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Oregon Student Assistance CommissionOregon Student Assistance Commission

2010 OSAC Update2010 OSAC Update

OASFAA Annual OASFAA Annual ConferenceConference

January 24 – 26, 2010January 24 – 26, 2010

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The ’09-’10 FAFSA TsunamiThe ’09-’10 FAFSA Tsunami For 2009-10For 2009-10

– ““Viable” 09-10 Viable” 09-10

FAFSAs FAFSAs upup 30% mid- 30% mid-

Jan 2009 vs. late Jan Jan 2009 vs. late Jan

20082008 For 2010-11For 2010-11

– Year-to-date FAFSAs Year-to-date FAFSAs for 2010-11 for 2010-11 upup nearly nearly 60% over 2009-1060% over 2009-10

(“Viable” = Oregon (“Viable” = Oregon resident, undergrad, lists resident, undergrad, lists OOG school, 1+ terms of OOG school, 1+ terms of eligibility) eligibility)

2008-2008-09 Full 09 Full YearYear

2009-2009-10 as 10 as

of 1/15of 1/15

Total Total appsapps

215,21215,2111

260,95260,9599

Viable Viable appsapps

130,24130,2499

157,16157,1611

# OOG # OOG eligibleeligible

74,42774,427 95,74395,743

# OOG # OOG recipienrecipien

tsts

38,47938,479 43,14143,141

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Opportunity Grant FundingOpportunity Grant Funding Total OOG for 2007-09 = $106 millionTotal OOG for 2007-09 = $106 million

– 2007-08 =27,859 recipients, $34.6 million 2007-08 =27,859 recipients, $34.6 million – 2008-09 =38,479 recipients, $68.1 million2008-09 =38,479 recipients, $68.1 million

Total OOG for 2009-11 = $97 millionTotal OOG for 2009-11 = $97 million

– 2009-10 = budgeted for $57 million; 2009-10 = budgeted for $57 million;

anticipated 30,000 recipients, but anticipated 30,000 recipients, but

disbursed funds to 43,100 recipients Fall disbursed funds to 43,100 recipients Fall

2009! 2009! – 2010-11 = budgeted for $40 million, but 2010-11 = budgeted for $40 million, but

funds may be reduced by costs for 09-10. funds may be reduced by costs for 09-10.

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OOG Late Filers 08-09 vs. 09-OOG Late Filers 08-09 vs. 09-1010

2008-09, 2008-09, full-year full-year

2009-10, as of 2009-10, as of 1/15/101/15/10

CCsCCs 7,3867,386 $16.8$16.8MM

15,0415,0477

$35.6$35.6MM

OUSOUS 875875 $2.3M$2.3M 2,0122,012 $4.6M$4.6M

Priv Priv IndInd

150150 $.37M$.37M 330330 $0.75$0.75MM

All InstAll Inst 8,4118,411 $19.5$19.5MM

17,8917,89 $40.9$40.9MM

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OOG – Tax CreditsOOG – Tax Credits Assumed tax credits – uses standardized

tables, based on adjusted gross income (AGI) and tax filing status (single filer or joint filers).

– For 2009 and 2010, American Opportunity Credit replaces Hope and Lifetime Learning tax credits for single-filers with AGIs up to $80K and joint-filers with AGIs up to $160K.

– Maximum tax credit $2500 (up from $1800 for 2008 and $1650 for 2007)

– Up to $1000 refunded to filers with AGIs too low to qualify for tax credit

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OOG – Award InfoOOG – Award Info Email award notification to students – none for

2009-10; none planned for 2010-11

OOG Estimator for 2009-10 – Disabled after August 15 www.GetCollegeFunds.org

2010-11 Award Lists – Planned for March

Grandfathered awards – Sunset in 2011– Must be continuously enrolled at least HT at same

institution(s) attended in 2007-08 – Must meet all 2007-08 OOG eligibility criteria

(income at/below 2007-08 income limits plus eligible for Pell)

– Greater of SRM award or 07-08 grandfathered amount

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PUBLIC/PRIVATE 4-YRS

$6,716 4Yr Tuition & Fees

+ $10,300 Nontuition (all)

= $17,016 (Public/Priv 4-yr)

— $8,400 (Std Share)

— $0 (Family Share/EFC)

— $5,550 (Pell)

— $1,000 (tax credit/refund)

= $2,066 (Rmng need)

— $0 (19% EFC reduction)

= $1,950 max OOG award

Est. 2010-11 OOG at $0 EFCEst. 2010-11 OOG at $0 EFC

COMMUNITY COLLEGES

$3,584 CC Tuition & Fees

+ $10,300 Nontuition (all)

= $13,884 (Public 2-yr)

— $5,400 (Std Share)

— $0 (Family Share/EFC)

— $5,550 (Pell)

— $1,000 (tax credit/refund)

= $1,934 (Rmng need)

— $0 (19% EFC reduction)

= $1,800 max OOG award

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09-10 OOG Deadlines 09-10 OOG Deadlines Application deadline = August 15Application deadline = August 15 Disbursement deadline = December 15Disbursement deadline = December 15

– First FAFSA transaction must have CPS First FAFSA transaction must have CPS processing date of August 15 or earlierprocessing date of August 15 or earlier

– Professional Judgment (PJ) and Reload-and-Professional Judgment (PJ) and Reload-and-Lock (RnL) requestsLock (RnL) requests OK if submitted before 8/15 OK if submitted before 8/15 8/15 to 12/15 – OK only if first CPS processing 8/15 to 12/15 – OK only if first CPS processing

date on/before 8/15 and submitted on/before date on/before 8/15 and submitted on/before 12/1512/15

– No new awards or award increases after No new awards or award increases after 12/1512/15

– Students enrolled half-time in fall limited to Students enrolled half-time in fall limited to awards at half-time levels for all termsawards at half-time levels for all terms

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10-11 OOG Awards10-11 OOG Awards Application deadline – TBD, deadlines Application deadline – TBD, deadlines

based on total available funds and average based on total available funds and average percentage of distribution for each sectorpercentage of distribution for each sector

Student’s first FAFSA transaction must Student’s first FAFSA transaction must have CPS processing date on/before have CPS processing date on/before deadlinedeadline

Additional awards made after Fall Additional awards made after Fall Disbursement Reports complete Disbursement Reports complete

Waiting list priority by first CPS date Waiting list priority by first CPS date

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Timeline for 2010-11 Timeline for 2010-11 AwardsAwards

Jan 12 – Steering Committee MtgJan 12 – Steering Committee Mtg– Review/adopt budgets, award limits, deadlinesReview/adopt budgets, award limits, deadlines– Recommend Commission action on determining Recommend Commission action on determining

award distribution, redistribution of unused fundsaward distribution, redistribution of unused funds

Jan 22 – Commission Mtg – Jan 22 – Commission Mtg – act on SC’s planact on SC’s plan

Jan 25 – OASFAA Conference – Jan 25 – OASFAA Conference – inform financial aid inform financial aid community about procedures & timeline for 2010-11community about procedures & timeline for 2010-11

Jan 26 – Special Election Jan 26 – Special Election

Jan 27 – Jan 27 – Notify DAS of substantive changes re: 2009-Notify DAS of substantive changes re: 2009-10 reductions & 2010-11 awarding protocol10 reductions & 2010-11 awarding protocol

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Timeline for 2010-11 Timeline for 2010-11 AwardsAwards

February – OSAC report to Special Legislative February – OSAC report to Special Legislative Session Session – 2009-10 applications, disbursements, reductions 2009-10 applications, disbursements, reductions – Prospects for 2010-11 awardsProspects for 2010-11 awards– Request add’l funding (if more reductions Request add’l funding (if more reductions notnot required) required)

March – March – Hearing on proposed administrative rules re: Hearing on proposed administrative rules re: reductions and awarding protocolreductions and awarding protocol

Mid-March – Mid-March – Begin posting 2010-11 awardsBegin posting 2010-11 awards

November – November – Fall Disbursement ReportsFall Disbursement Reports– Late awards based on amount of funds de-obligatedLate awards based on amount of funds de-obligated– Late awards for each sector by FAFNAR dateLate awards for each sector by FAFNAR date

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OOG Online Tools in FAO PortalOOG Online Tools in FAO Portal Award Lists

– On-Demand Display Authorized Awards. Updated daily. Lists only authorized awards, links to students’ individual award histories.

– On-Demand Display List History. Updated weekly. Lists all records. Filters for academic year, list date, new/changed/revoked status.

Online requests– Professional Judgment and Exceptions – also

for residency waivers, restoring grandfathered awards

– Reload and Lock FAFSA Transactions – for single and multiple records

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OSAC OSAC PublicationsPublications

Copies of today’s presentation and the Copies of today’s presentation and the OSAC “Quick Facts” book are posted in OSAC “Quick Facts” book are posted in the e-Library on the OSAC website:the e-Library on the OSAC website:

http://www.osac.state.or.us/http://www.osac.state.or.us/e_library.htmle_library.html

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OSAC ContactsOSAC ContactsDennis JohnsonDennis JohnsonExecutive DirectorExecutive Director541-687-7377541-687-7377 dennis.r.johnson@state.or.usdennis.r.johnson@state.or.us

Susan DegenSusan DegenOOG Administrator OOG Administrator 541-687-7451541-687-7451 susan.r.degen@state.or.ussusan.r.degen@state.or.us

Vicki MerkelVicki MerkelDirector, Scholarship & Director, Scholarship & Access ProgramsAccess Programs541-687-7385541-687-7385 vicki.b.merkel@state.or.usvicki.b.merkel@state.or.us