future (MYF) team members create new features, write and edit content, develop promotional and marketing materials, review new ideas, and plan for the future. MYF wouldn't be possible without the work of team members. MYF team members find the experience to be rewarding and fun. For more information, contact CariAnne Behr at 573-634-8641 or via email at: carianne.behr@mapping-your-future.org

17. Mapping Your Future Spanish Translation • Mapping Your Future (MYF) is pleased to announce that MYF’s Stafford Entrance Counseling Online - Spanish version has been completed! The Spanish Translation Project Committee is in the final stages of reviewing and editing and expect to have to have the new counseling available this summer. Check out www.mapping-your-future.org for more information!

18. Training Materials Available Through NASFAA • Every financial aid administrator struggles with the issue of training staff. Where do you begin, how do you find the time, and how much information is enough to adequately prepare personnel? The NASFAA CORE training materials can help! Materials are available at: http://www.NASFAA.org/publications/2004/ncorepromo051304.html

19. For more information on these upcoming events, check out the calendar on www.fasfaa.org 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

20. 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.

21. Outreach Team Contact Information • Ernest Smith, Director of Market Development • 850-322-6498 • Jacqueline Hill, Default Prevention Manager and Outreach Representative • 850-212-1108 • 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

22. 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)