cod system & studentloans update

DC-DE-MD ASFAA Conference Ocean City, MD

COD System & studentloans.gov Update

Annmarie Weisman | 11.06.2012

On April 16, 2012, COD began performing outreach to impacted 2012-13 FAFSA Pell-eligible applicants.

• Targeted e-mail messages sent to 2012-13 FAFSA Pell-eligible applicants near, or exceeding, an LEU percentage of 600%

• Pell LEU applicant e-mail outreach continued through June 30, 2012

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Spring 2012 Pell Grant LEU Recap

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COD 2012-13 Pell LEU Report

With Release 11.1, on July 7, 2012, the COD System modified the following LEU functionality:

• COD returns the Pell LEU in the common record response for ALL Pell recipients

- Common Record Response tag <LifetimeEligibilityUsed> returned on Pell Grant responses

- Pell Grant awards for Award Year 2010-11 forward

• Modified current COD Warning Edits to reflect new limits

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COD Release 11.1 Pell LEU Recap

Two Pell LEU warning edits were modified:

# Message Updated Trigger177 Lifetime Percentage of Eligibility

Used is near the lifetime limitFor Pell Awards in AY 2008-09 forward when a student’s LEU is greater than/equal to 450% and less than/equal to 600%

178 Lifetime Percentage of Eligibility Used has exceeded the lifetime limit

For Pell Awards in AY 2008-09 forward when a student’s LEU is greater than 600%

Note: There is NO HARD REJECT EDIT in COD that prevents a Pell disbursement to a student with an LEU of > 600%.

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COD Release 11.1 Pell LEU Recap

COD also provides the LEU on the following Pell Grant SAIG preformatted reports for 2010-11 and forward:

• Pell Grant Multiple Reporting Record (MRR)• Pell Grant Reconciliation Report• Pell Grant Year to Date Report

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COD Release 11.1 Pell LEU Recap

With Release 11.1, the COD website was modified to provide additional Pell LEU information:

• COD displays LEU on the COD Web for all Pell recipients• A new COD Pell LEU History page on the COD website

allows schools to view historical Pell data to determine how the LEU was calculated

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COD Release 11.1 Pell LEU Web Changes

John A Doe1234567895/14/1969

Attending School Eligibility Used Total Amount DMCS Amount Scheduled Year '12-'13 COUNTY COMMUNITY COLLEGE 100.0000% $5,550.00 $5,550.00Total Percent Eligibility Used for 100.0000%Year '11-'12 COUNTY COMMUNITY COLLEGE 100.0000% $5,550.00 $5,550.00Total Percent Eligibility Used for 100.0000%Year '10-'11 COUNTY COMMUNITY COLLEGE 100.0000% $5,550.00 $5,550.00Total Percent Eligibility Used for 100.0000%Year '09-'10 COUNTY COMMUNITY COLLEGE 100.0000% $5,350.00 $5,350.00Total Percent Eligibility Used for 100.0000%Year '08-'09 COUNTY COMMUNITY COLLEGE 100.0000% $4,731.00 $4,731.00Total Percent Eligibility Used for 100.0000%Year '07-'08 COUNTY COMMUNITY COLLEGE 11.6009% $500.00 $4,310.00Total Percent Eligibility Used for 11.6009%Year '06-'07 COUNTY COMMUNITY COLLEGE 12.3457% $500.00 $4,050.00Total Percent Eligibility Used for 12.3457%

1414.04%

Pell LEU History

Pell Grant Summary

Lifetime Eligibility Used:

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From the Pell LEU History Page users can export data to

XLS format

COD 11.1 Pell Grant LEU Web Changes

John A Doe1234567895/14/1969

Attending School Eligibility Used Total Amount DMCS Amount Scheduled Year '12-'13 COUNTY COMMUNITY COLLEGE 100.0000% $5,550.00 $5,550.00Total Percent Eligibility Used for 100.0000%Year '11-'12 COUNTY COMMUNITY COLLEGE 100.0000% $5,550.00 $5,550.00Total Percent Eligibility Used for 100.0000%Year '10-'11 COUNTY COMMUNITY COLLEGE 100.0000% $5,550.00 $5,550.00Total Percent Eligibility Used for 100.0000%Year '09-'10 COUNTY COMMUNITY COLLEGE 100.0000% $5,350.00 $5,350.00Total Percent Eligibility Used for 100.0000%Year '08-'09 COUNTY COMMUNITY COLLEGE 100.0000% $4,731.00 $4,731.00Total Percent Eligibility Used for 100.0000%Year '07-'08 COUNTY COMMUNITY COLLEGE 11.6009% $500.00 $4,310.00Total Percent Eligibility Used for 11.6009%Year '06-'07 COUNTY COMMUNITY COLLEGE 12.3457% $500.00 $4,050.00Total Percent Eligibility Used for 12.3457%

1414.04%

Pell LEU History

Pell Grant Summary

Lifetime Eligibility Used:

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From the Pell LEU History Page, users can export

data to XLS format

COD 11.1 Pell Grant LEU Web Changes

COD calculates Pell LEU and sends it to NSLDS• NSLDS records updated with the COD LEU data• Displays LEU on the Professional Access-Grant Page, Student

Access Grant Section, and on Transfer Monitoring/FA History files

• NSLDS will provide LEU information to the CPS via the pre-screening and post-screening process

• COD is the system of record for Pell LEU data

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Pell LEU Update - NSLDS

*New Pell Lifetime Limit Flag in pre-screening match between NSLDS and CPS:

• E = Limit met or exceeded (= or >600%)• C = Close to limit (>500% but <600%)• H = High % (= or >450% but < or =500%)• N = No problem

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Pell LEU Update - NSLDS/CPS

New NSLDS post-screening Reason Codes for match between NSLDS and CPS:

Reason Code Description20 Pell Grant eligible and met/exceeded Pell LEU

limit

21 No longer meeting/exceeding Pell Grant LEU limit

22 Pell Grant eligible and close to Pell LEU limit

23 No longer close to Pell Grant LEU limit

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Pell LEU Update - NSLDS/CPS

In July 2012, the CPS began reporting Pell LEU information for 2012-13 award year on ISIRs and SARs.

• Pell Information reported using comment codes- To alert schools and applicants who are close to or have

exceeded 600% LEU- Avoided mid-cycle changes to the ISIR record layout- Refer to the reissued 2012-13 SAR/ISIR Guide

• Pell Grant LEU limit flag WILL NOT be added to the ISIR until 2013-14

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Pell LEU Update - NSLDS/CPS

<AbilityToBenefitCode> tag modifications for Release 12.0 include new and modified edits:

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COD Release 12.0 Grant & DL Update

New Trigger EditIf <AbilityToBenefitCode> is NOT submitted Reject Edit 994

Values of 03 “State” or 05 “Other” is submitted Reject Edit 198

If value submitted to COD does not match “H.S. Diploma or Equivalent” value from CPS

New Warning Edit TBD

Release 12.0 will also provide new valid values for the <AbilityToBenefitCode> tag:

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COD Release 12.0 Grant & DL Update

Valid Value Description06 High School Diploma

07 GED

With the COD Release 11.1 the Weekly School Monitoring Report was modified

• Contains virtually the same important information as the original emailed report

• Distributed weekly via your school’s…- SAIG Mailbox in a preformatted text file (SCHMONOP)- COD Newsbox (Direct Loan or Pell) in PDF format

• Allows for increased access to reports by authorized users at the school

COD Release 11.1 Direct Loans Recap

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Financial Awareness Counseling on the StudentLoans.gov website was developed to

• Educate borrowers about their current indebtedness and management of their student loans

• Provide a centralized, online source of financial literacy information to students

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COD Release 11.1 Direct Loans Recap

Financial Awareness Counseling on the StudentLoans.gov website was developed to

• Assist borrowers in making informed postsecondary funding decisions

• Support the government-wide efforts through the Financial Literacy Education Commission

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COD Release 11.1 Direct Loans Recap

Your Student LoansLoan BasicsFree Money FirstTypes of Student

Loans

Manage Your Spending While in School

Live Within Your Means

Borrow Smart

Estimate What You Will Owe, Spend, and Earn

Understand Repayment

Avoiding DefaultPostpone or Lower

Your PaymentsForgive or Cancel

Your DebtsDelinquency and

Default

Plan for the FutureYour Income &

TaxesYour Credit &

IdentityCredit Cards &

Other Borrowing

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COD Release 11.1 Direct Loans Recap

The existing Entrance Counseling Report was modified to include Financial Awareness Counseling data

• Renamed the “Counseling Report”-Posted weekly to COD Reporting NewsBox in CSV format

• New Counseling Type Indicator • There can be multiple Entrance Counseling or FAC

records per Borrower

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COD Release 11.1 Direct Loans Recap

COD Release 11.1.1 DL Update

FSA is creating an electronic IBR application with an IRS data retrieval function that will be available on StudentLoans.gov

• intent is to increase efficiency • similar to FAFSA on the Web to allow applicants to

retrieve and transfer income information into their online IBR application

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studentaid.gov

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Federal Student Aid Websites

Solution: StudentAid.gov

FACT Counseling Tool

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Useful Information to HaveAny details on your income, financial aid, and living expenses. Some of this information can be found in:

•Your student account information•A copy of the award letter from your school's financial aid office (if you have received it)•A listing of the tuition and fees for your school. Visit CollegeNavigator.gov

FACT Counseling Tool

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Understand Your Loans: allows users to see federal student loan debt • based on NSLDS data• can enter additional loans that are not in NSLDS or if not logged in

Manage Your Budget: comparison between living expenses vs. current income (exportable to Excel)

FACT Counseling Tool

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Plan to Repay: budgeting tool which compares living expenses vs. estimated post-school income•calculates monthly payment amounts for each of the basic repayment plans•allows user to see effects of paying extra toward loans to reduce debt and interest

Avoid Default: tips on how to postpone repayment or lower monthly payments

FACT Counseling Tool

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Make Finances a Priority: financial planning and decision making

Summary Page: a printable summary of the data used/entered

FSA Social Media

Twitter

Facebook

YouTube

COD School Relations Center

URL: http://www.cod.ed.gov

E-mail: CODSupport@acs-inc.com

Phone - Grants: 800-474-7268

Phone - Direct Loans: 800-848-0978

Direct Loan Operations

E-mail: dlops@ed.gov

Contact Information

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Contact InformationContact Information• For follow-up questions on this session, contact

me at:Annmarie Weisman, Training Officerannmarie.weisman@ed.gov215-656-6456

• To provide feedback to my supervisor, contact:Jo Ann Borel, Supervisorjoann.borel@ed.gov281-758-8122

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EvaluationEvaluation

Your attention is appreciated at today’s session!

To provide feedback to me and my supervisor, please complete an evaluation form.

Thank you!!!

QUESTIONS?