1 / 46

Session 43

Session 43. Financial Aid For Technical Staff Wood Mason. Session 43. Al Beeouttahere. But First…. It’s Picture Time!. Session 43. Send $50 cash to… Al Beeouttahere 555 East West Ave Algernona, GA 67890. In a Nutshell…. Student applies ED calculates EFC

vernad
Download Presentation

Session 43

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Session 43 Financial Aid For Technical Staff Wood Mason

  2. Session 43 Al Beeouttahere

  3. But First… It’s Picture Time!

  4. Session 43 Send $50 cash to… Al Beeouttahere 555 East West Ave Algernona, GA 67890

  5. In a Nutshell… • Student applies • ED calculates EFC • School determines aid offered

  6. History… • Harvard University • May 9, 1643 • Lady Ann Radcliffe Mowlson endowed Harvard’s first scholarship fund • 1840 • Harvard’s first loan program

  7. History… • Peabody Education Fund • 1867 • $2 million dollars over 30 years

  8. History… • 1867 • U.S. Department of Education • 1979 • cabinet level post

  9. History… • National Youth Administration • 1935 • FDR “New Deal” program • can you say Tech School?

  10. History… • 1944 - Serviceman’s Readjustment Act • 1952 - Veteran’s Readjustment Assistance Act

  11. History… • 1950’s • Nat’l Defense Education Act of 1958 • Nat’l Defense Student Loan Program (morphed into Perkins Loan Program)

  12. History… • Higher Education Act of 1965 • Guaranteed Student Loan Program • Educational Opportunity Grant

  13. History… • Higher Education Reconciliation Act of 2005 • ACG/National SMART awards • GRAD/Professional Student PLUS borrowers

  14. Application • FAFSA • Free Application for Federal Student Aid

  15. Application Students * Schools Central Processing System (CPS) SAIG EFC Calc DB Matches NOTE: All COD interfaces routed through EAI except DCS. *FOTW – FAFSA on the web

  16. Application • Aid Eligibility/Determination • CPS • Central Processing System • EFC • Expected Family Contribution

  17. Awarding COA (Cost of Attendance) • EFC NEED

  18. Awarding • Grants • Pell Grant • ACG (Academic Competitiveness Grant) • National SMART Grant (National Science and Mathematics Access to Retain Talent Grant)

  19. Awarding • Campus Based Programs • FSEOG • Federal Supplemental Educational Opportunity Grant • FWS • Federal-Work Study Program • Perkins Loan Program

  20. Awarding • Loan Programs • William D. Ford Federal Student Direct Loan Program • Federal Family Education Loan Program • alternative loans

  21. Awarding • School Aid • scholarships • grants

  22. The COD Boogie Debt Collection Services (DCS) Student Data Storage (NSLDS) Central Processing System (CPS) Post Secondary Education Participant System (PEPS) School Eligibility Data Student Applicant Data Student Pell Payment Data Student Level Direct Loan Data Student Level Grant Data ACG, SMART, Direct Loan and Pell Origination, Change and Disbursement data Common Origination & Disbursement (COD) Schools Loan Servicing System(DLSS) SAIG Transaction Processing Web Reports Loan Bookings & Disbursements Applicant Services Customer Service Center Batch and web-generated Responses Funding Transactions Payment Transactions FMSS / GAPS Payment Transactions Financial Mgt System (FMS) Drawdowns

  23. The COD Boogie Central Processing System (CPS) Student Data Storage (NSLDS) ACG, SMART, Direct Loan and Pell Origination, Change and Disbursement data Common Origination & Disbursement (COD) Schools SAIG Transaction Processing Web Reports Applicant Services Customer Service Center Drawdowns Batch and web generated Responses GAPS

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

  25. Processing - COD • Common Record • Response

  26. The Award Year • July 1, 2007 – June 30, 2008 • applications • awarding

  27. The Award Year • Summer term • program year closeout for loans (prior award year) • applications • awarding • header/trailer

  28. The Award Year • Fall PEAK • traditionally chaotic • registration and start • Grant year-end reconciliation and closeout

  29. The Award Year • Spring PEAK • registration and start of classes • transfers • grant global jobs • applications/awarding for NEXT award year

  30. Blessed are those that survive PEAK!

  31. The Next Award Year • Program changes • rules • regulations • requirements • edits • dollars and data

  32. The Next Award Year • IT changes • all of it... • CPS • COD • any other system that touches your school

  33. Talkin’ the talk… • COD Tech Ref • glossary • IFAP.ed.gov • Information for Student Aid Professionals

  34. Talkin’ the talk… • ACA • Administrative Cost Allowance • POP • Potential Overaward Process • MRR • Multiple Reporting Record

  35. Talkin’ the talk… • SRC • School Relations Center • COD customer service center in Niagara Falls, NY • CSR • Customer service representative

  36. Talkin’ the talk... • GAPS • Grants Administration and Payment System • from whence all moneys come • funding method • Advance Pay • Pushed Cash

  37. Talkin’ the talk... • NSLDS • National Student Loan Database System • FAA Access Online

  38. Talkin’ the talk... • CPS • Central Processing System • SAIG • Student Aid Internet Gateway

  39. 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”

  40. 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”

  41. The Care & Feeding of Your FA Colleagues • And finally...

  42. 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”

  43. Questions? I appreciate your feedback and comments. I can be reached at: Name: Wood Mason Phone: 404.562.6270 Email: wood.mason@ed.gov

More Related